Securitization

The U.S. Department of Veterans Affairs (VA) is reinstating its long standing Vendee Mortgage Trust program.

The Treasury Department is weighing changes to its loan modification program, including forcing lenders to delay foreclosures by at least 30 days if they have denied a borrower a mortgage modification.

Trade Settlement (TSI) launched its fully automated settlement platform for the distressed loan market.

RBS Securities expanded the responsibilities of Scott Eichel, the global co-head of its MBS and ABS businesses. Eichel's role will now include oversight of the bank's U.S. flow credit trading.

Credit card ABS trusts are well-positioned to offset any performance repercussions from changes to credit card regulations that are effective today, Fitch Ratings said.

Fitch Ratings has downgraded 393 bonds in 254 RMBS transactions it was reviewing to 'D,' indicating that the bonds have incurred principal writedowns.

After months of planning, Fannie Mae on Monday finally unveiled new details on its warehouse lending pilot, a $1 billion effort designed to provide additional funding to nonbank residential lenders.

Bank of America Merrill Lynch has hired Todd Kaplan, who was a global former head of leveraged finance at Merrill Lynch before it became part of the Charlotte, North Carolina-based bank. He was most recently the head of investment banking at Citadel Investment Group.

The Federal Home Loan banks have always had an uneasy relationship with Fannie Mae and Freddie Mac, but the fate of the GSEs are more entwined than ever as Congress considers the future of housing finance.

Today, after nine months of intense and sometimes-frantic preparation, credit card issuers must be in compliance with most provisions of a law that fundamentally changed some industry practices.

In a letter submitted to the Federal Deposit Insurance Corp. (FDIC) today, the American Securitization Forum (ASF) laid out significant concerns regarding the government agency’s proposed new rules on safe harbor for securitizations.

Information services company Markit has launched a new loan index and has acquired Storm Networks, which operates a syndicated loan operations platform for the settlement of par and distressed loan trades in the U.S.

American Honda Finance Corp. yesterday priced its auto ABS that was upsized to $1.4 from just over a billion. The non-Term ABS Loan Facility-eligible deal is lead managed by Deutsche Bank Securities and RBS Securities.

The delivery of certain coupons within the TBA MBS market were disrupted (or failed) in the wake of massive loan buyout plans unveiled by Fannie Mae and Freddie Mac last week.

The Federal Housing Administration's (FHA) nearly forgotten Hope for Homeowners program may get a jump-start now that Joel Harrison of Banker's Portfolio has lined up an investor willing to make a multibillion-dollar bet on underwater mortgages.

Standard & Poor’s will lower its credit ratings on all 'AAA' rated Greek securitization tranches to 'AA' based on its view of increased Greek country risk.

HSBC and JPMorgan launched and priced its £2.9 billion ($4.48 billion) Silk Road Finance, a U.K. RMBS backed by prime loans originated by the Co-operative Bank.

David Shulman, the former head of municipal securities at UBS, has agreed to pay $2.8 million to settle allegations he dumped his personal holdings of student loan auction-rate securities (ARS) after acquiring inside information.

More than two years after slashing the discount rate to make sure banks had access to liquidity, the Federal Reserve Board said it will begin charging more for discount window loans beginning Friday.

The delinquency rate on all residential loans fell slightly in the fourth quarter to 9.47% while "seriously delinquent" mortgages (90 days or more past due) continued to rise, according to new figures released by the Mortgage Bankers Association.