Securitization

Moody's Investors Service placed the mortgage servicer quality (SQ) ratings of MetLife Home Loans, Litton Loan Servicing, and Bayview Loan Servicing on review for possible downgrade yesterday.

Reacting to what it termed as "misinformation circulating within the financial markets, " the American Securitization Forum (ASF) today released a statement standing behind the validity of transfers of residential mortgage loans to securitization trusts. This is in reaction to recent discussion around the market claiming otherwise.

Noting new life in the market for CMBS, a survey of industry specialists suggested that issuances could once again reach $100 billion by 2013.

For a short two-week period, the Rural Housing Service (RHS) was guaranteeing loans again, but that came to end on Oct. 1.

Standard & Poor's examined the implications of the Federal Deposit Insurance Corp.'s (FDIC) recently approved changes to the Safe Habor rule. The rule refers to the applicable legal regime to financial asset tranfers by banks for securitization purposes if the financial institution becomes insolvent.

A widely used third-party registry of mortgage assignments has found itself in the center of “foreclosure-gate,” amid allegations that its service is part of the greater issue of faulty or even illegal foreclosure practices plaguing the lending industry.

CRE Finance Council's Chief Executive Officer Dottie Cunningham has resigned from her position.

The Federal Housing Finance Agency (FHFA) said Wednesday that foreclosures "should proceed without delay" if servicers have not identified any problems with foreclosure documents.

As questions have mounted about the legality of thousands of foreclosures across the country, lawmakers have ratcheted up the rhetoric in criticizing lenders and urging them to take actions to help homeowners. But a key issue remains: What will Congress do about it?

The $3.847 billion securitization for the National Credit Union Administration (NCUA) has come to market. This is the first in a series of securitizations for the NCUA.

Trinity Industries has a railcar lease-backed transaction called Trinity Rail Leasing 2010-1 (TRL 2010-1).

Federal Deposit Insurance Corp. (FDIC) Chairman Sheila Bair said the growing robo-signing scandal was symptomatic of the poor incentives that marred the securitization market, but she opposed a universal freeze on foreclosures.

Primus Guaranty and Commercial Industrial Financial Corp. (CIFC) expect to complete the proposed purchase by CIFC of Primus’ CypressTree Investment Management unit and the CLOs and structured credit funds it manages by the end of the month.

Bingham expanded its Hong Kong office by adding three partners namely, Laurence Isaacson, Vincent Sum and Mark Fucci.

Freddie Mac reported fixed mortgage rates plunged in the week ending Oct. 14 with new record lows set on 30- and 15-year terms.

Odeon Capital Group expanded into the Midwest market by opening an office in Chicago and hiring a securitization expert to lead the new location's trading desk.

Prime RMBS performance in Spain looked relatively stable month-to-month in August, but the full impact of the country's record high unemployment has not yet taken full effect, according to a Moody’s Investors Service report.

The Paragon Group of Cos. appointed Peter Shorthouse as director of treasury and structured finance.

The Securities and Exchange Commission (SEC) is considering rules that would require ABS issuers to perform a review of the assets underlying the securities, and to disclose information relating to the review.

Markit has agreed to acquire the Loan/SERV messaging portal from the Depository Trust & Clearing Corporation (DTCC).