Securitization

An ABS backed by diversified payment rights (DPRs), through Banco Santander Brazil, is currently making the rounds on the private placement market.

In 2010, commercial and multifamily mortgage origination volumes increased to $118.8 billion, up 44% compared to 2009, according to the Mortgage Bankers Association (MBA). And first liens accounted for 92% of the total dollar volume closed.

Deutsche Bank Securities hired Douglas Runte as a managing director and head of aviation debt research within its markets division.

Santander Consumer USA is in the market with Santander Drive Auto Receivables Trust 2011-1(SDART 2011-1). The eight-tranche offering, which is over $800 million, is backed by auto receivables.

Lenore Albert, a plaintiff's lawyer in Huntington Beach, Calif., said the consent orders federal regulators recently issued against the largest mortgage servicers gave her "another tool" to fight foreclosures.

Preliminary figures released today by Jones Lang LaSalle's research on global direct commercial real estate (CRE) investment volumes showed that these investments continue to appeal to a broad range of investors.

Avis Budget Car Rental is marketing ABS backed by rental fleet vehicles totaling $600 million.

Home prices fell 1.6% in February after a 1% dip in January as the GSE regulator's house price index hit yet another new low since values reached their peak in April 2007.

The Federal Home Loan Bank of Boston (FHLB of Boston) this week filed a complaint seeking to rescind the purchase of nearly $6 billion of MBS whose collateral is underpinned by loans to homeowners with sketchy credit.

The $5.2 million loan on the U.S. Geological Survey regional headquarters that was securitized in JPMCC 2010-C2 is 30-days delinquent, according to a report from Royal Bank of Scotland.

FICO launched an analytic advance that substantially improves lenders’ ability to identify borrowers at risk of strategic default on mortgages.

Standard & Poor's late Wednesday revised its outlook on the unsecured debt issuances of Fannie Mae, Freddie Mac and the Federal Home Loan Bank (FHLB) System to "negative" from "stable" while maintaining their 'AAA' credit rating.

Lee Farkas isn’t exactly a household name in America, but this week he became the first mortgage executive of a once top-ranked lender to be found guilty of a fraud with its roots in the housing bust.

Freddie Mac reported a plunge in mortgage rates in the week ending April 21 as Treasury yields dropped.

Jefferies appointed Paul Kopsky as a managing director in the firm’s military housing mortgage business. He will be responsible for sourcing and originating military housing bond issue transactions.

Numerous mortgage brokers and loan officers apparently rushed to get as many loans as possible into the pipeline before their compensation plans changed this month.

The hit to mortgages Wells Fargo & Co. reported Wednesday echoes the story of many banks this earnings season. The problem for Wells is that home loans are a bigger part of its business.

Capital One Financial Corp.'s net income rose nearly 60% in the first quarter as the credit card lender's chargeoffs fell and it set aside less money for future loan losses.

Sole lead Santander Investment Securities priced today a $160 million, 10-year deal backed by payment obligations linked to a pool of equipment that Mexico’s Corporacion Geo uses to build houses, said a source close to the deal. The yield came to 9.75%. Fitch Ratings and Standard & Poor’s rated the deal ‘BB-’. Fitch said that the rating is linked directly to the ‘BB-’ rating of Corporacion Geo, as the company is on the hook for the payments. The payments are made under the terms of a service agreement entered into by Corporacion Geo, various of its units, and Geo Maquinaria in exchange for the machinery utilization services for Corporacion Geo and its units.

Navistar Financial Corp. (NFC) is issuing a $120.1 million trucking and equipment loan securitization.