Securitization

The New Mexico Public Employees’ Retirement Association (NMPERA) will consider a new investment for its alternatives portfolio next Tuesday.

Wells Fargo Home Mortgage is getting out of the reverse mortgage wholesale production channel, a spokesman confirmed. However, it still will originate these loans through the retail channel.

The Term ABS Loan Facility Loan Facility (TALF) earned $600 million of net interest income to date, which is equal to more than 2-1/2 percent of the TALF loans currently outstanding, according to William Nelson, Federal Reserve Board deputy director in the division of monetary affairs.

The $375 million One Park Avenue pari-passu loan securitized in BACM 2007-2 and BACM 2007-3 is expected to pay off at par. This effectively extends the unscheduled principal payment to these conduits deals' short-dated tranches, according Barclays Capital analysts.

Federal regulators issued a tough opening salvo in settlement talks with the largest servicers, presenting them with a 27-page term sheet that would force major changes to the industry and step up loan mitigation efforts.

Delinquencies on CMBS continued to climb in February, but new issuance may help to stem future late-pay increases, according to the latest index results from Fitch Ratings.

The government's embattled Home Affordable Modification Program (HAMP) lost momentum in January as the number of newly approved loan restructurings fell below 30,000 for the first time since October.

Fitch Ratings is monitoring the potential consequences that the earthquake that hit Christchurch in February might have on outstanding Fitch-rated New Zealand mortgage-backed transactions.

It has not even been a week after news broke that Jay Kim, co-head of Barclays Capital's U.S. asset securitization team, will be moving to Credit Suisse in May to head up the bank's asset finance team, bringing with him around 10 Barclays bankers.

A CMBS called GS Mortgage Securities Corp. Trust 2011-ALF is in the market. The transaction is is backed by the beneficial interest in a three-year loan, cross-collateralized first lien mortgage secured by 29 assisted living facilities (ALFs), according to a Fitch Ratings presale report.

As home lenders fret about a forthcoming regulatory proposal on risk retention, Freddie Mac will soon require a little more skin in the game from their borrowers.

The Mortgage Bankers Association's (MBA) Commercial/Multifamily Delinquency Report showed that in 4Q10, commercial and multifamily mortgage delinquency rates increased slightly for CMBS loans.

Lloyds TSB Bank and the Bank of Scotland issued a £1.45 billion ($2.35 billion) CLO of project finance loans.

Lawmakers pressed Federal Reserve Board Chairman Ben Bernanke on Wednesday about whether regulators have the legal authority to include servicing standards within a risk-retention rule.

Ally Financial said late Wednesday that the U.S. Treasury will be repaid $2.7 billion from the sale of all the Trust Preferred Securities that the agency holds in the bank holding company and mortgage lender.

Fixed related mortgage rates declined for the third straight week, according to Freddie Mac's weekly survey.

Credit-Based Asset Servicing and Securitization (C-BASS) founders Bruce Williams and Saul Sanders are talking to mortgage banker New Penn Financial in Plymouth Meeting, Pa., about buying the company, according to three sources familiar with the deal.

Total outstanding CMBS dipped by about $3.6 billion in the February remittance period, according to the CMBS credit handbook put out by Barclays Capital. The drivers include amortization, payoffs and liquidation.

MBIA still expects to pay more claims as the credit quality of the debt it insures erodes.

The Home Affordable Modification Program (HAMP) has helped more than 500,000 struggling borrowers with a median annual income of $46,000 remain in their homes, according to the Treasury Department, which found itself defending the program this week.