Securitization

Ford Motor Credit Co. is marketing an auto loan ABS worth $1.07 billion. Ford Credit is a subsidiary of Ford Motor Co.

Richard Cordray, the enforcement chief at the Consumer Financial Protection Bureau (CFPB), will be named to lead the new regulator, the Obama administration said Sunday.

Mutual funds that invest in leveraged loans may be pulling in less new money, but banks themselves have been picking up the slack in lending, putting them in competition with institutional investors and contributing to the general froth in the market.

Two Harbors Investment Corp., a REIT with Jumbo plans and an additional equity offering in the works, was one of the most actively traded stocks on the NYSE Friday afternoon.

A recent report by Moody’s Analytics found that the decline of consumer credit balances has slowed. This might potentially serve as signs of credit recovery and the end of deleveraging. However, any continued improvement is predicated on the strength of the macroeconomic recovery.

The macro events surrounding the European Union's (EU) sovereign debt with increased worries about Italy and Spain and the U.S. debt ceiling talks — including downgrade warnings from the rating agencies if an agreement wasn't reached soon — dominated this week's headlines.

Existing home sales rose 7.5% in June from the prior month on a non-seasonally adjusted basis and prices increased for the third consecutive month, according to new figures compiled by RE/MAX.

After the tense moments of her last congressional hearing, Elizabeth Warren surprised critics at her second appearance before the House Committee on Oversight and Government Reform with a carrot of sorts.

Ginnie Mae issuers sold $26.2 billion of MBS into the secondary market in June, up 3% from the previous month, according to new government figures.

Bank of America is exploring the idea of selling roughly $40 billion of mortgage servicing rights tied to Freddie Mac loans, according to servicing officials and investors who have been briefed about the plan.

Consolidation among CLO managers, underway since the financial crisis, shows no signs of slowing even as issuance of these structured investment vehicles starts to recover.

Apollo Residential Mortgage filed an S-11 yesterday with the Securities and Exchange Commission (SEC) to offer 10 million shares in its IPO.

Ocwen Loan Servicing has updated its servicing advance recovery policies to minimize cash shortfalls on current investment-grade rated, non-agency RMBS.

The bank-owned PNC Mortgage Thursday confirmed that it hired mortgage industry veteran E. Todd Chamberlain as its president and chief operating officer beginning Aug. 8.

Prospect Mortgage, Sherman Oaks, Calif., Wednesday afternoon agreed to pay the Department of Housing and Urban Development (HUD) $3.1 million to settle charges that it created sham affiliated business arrangements as part of a scheme to share in “kickbacks” paid to these joint ventures.

Moody's Investors Service just published a report that gives an update on Irish RMBS performance. The ratings agency is maintaining a negative outlook on Irish RMBS citing expectations of increased delinquencies and defaults in these deals.

While a majority of the fixed-income and equity markets have recovered from their price weakness, a new report by Amherst Securities Group (ASG) analysts finds that there are still considerable price drops across all the sectors of the securitized products market.

The delay over raising the U.S. statutory debt limit could cause the country's 'Aaa' bond rating to be downgraded, which would lead to a default on U.S. Treasury debt obligations, said Moody's Investors Service.

Dexia SA has filed a lawsuit yesterday against Deutsche Bank. The suit cited fraud in connection with more than $1 billion in RMBS it purchased.

Mortgage rates dropped in the week ending July 14 in response to the sharp decline in yields following the much-weaker-than-expected jobs report, said Freddie Mac Chief Economist Frank Nothaft.