Securitization

There are three regulations that are causing a hullabaloo among CLO market participants.

With more borrowers filing legal challenges to foreclosure, many mortgage lenders have turned their back on using Merscorp, which operates an electronic loan registry, to bring foreclosure actions.

CarMax has a new $650 million auto loan securitization marketing that will offer investors three triple-A rated tranches as part of it capital structure.

Profiting from a relationship with behemoth Petroleos de Brasil, Brazil’s Odebrecht Oleo e Gas is tapping the structured finance for a whopping $1.5 billion. Santander and HSBC are reportedly arranging the deal. Neither bank returned requests for comment.

Consumers have stopped using their homes as personal piggy banks with cash-out refinancings falling to their lowest level ever in the third quarter, according to figures compiled by Freddie Mac.

Fixed mortgages inched higher in the week ending Oct. 28, according to Freddie Mac's weekly survey.

Cole Real Estate Investments hired David Collins as vice president in the asset management group. Marc Nemer, Cole president. announced the hiring.

The current — and somewhat robust — refinancing boom has to end sometime, and already mortgage bankers are asking the obvious: If home purchases don’t pick up, then what?

Home Affordable Modification Program (HAMP) compliance agents are targeting the 10 largest servicers to see if they exhausted all loss mitigation options before proceeding with foreclosure sales, according to a Treasury Department official.

One certain outcome from the foreclosure crisis is an increased liquidation lag across all U.S. states.

The Financial Industry Regulatory Authority (FINRA) is establishing a new effective date of May 16, 2011 for reporting ABS to the trade reporting and compliance engine (TRACE).

Standard & Poor’s predicts that the volume of outstanding structured finance securities in the U.S. as a percentage of GDP will fall to the 23%-25% range by the end of 2011, the weighting it had in 2003-2004.

The investor clearinghouse that Talcott Franklin, a firm that specializes in securitization remediation, is advising has gained momentum, said litigator Talcott Franklin. In several cases, deals have garnered up to 50% of investor voting rights,

Trapped for nearly a year in limbo, the Federal Home Loan Bank of Seattle may finally be seeing a way forward.

Swiss Re has securitized $175 million of notes backed by extreme mortality risk, which is the company's third deal in the last 12 months under its Vita Capital IV program.

Both refinancing and purchase activity rose in the week ending Oct. 22 as mortgage rates declined after rising in the previous week.

A handful of state attorneys general are taking a hard line with mortgage servicers by demanding loan modifications and principal reductions for those borrowers whose rights may have been violated by robo-signing.

An investment banking firm is warning federal regulators that a congressional mandate to stop relying on the credit ratings of Standard & Poor's and other agencies could be disruptive to the MBS market and increase capital requirements for depository institutions.

More details on the structural terms of the upcoming sizable CMBS deal from Extended Stay were revealed this week.

CIT said on Tuesday it earned 66 cents a share or $131.5 million in the second quarter, thanks to gains in its transportation finance and vendor finance businesses.