Securitization

Impact Community Capital priced an over $302 million affordable multifamily housing mortgage deal.

Mortgage Industry Advisory Corp. will auction off a portfolio of mortgage servicing rights tied to $1 billion of loans controlled by Freddie Mac.

Citigroup has hired Peter Babej, the former co-head of Americas financial institutions at Deutsche Bank, according to a Bloomberg report.

Standard & Poor's has commented on one of the key issues looming over the European housing market.

After financial reform, GSEs should be the next sector dealt with, said Federal Deposit Insurance Corp. (FDIC) Chair Sheila Bair at the University of Pennsylvania today. Text of her speech follows:

The U.K.'s decision this week to scrap the Financial Services Authority (FSA) may signal that consolidated supervision doesn't work. But more likely it shows that the structure of bank regulation is beside the point.

Pillsbury has acquired a large group of finance and corporate attorneys from Nixon Peabody.

William Winters, the former co-head of investment banking at JPMorgan Chase, has been named as an adviser to the British government, according to a DealBook report.

CU Student Lending has released one of the lowest rates available nationwide for private student loans.

In the wake of a criminal indictment against the owner of Taylor Bean & Whitaker, the Inspector General for the Department of Housing Urban Development is projecting at least $3 billion in losses for the government, perhaps more.

Integrated Asset Services (IAS) has completed a planned transition of its day-to-day management, the firm announced today.

The covered bond sector was a hot topic at this week’s Information Management Network Global ABS 2010 held in London.

Ally Bank is in the market with a $792.3 million transaction. Deutsche Bank Securities, JPMorgan Securities and RBS Securities are lead managing the securitization.

Despite the ABCP market initially getting help from the European Central Bank (ECB), program sponsors across the pond are still struggling with having a smaller market and a limited investor base.

Meridian Capital Group has hired Chad Johnson as a managing director in its commercial originations group.

The Securities and Exchange Commission (SEC) Wednesday accused the former owner of Taylor Bean & Whitaker (TBW) with orchestrating a massive equity and MBS fraud tied to his firm's warehouse borrowings from Colonial Bank, a depository it tried to take control of last summer using Troubled Asset Relief Program (TARP) money.

The regulator of Fannie Mae and Freddie Mac said it is directing the troubled GSEs to move the trading of their stocks to the Over-the-Counter Bulletin Board market while declining to answer questions about a reverse stock split.

Refinancing and purchase activity rose in the week ending June 11 as 30-year fixed mortgage rates declined to the low 4.70s on Freddie Mac's survey. The Mortgage Bankers Association reported that the Refinance Index jumped 21.1% to ~3462 - its highest level since May 2009.

Jefferies has added two professionals to its fixed income emerging markets sales and trading efforts in Asia, the firm announced today.

The second day of Information Management Network’s Global ABS 2010 conference started with a panel that looked back at the financial crisis.