Securitization

The $3.847 billion securitization for the National Credit Union Administration (NCUA) has launched and is expected to price early afternoon today. This is the first in a series of securitizations for the NCUA.

A New York state judge has dismissed a lawsuit filed by hedge fund investors in 2007 against Countrywide Financial Corp. over soured MBS issued during the boom years.

Recent scrutiny of foreclosure executions related to allegations of procedural flaws could affect some securitization prepayments.

The 30-day plus delinquency rate on CMBS edged up in September to a new record of 9.05%, according to Trepp.

First Horizon National Corp. said declines in problem assets may have hit a temporary wall, with further improvement possibly on hold until mid-2011.

The nation's foreclosure crisis has resulted in loan closings being scuttled in some regions of the nation and fears are mounting that if the situation isn't rectified soon it will damage the one area where lenders are posting stellar profits: new originations.

Delinquencies for CDOs backed by commercial real estate (CRE) loans continued to climb in September, Fitch Ratings said Friday.

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.