Securitization

Demand for multifamily loans is pushing the Federal Housing Administration (FHA) into the big leagues with Fannie Mae and Freddie Mac.

Freddie Mac's third "K" multifamily mortgage deal backed by seven-year mortgages has come to market.

Global multi-asset investment manager PineBridge Investments announced the closing of its CLO called Galaxy XI CLO, Ltd.

Prudential Mortgage Capital Co. has appointed Curtis Brunton as a principal in the Western region.

Tobacco bonds have been on the defensive for several years now as the number of smokers dwindles. But for some yield-addicted investors, tobacco bonds are now seen as a buying opportunity despite their risks.

Mortgage applications slipped 2.4% in the week ending Aug. 19 with both refinancing and purchase activity lower.

Bank of America as well as the three surviving mortgage insurance holding companies were taking it on the chin from investors even though the Dow Jones Industrial Average was up 199 points at noontime on Tuesday (and over 200 points up earlier in the day).

New home sales came in at an annualized rate of 298,000 units in July, a slight decline from the prior month, and a sign that ultra low mortgage rates are still not moving sales off their Depression levels.

Gleacher & Co., which is exiting the equities business after a strategic review, is concentrating instead on efforts that include a continuing build-out of its conforming/Jumbo origination unit aimed at complementing its fixed income sales and trading platform.

Auto loan delinquencies continued to shrink in the second quarter, outpacing expected seasonal declines, TransUnion said Tuesday.

American Home Mortgage Servicing (AHMSI) has filed a lawsuit in District Court in Dallas County against Lender Processing Services (LPS) and its affiliate DocX to recoup millions of dollars in claimed losses.

Springleaf Financial is reportedly prepping a $292 million RMBS backed by subprime loans that were originated in the past few years, according to a Dow Jones report.

As if the stock market's wild vacillations in the past few weeks weren't evidence enough that few have a firm hold on the U.S. economy's near- and long-term outlook, Fannie Mae this week issued an analysis that says the likelihood of a dreaded double-dip recession is now a 50/50 proposition.

The Obama administration is looking at creating a major refinancing program to help the housing market and give the economy a jolt, according to industry officials.

An Australian CMBS issued by building society IMB called Illawarra Series 2011-1 CMBS Trust is in the market. The A$202.56 ($ 212.68) transaction is the third CMBS for the issuer.

London-based financial advisory firm Rothschild has taken over the CLOs of Elgin Capital.

Investors that are considering objecting to the proposed $8.5 billion Bank of America RMBS settlement may now do so by filing a short form objection seeking further information related to the proposed deal.

The Department of Housing and Urban Development (HUD) is asking Ameritrust Mortgage Bankers to indemnify the Federal Housing Administration (FHA) for possible future losses on 10 loans and reimburse the agency $183,327 for actual losses on at least one mortgage.

Wesco Distribution, a wholly-owned operating subsidiary of Wesco International, has amended its accounts receivable securitization facility.

In a report released today, DBRS said that RMBS deals should benefit from principal forgiveness as a form of loan modification in the longer term.