Securitization

The CRE Finance Council (CREFC) has named Stephen Renna as CEO effective May 1. Renna brings over 22 years of experience in the commercial real estate (CRE) business, holding senior-level positions in legal and policy affairs as well as in trade association management.

Moody's Investors Service has developed an application that allows investors to compare deal performance on private student loan ABS.

The first bid list for the Maiden Lane II portfolio has begun to circulate, according to market reports. The sale is the first since the Federal Reserve rejected AIG’s offer to repurchase the securities for $15.7 billion.

REITs delivered their first-quarter gains in spite of slightly negative returns in March. The FTSE NAREIT All Equity REITs Index was down 1.28% in the month, and the FTSE NAREIT All REITs Index was down 1.38%, while the S&P 500 was up 0.04%.

Federal banking regulators are set to release new guidelines Monday that they hope will restore the battered reputation of risk models — widely disparaged as a result of the financial crisis — by forcing banks to improve how they design and implement them.

To clear up mortgage ownership issues quickly, banks and servicers should set up a multi-billion dollar fund to pay homeowners who are willing to accept their ownership of the mortgage note, according to Federal Deposit Insurance Corp. (FDIC) chairman Sheila Bair.

When it comes to the business of mortgage servicing now may not look like the best time to jump in.

Banca Popolare Vicenza has mandated UniCredit Bank, JPMorgan, the Royal Bank of Scotland and UBS as joint leads for its upcoming BERICA 9 prime Italian RMBS transaction.

The Treasury Department late Friday issued its first ever scorecard on HAMP second lien modifications, noting that from April of last year to February, servicers restructured 17,000 junior liens.

Only a "small fraction" of the nation's 3,000-plus counties will be impacted when the formula that determines the conforming loan limit changes in October, according to an analysis by the Federal Housing Finance Agency (FHFA).

As industry participants debate rules designed to restart securitization of private-label mortgages, another corner of this market is showing signs of life: the nonguaranteed portion of loans backed by the Small Business Administration (SBA).

Manager Activity: Autos Book Runner Amount (US$ Mil) Rank Mkt.

Last week the CRE Finance Council (CREFC) described how its members are seeking some flexibility with respect to risk-retention requirements in a Wall Street Journal article.

Australia's Perpetual is in the market with an RMBS called Barton Series 2011-1. The five-tranche deal is rated by Standard & Poor's and Fitch Ratings.

The Japanese earthquake and the crisis that resulted should put pressure on Hawaiian tourism.

The Senate Judiciary Committee has approved a bill that would clarify the authority of the U.S. bankruptcy courts to run mediation programs that facilitate negotiations between struggling homeowners and servicers to prevent foreclosures.The committee passed the measure on a 10-8 party-line vote. With all eight Republicans voting against it, it is unlikely the bill, sponsored by Sen. Sheldon Whitehouse, D-R.I., will ever reach the floor of the Senate.

Assured Guaranty Municipal Corp. hopes to double its secondary market public finance business with the launch of a Web platform rolled out on Thursday.

As developments like the Federal Reserve Bank of New York’s plan to gradually and competitively sell nonagency RMBS from the “bailout” period into an improved market suggest, it looks like we’re starting to put the recent downturn behind us in some respects.

Certain of the nation's megaservicers have agreed to sign a modified consent order with Federal regulators as part of a first step to inking a final settlement between the industry and 50 state attorneys general, sources familiar with the matter said on Friday.

Frustrated by the lack of progress with a global settlement between the 50 state attorneys general and the top mortgage servicers, federal banking regulators are expected to move forward with their own enforcement actions against 14 servicers as early as next week.