Securitization

Markit will be acquiring Wall Street On Demand, a provider of hosted information services to the financial services industry, the firm announced today.

Legislation to retroactively extend deposit insurance coverage of $250,000 per account at all banks that failed in 2008 is gaining ground, and could even be folded into the financial reform bill.

Knights Capital Group has agreed to invest in Equiduct Systems, the pan-European equities trading platform.

The American Securitization Forum (ASF) appointed Armando Falcon as Senior Policy Advisor.

The American Securitization Forum (ASF) focused on regulatory issues facing the ABS industry — ranging from FAS 166/167 to SEC Rule 17g-5 — at its annual meeting today in New York.

Ambac Financial Group said that it has commuted all of its remaining $16.4 billion of exposure to CDOs of ABS.

Oracle Capital, a hedge fund start-up founded by two former Lehman Brothers traders, has selected Quantifi XL for the pricing and analysis of their structured credit portfolio.

Freddie Mac is issuing another $1 billion security backed by apartment loans as part of its 'K-Certificates' program.

The International Organization of Securities Commissions (IOSCO) said it appointed Hans Hoogervorst as Chairman of the IOSCO technical committee. His term will run for two years.

The New York State Assembly has proposed a bill that may limit issuers from including receivables issued in New York state in auto loan securitizations, DBRS said today.

The conventional 30-year prepayment reports for May were uneventful. The 30-year FNMA speeds were in line with expectations.

European and U.S. industry groups voiced their concerns over a proposed increase in ABS and CDO post-trade transparency disclosures in a joint letter to the Committee on European Securities Regulators (CESR).

Bank of America has agreed to pay the Federal Trade Commission (FTC) $108 million to cover foreclosure-related servicing abuses by Countrywide Home Loans (CHL), the mega lender/servicer that it purchased almost two years ago.

U.S. subprime CDS have increased to levels not seen since late 2008, according to Fitch Solutions’ latest subprime RMBS total market price index.

Investors continue to diversify into riskier assets, according to a survey issued today by bfinance.

The House of Representatives is expected to vote on and pass legislation next week giving the Federal Housing Administration (FHA) more flexibility in adjusting mortgage insurance premiums and tools to rebuild its capital reserves.

WASHINGTON — With lawmakers intent on sending a final regulatory reform bill to President Obama by July 4, much of the legwork is already happening behind the scenes on how to tackle a host of unresolved issues, including a proposed swaps ban, a stringent capital requirement, interchange fee regulation and a consumer protection agency.

New Jersey Higher Education Student Assistance Authority is in the market with a $280 million transaction. The offering is backed by private student loans.

G2 Investment Group, a New York-based money manager, has scooped up a former Lehman Brothers’ private placement and illiquid credit trading team, the firm said yesterday.

Mortgages performed well in the holiday-shortened week and the beginning of June.