Securitization

Ally Financial has completed the sales of its European mortgage assets and operations to Fortress Investment Group, effectively exiting the European market.

Speakers at the Information Management Network’s (IMN) ABS East conference discussed the role of securitization in boosting the country’s economy. The IMN gathering is being held in Miami Beach this week.

Analyzing credit risk in the RMBS sector has increasingly become more granular post crisis, said participants in yesterday afternoon’s panel at the Information Management Network’s ABS East conference. The gathering is being held this week in Miami Beach.

Anworth Mortgage Asset Corp., which buys MBS in the secondary market, reported a third quarter common dividend of $0.23 a share, an 8% reduction from the dividend declared in the second quarter.

ABN Amro priced its €3.9 billion ($5.3 billion) RMBS issue from its Goldfish Master trust program, according to market reports.

Manager Activity: Autos Book Runner Amount (US$ Mil) Rank Mkt.

As the U.S. grapples with staging a private-label mortgage market comeback, some analysts have pointed to the Danish mortgage market model as a possible solution.

Lewtan's ABSNet Loan HomeVal property valuations provide quite stark valuation differences on underlying properties of RMBS transactions relative to Federal Housing Finance Agency (FHFA), Case-Shiller 20 (CS20), and combinations of the two.

Rule 122a stipulates the main investor requirements with which banks have to comply. The regulation calls for these financial institutions to have formal procedures and operations in place to monitor - on an ongoing basis and in a timely manner - performance information on the underlying exposures in structured finance assets.

Following a system error, Standard & Poor's reviewed its loss projections for 50 U.S. RMBS deals backed by different collateral types, such as Alt-A, HELOC, prime Jumbo, scratch-and-dent, subprime, and seasoned mortgage loans issued from 1994-2007

Wells Fargo has stopped granting extensions for distressed homeowners to complete short sales, a move that will expedite foreclosures.

As the Financial Stability Oversight Council prepared to hold its first meeting Friday, members of the panel faced open doubts from lawmakers and others about how fast it can move and what it can accomplish.

If the government does not improve and fix the nation's loan modification process, more than 11 million consumers – representing 20% of all outstanding home mortgages in the U.S. – could lose their homes, according to a new report from Amherst Mortgage Securities.

The Office of the Comptroller of the Currency (OCC) has ordered seven of the nation's largest residential bank servicers to review their foreclosure processes in the wake of revelations by Ally Financial that it had cut corners when taking title to homes backed by delinquent mortgages.

Fitch Ratings formally reviewed 99% of its U.S. structured finance ratings over the past 12 months as of August 2010, the rating agency said today.

The Richland Cos. hired Andy Carey and Roy Elengical as tenant representatives in its Houston office.

Rumblings of a private-label RMBS revival have made the rounds for months now. Redwood Trust’s RMBS securitization last spring created some optimism that other issuers would follow.

The EU CRD changes to Rule 122a segregate financial institutions between those that comply and those that don't.

Last Monday, the Federal Deposit Insurance Corp.'s (FDIC) board of directors approved the final rule to replace its Safe Harbor transition rule on securitization. The finalized version extends until Dec 31 the transitional Safe Harbor - allowing the ABS market three months to adjust to the final rule's requirements.

For the last three quarters of 2010, U.S. public ABS issuance reached $44.17 billion, according to preliminary figures from the ASR Scorecards database.