Securitization

Volkswagen has delayed pricing on its Driver One Espana deal yet again, according to market reports.

GMAC may be close to naming a chief financial officer and has considered appointing Barbara Yastine, the former CFO for investment banking at Credit Suisse Group and Citigroup, according to a report by Bloomberg.

Citigroup analysts said that the Greek crisis is not likely to have the same impact on the U.S. financial system as the U.S. mortgage debacle had on European economic activity.

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Large private-equity firms are buying up CLOs to generate higher returns for their investors, and the purchases have helped resuscitate a market that was in severe distress just a year ago.

Prepayments on FNMAs increased slightly less than expected: over 29% to a 34 CPR average versus a projected 36% increase to 36 CPR.

NewOak Capital appointed Mark R. Ruh as managing director and senior portfolio manager of financial services investments.

Volvo Financial Services is in the market with a truck receivables-backed deal underwritten by Bank of America Merrill Lynch and HSBC Securities. The four-tranche offering is worth $615.9 million.

Fears mounting over the contagion risks associated with Greece's woes caused the Dow to plunge by 1,000 points and then climb back up by 600 points.

The roughly $129.4 billion New York State Common Retirement Fund (CRF) has kicked in a half billion dollars to help prop up the Empire State’s mortgage market.

Two weeks after the Securities and Exchange Commission (SEC) leveled fraud charges against Goldman Sachs, the financial giant is said to be mulling settlement talks with the regulator, according to Fox Business Network.

The Federal Deposit Insurance Corp. will be meeting next Tuesday about the proposal to offer banks the safe harbor for securitizations.

Freddie Mac is seeking an additional $10.6 billion in government funding after reporting an $8 billion loss in the first quarter.

Mortgage rates eased in the week ending May 6 as Treasury yields declined on the flight to quality.

BlackBox Logic hired Cory Lambert as senior MBS analyst. He will be responsible for building collateral analytics using BBx Data, the company’s signature loan-level data aggregation service.

Alliance & Leicester is set to start marketing its second RMBS offering for 2010 from its Fosse Master Trust, according to a Reuters Report.

FinCap Financial Services (FFS) has formed a strategic joint partnership with MBSData. With the partnership, MBSData data will be available under the FinCap Financial Services platform Fin*Fusion.

Bank of America is in the market with a credit card deal called BA Credit Card Trust Class A (2010-1) Notes.

The Securities and Exchange Commission's (SEC) suit against Goldman Sachs centers on the allegation that the Wall Street firm failed to disclose to investors the role an opportunistic hedge fund, Paulson & Co., played in choosing the assets underlying a CDO, before betting against it.

Sen. John McCain, R-Ariz., will offer an amendment to the financial services regulatory reform bill that weans Fannie Mae and Freddie Mac off government support over a five-year period.