Securitization

Regulatory reform survived its last significant hurdle Thursday with the Senate moving to block further changes and hold a final vote on the bill.

With U.S. financial reform nearly through, eyes are turning to the Basel Committee on Banking Supervision, which is hammering out a set of regulatory standards intended to lay the foundation for a global overhaul.

Freddie Mac reported that 30-year fixed mortgage rates for the week ending July 15 remained the same from last week. Current rates are at their record low of 4.57% (with an average 0.7 point).

Mesirow Financial has hired industry veteran Stephen Jacobson to build and lead its credit tenant lease (CTL) team, the company said.

JPMorgan Chase CEO Jamie Dimon said his company was one of "many" broker/dealers that received a subpoena from the Federal Housing Finance Agency (FHFA).

Annaly Capital Management, New York, hopes to raise $1.1 billion through an additional stock offering, using the proceeds to buy MBS.

The Federal Deposit Insurance Corp. (FDIC) will begin taking final bids on the $23 billion AmTrust Bank residential servicing portfolio by the end of July with a winner picked shortly thereafter, investment banking sources said Wednesday.

Fitch Ratings said that the Financial Services Authority's (FSA) proposed ban on self-certified and fast-tracked mortgages is unlikely to affect the agency's U.K. RMBS ratings.

PERILS has reported that in the first six months of 2010, the total placements of insurance risk deals based on PERILS industry loss index exceeded $250 million.

The Federal Deposit Insurance Corp. (FDIC) closed on a sale of 40% equity interest in a limited liability company (LLC) created to hold assets with an unpaid principal balance of around $1.85 billion from 22 failed bank receiverships. Barclays Capital advised the FDIC on the transaction.

Reinsurance specialist Guy Carpenter appointed Martin Pepper as head of its London-based marine and energy practice effective Aug. 16.

Student loan ABS has been seeing some movement this week.

Subprime residential lending is making a comeback of sorts, except that none of the firms funding the loans call the product "subprime."

With the votes lined up, the Senate Tuesday was poised to set in motion the final countdown to a vote on financial regulatory reform.

Despite record low mortgage rate levels, mortgage application activity slipped with both refinancing and purchase activity lower in the week ending July 9.

Hogan Lovells has added to its debt capital markets and structured finance team in the U.S. by hiring Emil Arca as a partner. Arca will be based in the New York office.

Kroll Bond Ratings made public the members of its senior management team, which include experts from a range of financial disciplines.

Simmons & Simmons has named Samer Eido as Middle East finance head, according to a report by legalweek.com.

Senate Democratic leaders have rounded up three Republican votes and are close to securing passage of the Dodd-Frank Wall Street Reform bill.

Two private investors have teamed up to buy a roughly $1.2 billion pool of mostly nonperforming residential whole loans offered by the Federal Deposit Insurance Corp. (FDIC), investment banking officials and sources close to the deal confirmed to National Mortgage News.