Securitization

Mercedes-Benz Financial Services (MBFS) is marketing an auto loan issuance of $1.25 billion. MBFS is a subsidiary of Daimler AG.

Republican leaders on the House Financial Services Committee are coming under strong criticism for taking a piecemeal approach to winding down Fannie Mae and Freddie Mac while ignoring several comprehensive GSE reform bills that address the future of the housing finance system.

Deutsche Bank Securities is currently marketing a CMBS called COMM 2011-THL Mortgage Trust worth $685 million.

BlueMountain Capital Management LLC is in the market with a $361 million collateralized loan obligation.

The largest single-family mortgage REIT, Annaly Capital Management Inc., was the most actively traded stock on the NYSE Tuesday morning, the day after it announced the pricing of a secondary stock offering of about 120 million shares.

Roughly $25 billion of Freddie Mac servicing rights that once belonged to the now defunct Taylor, Bean & Whitaker Mortgage Corp. (TBW) could hit the market by summer’s end, according to officials close to the matter.

A report by Barclays Capital said that the post-crisis performance improvements of retail auto collateral are real, and are not a result of new unseasoned issuance with low delinquencies and losses being included in calculations.

When Bank of America Corp. said it would unload the servicing of its most troubled Countrywide mortgages as part of a proposed settlement with bondholders, the surprise wasn't that they doubted the bank could do the job.

The long expected boom in banks unloading their REO and nonperforming loans may finally be afoot.

Despite a recent uptick in national home prices, Clear Capital reported that home values are down 3.2% for the first six months of this year, and the real estate data firm is projecting another 2.4% decline through the second half of 2011.

The price of being a good neighbor can be steep for banks foreclosing on condominiums and homes in planned communities.

Some experts suggest that in disputes between investors and banks involving securitized residential mortgage product, investors have found it challenging to force banks to repurchase loans — a factor that could influence whether a huge settlement in this area pending at press time goes through.

While some bankers are secretly gleeful the Consumer Financial Protection Bureau (CFPB) does not yet have a director, they are the ones likely to pay a heavy price as a result.

Fitch Ratings updated its criteria for rating Dutch RMBS transactions backed by the Nationale Hypotheek Garantie (NHG). The action could possibly cause previously rated 'AAA' paper backed by NHGs to be downgraded to 'BBB."

Nelnet has acquired $1.9 billion worth of Federal Family Education Loan Program or FFELP consolidation loans from Greystone & Co.

RBC Capital Markets has added a cohead of U.S. loan capital markets, the firm said.

The Hope Now Alliance May mortgage loan data showed that foreclosure sales fell to 68,000 in May, a 7% drop from the 73,000 recorded in April, and marking the second consecutive month of decline.

Even as he favored a broader exemption from risk retention than currently proposed, Rep. Barney Frank said Monday regulators should not undermine skin-in-the-game rules by turning the exception into the rule.

GreensLedge Capital Markets has appointed Ken Wormser and David Powar as managing partners at the firm. Wil Fischer, Ninat Lekagul, and Aimee Means will also join the firm as managing directors, with Mark David, Naz Majidi, and Craig Reckin being named directors at GreensLedge.

Global real estate funds management firm Agincourt Capital plans to launch this Thursday what it said is the first-ever offshore renminbi secured convertible bond fund for Australian residential and commercial real estate, and it is also in the process of structuring an RMB bond fund that will invest in certain New York City properties.