Securitization

The Bank of England (BoE) has introduced additional eligibility and disclosure requirements for ABS and covered bonds to be accepted in its operations. It has also extended the range of collateral eligible for its discount window facility (DWF) to include portfolios of loans to individuals and non-banks. The extension will take place in 2011.

The public auction for NextStudent Master Trust 1 is the first of its kind for U.S. student loan ABS and is a credit negative, according to Moody’s Investors Service.

Goldman Sachs’ settlement with the U.S. government comforted some Wall Street analysts on Friday and news of the settlement spurred at least one of them to change their outlook on the company.

Citigroup paid out $210 million for loan buybacks in both the first and second quarters, according to company executives.

The real estate segment at GE Capital, Norwalk, Conn., lost $524 million in the second quarter of 2010, about twice as much as a loss of $237 million for the same period one year ago.

JPMorgan Chase is taking a hard line with some borrowers who want to sell their homes for less than they owe on the mortgage and avoid foreclosure.

The Department of Housing and Urban Development (HUD) has requested public comment on proposed policy changes designed to reduce the risk of loans insured by the Federal Housing Administration (FHA).

Although the Senate finally voted Thursday to send regulatory reform to the president's desk, policy circles are already abuzz about what changes to seek in a "corrections" bill to fix problems with the legislation.

The Securities and Exchange Commission’s (SEC) division that reviews public company filings is creating three specialized offices to enhance its disclosure review and policy operations, the SEC announced today.

The Securities and Exchange Commission (SEC) said Thursday that Goldman Sachs agreed to pay $550 million and reform its business practices to settle charges that the securities firm misled investors in marketing a synthetic CDO known as ABACUS 2007-AC1.

This week two separate reports showed that vacancy rates in the commercial real estate sector have dropped. This bodes well for future CMBS performance.

Default rates on loans backing Japanese CMBS is at its highest to date, exceeding the previous peak of JPY192.4 billion ($2.2 billion) at end-September 2009, Fitch Ratings said in a report released today.

At the Securities Industry and Financial Markets Association's (SIFMA) regulatory reform summit held in New York yesterday, panelists discussed the just-passed regulatory reform bill's impact on the financial industry.

Panelists at the Securities Industry and Financial Markets Association’s (SIFMA) regulatory reform summit discussed the implications of the newly passed financial reform bill on the securitization industry. The gathering was held yesterday in New York.

Moody’s Investors Service has established a new team within its structured finance group. The brand new unit will conduct quantitative analysis and empirical research across asset classes and geographic regions.

Federal Reserve officials expect residential sales will "remain weak" now that the homebuyer tax credit has expired, according to just-released minutes of the June 22-23 Federal Open Market Committee (FOMC) meeting.

The Senate voted 60 to 39 this afternoon to approve sweeping changes to the financial regulatory system designed to address the causes of the 2008 financial crisis.

The U.S. Treasury Department has already started a rigorous implementation planning process to prepare for when the financial reform legislation is finalized.

Some second-mortgage holders are demanding that distressed borrowers giving up their homes through short sales pay off their junior liens — under the table.

Oregon Treasurer Ted Wheeler and Attorney General John Kroger have pursued legal action against Countrywide Financial in order to recoup nearly $29 million in losses that they say the state’s public retirement fund suffered during the mortgage crisis of year’s past.