Securitization

Barclays Capital launched new Pan European ABS Benchmark Bond Indices measuring both fixed and floating ABS.

CIFG Holding named David A. Buzen as the insurance firm's president aside from his current position as chief operating and chief financial officer. Buzen will continue to report to Chief Executive Officer Lawrence P. English.

Ambac Assurance Corp. (AAC) is handing over its subprime mortgage-related contracts to its state a regulator.

LyondellBasell, a global petrochemical and fuel company, priced $2.7 billion of senior secured notes due 2017 in a private placement under Rule 144A and Regulation S.

World Financial Network is in the market with a $100.8 million credit card-backed transaction. The lead manager on the five-tranche offering is Barclays Capital.

Sidley Austin hired Antony Bryceson as counsel in the investment funds, advisers and derivatives practice in its London office.

The Federal Deposit Insurance Corp. (FDIC) has priced an over $653 million offering under its Structured Sale Guaranteed Notes 2010-L2. The sole bookrunner on the deal is Barclays Capital

Fannie Mae and Freddie Mac completed more than 73,300 permanent mortgage loan modifications through January under the Home Affordable Modification Program (HAMP).

Fannie Mae and Freddie Mac will not be buyers — or active sellers — of MBS while they remain in conservatorship, Treasury Secretary Timothy Geithner declared Tuesday.

Though Treasury Secretary Tim Geithner said Tuesday that reforming the GSEs should not take years to accomplish, a House Financial Services Committee hearing made it clear the issue is unlikely to be addressed anytime soon.

Bank of America will look initially at principal forgiveness — ahead of an interest rate reduction — when modifying certain subprime, pay-option and prime two-year hybrid mortgages qualifying for its National Homeownership Retention Program (NHRP).

The Mortgage Bankers Association (MBA) proposed a new line of MBS that would be structured with a federally-guaranteed wrap, which would be backed by loan-level guarantees from privately-owned, government-chartered and regulated mortgage credit-guarantor entities.

Mortgage application activity fell 4.2% in the week ending March 19 due to a decline in refinancing activity as mortgage rates backed up.

MF Global Holdings appointed Jon S. Corzine as chairman and chief executive officer effective immediately.

Ramco-Gershenson Properties Trust closed on a new $31.3 million CMBS loan with JPMorgan secured by its West Oaks II shopping center in Novi, Michigan and its Spring Meadows Place center in Holland, Ohio.

Deerfield Capital agreed to buy $1.8 billion in CLO contracts in a deal to acquire an investment manager specializing in leveraged loan credit products, the Chicago-based asset manager announced today.

Charles Schwab filed arguments in a federal court in San Francisco on March 19 to try to preclude the Securities and Exchange Commission (SEC) from suing it over its YieldPlus fund, which had nearly 50% of its assets in MBS, Bloomberg reports.

Bank of America Merrill Lynch has hired Steve Harris for its mortgage department as managing director in the Americas origination sales. The new hire will be reporting into Michael Hokin, who is head of Americas mortgages and securitized product sales at the bank.

Loan modifications have had little impact on the U.K. mortgage market despite the backing mods have received from the government, according to a Fitch Ratings study.

The Board of Governors of the Commercial Mortgage Securities Association (CMSA) has transformed the association into a new organization that will serve all constituencies within commercial real estate finance. CMSA is now the CRE Finance Council.