Securitization

Although Bank of America – for now – is committed to staying in warehouse finance, it may exit that business as well.

The Federal Reserve Board's decision to hold public hearings and extend the comment period on Capital One Financial Corp.'s planned acquisition of ING Direct has drawn the ire of House Financial Services Chairman Spencer Bachus.

Discover Financial Services has agreed to purchase $2.5 billion of private student loans from Citigroup, as the lender continues diversifying beyond its main credit card business.

The Federal Housing Finance Agency is on the verge of filing a barrage of civil claims against investment banking firms that packaged nonprime loans into MBS while misrepresenting the quality of the underlying collateral, according to a new published report.

Golub Capital Partners is preparing a $300 million CLO. Golub Capital Partners CLO 10 is a managed cash-flow CLO collateralized primarily by broadly syndicated first-lien senior secured corporate loans, according to a presale report by Moody’s Investors Service.

IKB Deutsche Industriebank has filed a suit against JPMorgan Chase based on losses that occurred over its RMBS, according to a Reuters report.

The delinquency rate for U.S. commercial real estate (CRE) loans backing CMBS fell 36 basis points in August to 9.52%.

Sol Systems launched a new financing platform that provides investors and developers with the tools they need to originate, evaluate, finance, and construct renewable energy projects.

The Financial Stability Board said it plans to focus on five areas where more detailed work is warranted to help gauge the case for further regulatory action.

Nonprime lender/servicer Springleaf Financial late Wednesday priced a $242 million nonprime residential MBS at a yield of 4%, according to market reports.

U.S. District Judge William Pauley set a Sept. 21 hearing to consider requests from some investors to move the case against Bank of America Corp.'s $8.5 billion settlement to the Manhattan federal court from a New York state court, according to a Reuters report.

The Federal Reserve Board said it plans a formal enforcement action against the Goldman Sachs Group and Goldman Sachs Bank USA.

HSH Nordbank has filed a suit in the New York state court against JPMorgan Chase over losses on $159 million RMBS it purchased from the bank, according to a Reuters report.

Major League Baseball's (MLB) Club Trust Securitization has been rated 'A-' by Fitch Ratings.

With the private-label mortgage market virtually nonexistent and the GSEs in trouble, Ginnie Mae has come to the forefront to fill the void that these other sources of credit have left.

Volatility in the capital markets has pushed industry participants towards safe-haven assets such as covered bonds.

The recent focus on the economy and the jobless rate has, in the popular press, pushed the housing market from the front pages of the mainstream press. The continued weakness in the housing markets, however, is a major factor in the sapping of consumer confidence and the resulting lack of a robust rebound. While housing and mortgage lending remains entangled in a seemingly intractable web of investigations, negotiations and unimplemented regulations, an important short-term goal should be to make headway against the huge backlog of nonperforming loans.

Having proven their mettle in crisis conditions, covered bonds are gaining popularity outside their traditional enclave of continental Europe. A number of emerging markets are looking into the product, and a few have recently made concrete moves. Turkey, for instance, saw its first covered bond a couple of months ago.

The Standard & Poor's downgrade of the U.S. long-term debt rating was followed a few days later by downgrades of debt issued by government-related entities such as the Federal Home Loan Banks and the Federal Deposit Insurance Corp. (FDIC), as well as a slew of funds with a majority of their exposures to U.S. Treasurys.

It's been a brutal time for executives in structured finance departments across Wall Street since the 2008 financial crisis.