Securitization

Eversholt Funding Plc (EFP), the new whole business securitization program issued by HSBC Bank's Eversholt Rail Group, is looking to launch a multi-currency senior secured bond program.

Despite the primary markets somewhat opening and previously retained offerings being placed in 2010, the overhang of retained securitized debt stayed significant, according to the quarterly report, according to a report from the Association for Financial Markets in Europe (AFME) and the European Securitization Forum (ESF).

LECG XPRT and NewOak Capital have announced an affiliate relationship to provide a broader scope of services to the financial services industry.

Credit Suisse is marketing a €1.5 billion ($2.05 billion) covered bond, marking the bank's debut into this European sector.

Moody's Investors Service weighed in on the widespread foreclosure-document problems with a report Wednesday questioning whether custodians followed industry standards in tracking and holding original mortgage notes in their files.

Citigroup, an active seller of nonperforming residential loans, recently sold a $1.4 billion pool of multifamily and commercial mortgages to OneWest Bank, Pasadena, Calif., for an undisclosed sum.

Regulators are close to the final version of the implementation of minimum due diligence requirements under the European Capital Requirements Directive Rule 122A.

Conceptually speaking, packing thousands of modified Federal Housing Administration (FHA) loans into Ginnie Mae pools should reduce prepayment speeds. In fact, that’s what some Wall Street dealers were counting on, but it appears they bet the wrong way, and their securitization strategy backfired.

BlackRock hopes to invest upwards of $1 billion in jumbo mortgages with the hope of eventually issuing securities backed by the loans, according to secondary market officials familiar with the plan.

Venable hired five lawyers to its real estate group, led by three partners based in Washington DC, New York and Baltimore. The group was formerly at WilmerHale and has a combined 42 years of experience.

Federal regulators should allow three-year ARMs and certain interest-only loans to be classified as "qualified mortgages" that will be exempt from risk retention rules, according to the Mortgage Bankers Association (MBA).

Cole Real Estate Investments hired Eric Costa as director in the asset management and dispositions group as announced by Marc Nemer, the firm's president.

Ambac Financial Group hurried into bankruptcy protection this week because it was worried the Internal Revenue Service (IRS) might gut the entire company — including its sacrosanct bond insurance subsidiary, according to court documents.

CNH Capital America is in the market with a $721.201 million deal called CNH Equipment Trust 2010-C.

The Financial Industry Regulatory Authority (FINRA) said it fined Goldman Sachs $650,000 for failing to disclose that two of its registered representatives had received Wells Notices, which indicate that investigations of operating practices are under way.

Freddie Mac said it expects to offer around $1.1 billion in structured passthrough certificates (K Certificates), multifamily MBS.

Though the Consumer Financial Protection Bureau (CFPB) has jurisdiction over a wide range of financial products, Elizabeth Warren is making credit cards her top priority.

Amherst Securities is advising investors to be overweight on MBS, telling them that prepayment speeds are not really a factor – despite ultra low mortgage rates.

AmeriCredit Financial Services is further boosting volume in the auto sector with a deal called AmeriCredit Automobile Receivables Trust 2010-4 (AMCAR 2010-4).

Ambac Financial Group announced late Monday it filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.