Securitization

In a Federal Deposit Insurance Corp. (FDIC) statement released today on the legislative proposals to create a U.S. covered bond market, the agency said that it has "significant concerns" regarding the United States Covered Bond Act of 2011 (H.R. 290).

Australian RMBS issuer Perpetual is in the market with SMHL Securitisation Fund 2011-1 worth A$600 million.

When David Stevens took over in July 2009, the Federal Housing Administration (FHA) was in such dire financial straits that he says there was a real threat of the agency being temporarily shut down.

Larry Goldstone, once a top player in the Jumbo and "super" Jumbo market through his now defunct firm Thornburg Mortgage, is trying for a comeback in the business.

Portfolio managers are trying to assess the damage the repricing tidal wave has inflicted on their funds, with most dreading what their returns will look like once the water recedes, while other say the damage will be light.

Provident Funding Associates, the second largest privately held nonbank mortgage lender in the U.S., this week filed a registration statement with the Securities and Exchange Commission to create a publicly traded REIT by raising $300 million in capital.

The Federal Reserve Bank of New York has received a formal offer from American International Group (AIG) to repurchase the assets in Maiden Lane II, LLC (MLII).

Prospect Mortgage said it has started offering prime Jumbo loans with balances of up to $2 million. It plans to sell these loans to firms aiming to tap the private-label MBS market.

Brazos Higher Education Authority (BHEA Series 2011-1) is offering a $1.5 billion student loans ABS.

A new £350 million ($565.4 million) U.K. RMBS deal for the Skipton Building Society began marketing this week, according to market reports.

Servicers are bracing for a challenging future where the way they redefine their risk-pricing measures will determine their ability to survive.

The 12 Federal Home Loan Banks (FHLBs) are joining together to boost their capital strength and hopefully stave off harsher measures the Obama administration is considering.

A proposed settlement between the five largest servicers and state and federal agencies was reportedly distributed to the largest banks and to select government officials.

Several prominent Republicans, including Sen. Richard Shelby, the Banking Committee's top Republican, sharply criticized a proposed settlement between the five largest servicers and state and federal agencies, arguing that the government authorities were trying to usurp Congress' role.

Banks could turn to covered bonds as a possible solution to balance sheet woes, industry sources said.

Lenders can and should take any number of steps to prevent class action law suits. But that still may not keep them from being sued, a team of regulatory attorneys warned at the Real Estate Service Providers Council's annual meeting in Las Vegas.

Although executives at Fannie Mae and Freddie Mac would love to see their dividend payments to the U.S. Treasury cut in half, it's unlikely that it will happen, according to a new report from Keefe, Bruyette & Woods (KBW).

House Republicans are set to send a letter today to Treasury Secretary Tim Geithner raising concerns about a proposed settlement deal between the five largest servicers and various state and federal enforcement agencies.

If banks were looking for a palatable trade-off in state and federal regulators' plan to revamp mortgage servicing practices, they didn't find it.

The Federal Deposit Insurance Corp. (FDIC) said it will not be looking at risk retention and qualified residential mortgage (QRM) provisions as part of its agenda for its March 15 board meeting.