Securitization

Ally Bank has filed a prospectus supplement with the Securities and Exchange Commission to issue $500,000 million worth of notes under its Ally Master Owner Trust Series 2011-1.

A nationwide coalition of state pension funds are asking the nation’s biggest banks once again to “immediately” begin examinations of their mortgage and foreclosure practices through corresponding in-house Audit Committees.

The Federal Housing Administration (FHA) on Monday revised the November seriously delinquent rate for FHA-insured single family loans down to 8.34%.

Delta Lloyd’s €700 million ($906 million) ARENA RMBS deal kicks off 2011 issuance for European RMBS.

CNH Capital is in the market with a transaction called CNH Wholesale Master Note Trust Series 2011-1. The offering is managed by Deustche Bank Securities.

Millions of delinquent or foreclosure loans in need of default management assistance have created demand far and beyond the capacity of existing specialty servicers that, in return, is fostering the creation of mega-servicer shops.

So far, some think the market for distressed portfolios could be more active in 2011.

The Massachusetts Supreme Judicial Court ruling concerning improper foreclosures on two homes leaves open a solution to the chain-of-ownership cloud that is hanging over securitization, market analysts said.

Amherst Securities Group hired three mortgage industry veterans to expand its sales division. The executives are Peter Davidson, Chris Heaney and Chris O'Neill.

A ruling by Massachusetts' highest court Friday repudiating a widespread securitization practice could scuttle other foreclosure cases statewide and may portend similar blows to the industry elsewhere.

Modifications of securitized commercial real estate (CRE) loans more than doubled in 2010 from the previous year, according to a new report from Standard & Poor's.

Federal Reserve Board chairman Ben Bernanke said he is dismayed by the persistence of high foreclosure rates, declining home values, and the futility of government efforts to engineer a recovery in the housing market.

Massachusetts' highest court on Friday voided foreclosures on two homes because the servicers that tried to take title to the properties failed to show they held the mortgages at the time of foreclosure.

Some yearend bank deals gave new meaning to the abbreviations M&A and CRE: More Anxiety about Crummy Real Estate loans.

Ellington Management Group hired Leo Huang as portfolio manager for commercial real estate (CRE) debt. Huang will report to Michael Vranos, Ellington’s founder and chief executive.

PHH Corp., Mt. Laurel, N.J., could write up the value of its mortgage servicing rights by between $125 million and $175 million for 4Q10, an earnings preview report from FBR Capital Markets predicted.

The 30-year conventional speeds in December were slightly slower versus expectations of a slight increase.

In the Chinese Zodiac, 2011 is the year of the rabbit. But in leveraged finance, 2011 may be the year of the CLO, with this investment vehicle bringing more deals to the leveraged loan market.

Citigroup is soliciting potential buyers for its subprime lending unit CitiFinancial, the Financial Times reported Friday, citing sources it did not identify.

Covered bond issuance is off to a strong start with at least 12 deals being marketed from issuers across Europe.