Securitization

CIT Group’s head of leveraged loan sales has left the firm to join Golub Capital Partners as a managing director in its capital markets division.

U.S. prime RMBS late-pays have now eclipsed 10% at the same time subprime delinquencies fell for the first time in nearly four years, according to Fitch Ratings.

FNMA 30-year fixed rate prepayments were in line with expectations for March, increasing over 60% as Fannie Mae began buying out 120 day or more delinquent loans, starting with higher coupons. Speeds on FNCL 6.5s and 7s surged over 200% compared with around a 30% increase for lower coupons.

Belstar Group, a private investment firm specializing in alternative investment strategies, closed Belstar Credit Fund and Belstar SJ Credit Fund. The combined Funds closed with over $280 million.

The Treasury Department could move faster in modifying second liens, a mortgage securities analyst says, by requiring servicers to conduct their own internal matching of first and second liens.

Near prime borrowers in the U.K. mortgage market may begin seeing some refinance opportunities increase as Kensington Mortgages starts considering borrowers with county court judgments (CCJs).

Barclays Capital gave some insight into just how much the European investor base has shrunk.

The European Central Bank and the 16 national central banks in the euro zone increased their purchases of covered bonds bringing the total volume settled to €44.427 billion ($59.3 billion), according to ECB-released data.

DoubleLine Funds Trust will launch two open-end mutual funds today called the DoubleLine Total Return Bond Fund (I shares DBLTX; N shares DLTNX) and the DoubleLine Emerging Markets Fixed Income Fund (I shares DBLEX; N shares DLENX).

Auto specialty finance firm Consumer Portfolio Services (CPS) is using a unique funding structure that is a hybrid of a warehouse facility and a term transaction.

1st Financial Bank is in the market with two credit card deals called 1st Financial Credit Card Master Note Trust II 2010-A and 2010-B.

Moody's Investors Service downgraded the ratings of 49 tranches and confirmed the ratings of four tranches from 15 RMBS deals that are backed by prime jumbo loans that were issued by Wells Fargo MBS from 2005 to 2008.

The Securities and Exchange Commission (SEC) will be holding an open meeting on April 7 to discuss whether to propose revisions to Regulation AB and other rules regarding the offering process, disclosure, and reporting for ABS, the government agency announced on its Web site.

RoundPoint Mortgage Servicing Corp. has won a 50% equity stake in a $480 million pool of single-family loans from several hard hit states that it will manage for the Federal Deposit Insurance Corp. (FDIC).

The biggest Ginnie Mae MBS issuers cleaned house in the fourth quarter by buying a boatload of delinquent loans out of Ginnie pools, but its new president says that will not be repeated in upcoming quarters.

Pending home sales rose 8.2% to a reading of 97.6 in February, far exceeding economists’ estimates and a positive sign for the housing market heading into the spring season, the National Association of Realtors (NAR) reported today.

Ace Securities Corp. filed a Form S-3 with the Securities and Exchange Commission to issue mortgage-related offerings.

As the distressed-asset market begins to stabilize, the Federal Deposit Insurance Corp. (FDIC) is shaking up the way it handles failed banks and their assets.

Manager Activity: Autos Book Runner Amount (US$ Mil) Rank Mkt.

Freddie Mac issued $29.5 billion in MBS in February, down 18.5% from the previous month and 27% from a year ago.