Securitization

Players in the European consumer ABS sector are asking for more deal data and prefer simpler securitization structures.

Speakers at Information Management Network’s Global ABS 2010 discussed what it would take to rebuild the European ABS market and the factors hindering it from coming back at a panel called Restoring Confidence and Rebuilding the Industry: The Role of Securitization.

Responding to the Securities and Exchange Commission's (SEC) proposed changes to Reg AB for ABS, BNY Mellon introduced new modeling and reporting capabilities.

CRE Finance Council announced the succession of Lisa Pendergast as President of the organization for June 2010-June 2011.

By now you've seen the stories and heard the industry chatter about how the nonperforming loan market is humming along like a well-oiled Toyota, which might be an apt metaphor since the Japanese carmaker has a good reputation but its models keep breaking down.

Meridian Capital Group, New York, has named Chad Johnson managing director of its commercial originations group.

IMH Secured Loan Fund, a real estate investment company, has received the required 51% approval needed from existing investors to go public.

Carlos Mendez will lead the newly created structured finance group at Sandler O’Neill and Partners, the firm announced today.

European ABS investors showed strong support for increased issuance in the ABS public market, according to a survey published today by Bishopsfield Capital Investors.

The opening of Information Management Network’s (IMN) Global ABS 2010 was marked by some hope for a European ABS market resurgence.

Many finance directors at different U.K., French and German firms indicated that they intend to make more use of receivables-based financing, according to a study by Demica.

The Federal Deposit Insurance Corp. has once again pushed back the auction deadline on the $23 billion AmTrust servicing portfolio, ASR's sister publication National Mortgage News has learned.

The Mortgage Bankers Association (MBA) is pleased with the National Association of Insurance Commissioner's (NAIC's) shelved the proposed increase in the risk-based capital (RBC) factor from 2.6% to 4.0%.

Ford Motor Credit Co. has filed a shelf registration for a new auto receivables securitization deal using the Ford Credit Auto Owner Trust.

EFS Volunteer is in the market with a $227.9 million transaction. The offering is backed by FFELP.

Bank of America Trust 2010-2 is in the market with a $1,002.1 million transaction. The offering is backed by automobile loans.

Freddie Mac and Fannie Mae have selected Veros Real Estate Solutions as a technology vendor for their Uniform Collateral Data Portal (UCDP).

The performance of Portuguese residential mortgage-backed securities was mixed in April, according to a report from Moody's Investors Service.

Securitization market participants appear to be unified on eight issues related to risk retention proposals and split on two, according to a draft report by a group that represents both the "buy" and "sell" side of trades.

RAM Holdings Ltd. announced the repurchase of $25.0 million of its 6.875% senior notes due 2024 for $14.3 million, realizing a gain of $10.7 million.