Securitization

The $2.2 billion term loan backing Kinetic Concepts' buyout was probably not the best test case for using shorter dated loans to appeal to maturing close, a banker involved with the transaction said today.

CoreLogic is now offering financial and government institutions a tool that provides them information in order to combat mortgage fraud.

Dutch mortgage originator Obvion issued price talk on it €744.3 million ($1.3 billion) Dutch RMBS dubbed STORM 2011-IV B.V.

The government owned Ally Financial posted a $210 million loss in the third quarter, dragged down by a $471 million pre-tax charge tied to its mortgage servicing rights.

Two U.K. RMBS have been announced from Paragon Group of Companies and Barclays Bank.

The list of banks suing MBIA just got smaller. Wells Fargo Bank, formerly Wachovia Bank, pulled out of three lawsuits against the insurer that challenged the New York State Insurance Department’s approval of the restructuring of MBIA Insurance Corp. into two entities.

The new-issue private label CMBS market has been taking a breather, and how long it will last depends on what happens as far as international financial concerns and other events that have roiled U.S. and world markets.

Mortgage application activity was essentially flat at +0.2% in the week ending Oct. 28, said the Mortgage Bankers Association (MBA).

Europe might be feeling great uncertainty over how to resolve its sovereign debt crisis, but its securitization market has still managed to restart.

Because of still challenging market-making conditions, Credit Suisse Group is set to either downsize or cut altogether some securitization businesses and fixed-income units.

If the Federal Reserve launches a new round of MBS buying it could cause spreads between mortgages and Treasurys to widen — as would be expected — but it also would spur returns for broker/dealers.

IPFS Corp., through its wholly-owned subsidiary PFS Financing Corp., is issuing Premium Finance Asset Backed Notes, Series 2011-B.

Fannie Mae acquired $55.3 billion of mortgages from its seller/servicers in September, its best purchase month since March, and a sign that loan production is gaining traction in the primary market.

Investec has launched a £204 million ($325 million) securitization dubbed Gemgarto 2011-1.

The New York Supreme Court late Monday denied Countrywide and Bank of America’s motion to consolidate various claims against them made by four bond insurers led by MBIA Insurance Corp.

Jefferies appointed Guy Cornelius as a managing director and head of sterling credit sales. The firm also hired Christian Janssen as a managing director and head of commercial real estate debt capital markets Europe.

Citigroup has completed pricing on the latest CLO to hit the market, raising a $408.7 million fund to be managed by WCAS Fraser Sullivan Investment Management, according to a source familiar with the transaction.

Galton Capital Management, the residential mortgage credit investment unit for Mariner Investment Group, appointed Tim Lynch as head of servicing oversight.

Nearly two-thirds – or 60% – of European CMBS maturing loans could fail to repay by the end of 2012, according to Standard & Poor's.

Just as the industry began to feel comfortable about the re-emergence of CMBS financing and CMBS 2.0 began to take off, the CMBS market started getting ahead of itself this summer and then certain issues cropped up.