Securitization

Citigroup on Tuesday priced a $408 million CLO managed by BlackRock, according to sources.

MarketAxess Holdings launched its electronic trading for consumer-backed ABS and preferred stocks on its e-trading platform.

Roughly 27% of underwater borrowers think it is acceptable to walk away from their mortgage obligations – double the number of consumers who thought so a year ago, according to a new study from Fannie Mae.

Assured Guaranty reported higher operating earnings than expected in the first quarter due to a large out-of-court settlement.

Commercial Real Estate Finance Council Europe (CREFC Europe) released Version 2.0 of its European Investor Reporting Package (E-IRP 2.0).

Ally Bank has launched its Ally Master Owner Trust Series 2011-3 (AMOT 2011-3). It was upsized to $750 million from $500 million.

Barclays Capital and Goldman Sachs have released price guidance on the 144A ABS for drive-in restaurant chain Sonic Corp. called SONIC Capital Series 2011-1.

Janus Capital Group named John Kerschner as head of securitized products for Janus’ fixed-income investment team.

New York-based independent fixed income broker-dealer Odeon Capital Group hired Bret Ackerman as a director and senior vice president in the firm's sales and trading group.

Fitch Ratings has set up a page of performance markers for structured finance deals across the globe on its web site, the agency said today. The page will link to over 40 performance-based products, and in part is a response to investor demands for more transparency. Among its features are U.S. RMBS performance and loss metrics, Australia’s RMBS Dinkum Index, and the Mexican RMBS Performance Update.

After Asset Securitization Report sister publication National Mortgage News reported that Kondaur Capital Corp. CEO Jon Daurio was leaving the firm, Kondaur just said that its Board of Directors has formed an Office of the Chairman to be headed by John Kontoulis and Greg Gault.

The New York Federal Reserve conducted its sixth auction from its Maiden Lane II portfolio today.

The Financial Industry Regulatory Authority (FINRA) issued a trade reporting notice today regarding when to report ABS to the Trade Reporting and Compliance Engine (TRACE).

European securitization activity picked up after the Easter bank holiday lull when deal flow tapered off in April.

Assured Guaranty’s recent settlement with Bank of America allowed it to post much higher operating earnings in the first quarter compared with 2010, but actual business production fell about a third.

Ambac Financial Group, the holding company for bankrupt bond insurer Ambac Assurance, has agreed to settle a lawsuit claiming it misled shareholders about the risks the company took on insuring subprime mortgages.

The recovery prospects for second-lien holders in residential foreclosures keep looking dicier.

John Daurio, chairman and CEO of Kondaur Capital, is stepping down as the day-to-day manager of the nonperforming loan (NPL) investing firm, according to officials close to the situation.

Reported incidents of subscriber-verified mortgage fraud and misrepresentation by industry professionals have decreased from 2009 to 2010, according to a recent report by the LexisNexis Mortgage Asset Research Institute. Actual incidents, however, as opposed to reported, are believed to be up.

After months of stalemate, the state attorneys general have proposed new terms to the top five mortgage servicers that drop some controversial provisions of their first attempt at a settlement, including a push to force banks to reduce principal on thousands of mortgages.