Securitization

A new avenue of attack may be opening up for investors seeking to force big banks to buy back billions of dollars in mortgages: drag the trustees into the fight.

A report from the National Association of Home Builders (NAHB) found that a decrease in loan limits for Fannie Mae, Freddie Mac and the Federal Housing Administration set to take effect on Oct. 1 would have a negative impact for the housing market.

Freddie Mac's issuance of MBS declined in May for the fifth consecutive month to a 27-month low as refinancing activity continues to wane.

Many commercial real estate investors are aggressively buying properties as they believe the industry's overall fundamentals are stabilizing and in certain sectors and regions, even improving, the second quarter PwC Real Estate Investor Survey found.

New home sales fell 2% in May after a 6% increase in April as sales continue to be stuck in a low range.

Barclays Capital has appointed Larry Kravetz and Spencer Kagan to its CMBS sector to expand its CMBS origination business.

Potential issuers of private-label securities are considering a structure that will require the primary servicer to hand over newly delinquent home mortgages to a special servicer, according to a credit rating agency official.

Textainer Marine Containers Limited (TMCL) closed its $400 million ABS deal Series 2011-1 Fixed Rate Asset Backed Notes.

The House Financial Services Committee has approved legislation aimed to support the growth of the U.S. covered bond market with wide bipartisan support. The bill, named H.R. 940 The United States Covered Bond Act of 2011, passed by a vote of 45-7-3.

The 30-year fixed mortgage rates held steady at 4.50% for the week ending June 23, according to Freddie Mac's weekly report. However, points increased to a 0.8 average from 0.7 previously. As a result, the no-point rate increased slightly to 4.70% from 4.68%.

As one dramatic chapter in Regions Financial Corp.’s history ends, another is about to begin.

The American Securitization Forum (ASF) expressed strong support for the new legislation designed to promote the issuance of covered bonds in a letter sent to Congress today.

Moody’s Investors Service may upgrade some $237 billion of CLOs as a result of a change in its ratings methodology.

A coalition of 44 industry, consumer, community development and civil rights groups have banded together to oppose a regulatory proposal on risk retention that they claim would increase the cost of mortgage credit for average Americans and goes beyond the intent of Congress.

Shadow inventory for residential properties has declined to 1.7 million units in April, according to the analytic provider CoreLogic.

A report released yesterday by Lender Processing Services (LPS) shows a -0.1% drop in the total U.S. loan delinquency rate to 7.96%, while the total U.S. foreclosure presale inventory rate fell by -0.7% to 4.11% in May.

In a new agreement with federal, state and independent regulators, Morgan Keegan & Co. will fork over about $200 million as part of its settlement of prior fraud charges related to its subprime MBS vehicles.

Large institutions are starting to reconsider their obligation to make servicing advances to MBS investors as it takes longer and longer to foreclose and liquidate residential properties.

Securities and Exchange Commission (SEC) Chairman Mary L. Schapiro spoke today at the American Securitization Forum’s annual meeting in Washington D.C. to discuss the current state and future of the RMBS market.

No one could have predicted the speed of recovery in the commercial real estate space, said panelists speaking today at the American Securitization Forum’s 2011 annual meeting.