Securitization

A new estimate by the Treasury Department shows the bailout of Fannie Mae and Freddie Mac will cost taxpayers an additional $73 billion through 2021.

According to the Treasury International Capital System (TIC) January data, the total net purchases, which refer to purchases and sales and exclude paydowns on agency MBS, were $6.3 billion.

If settlement talks between the states and residential servicers break down, the nation's megabanks will face the prospect of lawsuits from up to 30 state attorneys general, according to Sen. Jack Reed, D-R.I.

Mortgage Bankers Association (MBA) President and CEO John A. Courson will be leaving the association effective June 1.

Four former superintendents of the New York Insurance Department (NYID) argued Sunday that the regulating body didn’t have the authority to approve bond insurer MBIA’s February 2009 restructuring.

Treasury Secretary Tim Geithner defended Elizabeth Warren's role Tuesday in the ongoing settlement talks between the top mortgage servicers and the state attorneys general and several federal agencies.

A deal backed by multiple assets and ownership interests in 37 multi-use communication tower sites called Richland Towers, LLC Secured Multi-Use Communication Tower Revenue Notes, Series 2011-1 is in the market.

Santander Consumer USA is in the market with a $526.3 million auto receivable deal named Santander Consumer Acquired Receivables Trust 2011-S1 (SCART 2011-S1) managed by Citigroup Global Markets.

With fears mounting that the GSEs may soon alter servicing compensation in a significant way, at least one Wall Street firm is making the rounds offering a 'sale leaseback' deal to some of the nation's largest holders of MSRs, ASR sister publication National Mortgage News (NMN) has learned.

The Obama administration's proposals to support the development of a covered bond market and limit large bank access to the Federal Home Loan Bank (FHLB) advance window could weaken the FHLB System, according to a new report from Moody's Investors Service.

Four major industry trade groups are urging Senate Judiciary Committee members to vote against a bill that allows U.S. bankruptcy courts to set up loss mitigation programs where homeowners and servicers can negotiate a loan modification.

Prestige Financial Services (PFS) is in the market with Prestige Auto Receivables Trust 2011-1 (PART 2011-1), a six-tranche subprime auto loan receivables managed by JPMorgan Securities. The deal is worth $221.62 million.

New rules from Mexico’s banking regulator are an auspicious move for future securitizations from this sector, according to Maria Muller, senior vice president at Moody’s Investors Service.

As previously reported by StructuredFinanceNews.com (see related story via this link), last week the American International Group (AIG) in a letter to the Federal Reserve Bank of New York (New York Fed) offered to repurchase all of the RMBS held by Maiden Lane II LLC (ML II) for $15.7 billion in cash.

Wyndham Worldwide Corp. is in the market with Sierra Timeshare 2011-1 Receivables Funding (Sierra Timeshare 2011-1), a $250 million transaction.

Former Fannie Mae CEO Daniel Mudd, who oversaw the GSE's huge expansion into nonprime investing and securitization, late last week received a "Wells Notice" from the Securities and Exchange Commission (SEC) indicating that he may face civil charges for allegedly misleading investors about the company's financial condition.

After uncovering significant problems in the foreclosure process, the 50 state attorneys general and several federal agencies delivered a 27-page list of demands to the five largest mortgage servicers, requiring upgrades and changes throughout their systems.

Denver-based asset management and structured finance firm The Chotin Group Corp. hired Paul Isherwood as chief investment officer who will oversee analysis, trading and management of Chotin’s proprietary investment portfolios.

Far more than any trader's profane emails, due diligence reports from the securitization boom could worsen the financial industry's litigation headaches — and conceivably expose some firms and individuals to criminal charges.

The Federal Housing Finance Agency (FHFA) extended the Home Affordable Refinance Program (HARP) another year.