Securitization

Fitch Ratings plans to add the symbol 'sf' to its structured finance ratings globally.

Karen Weaver, former global head of securitization research at Deutsche Bank Securities, officially retired last week after two years of doing part time work with the bank.

American Honda Finance Corp. is in the market with an over $1 billion auto ABS. The non-Term ABS Loan Facility-eligible deal is lead managed by Deutsche Bank Securities and RBS Securities.

There is talk in the market that an El Salvadoran credit union is working on a small cross-border deal backed by remittances.

Improvements in European CRE market sentiment in the 2H09 has been dramatic but can’t be sustained given the dynamic unfolding in the CMBS market, Henderson Global Investors analysts said.

The Federal Reserve Bank of New York (FRBNY) announced yesterday that for February 2010 $1.255 billion was requested in loans to buy legacy CMBS under the Term Asset Backed Loan Facility or TALF.

Trade receivables have re-emerged as a favored asset class among European securitization market players and are likely to remain in demand as the global securitization market recovers, a report from the law firm Dechert said.

As the Federal Reserve ends its purchases of MBS, Fannie Mae and Freddie Mac could become buyers if private investors don't return to the market, a Freddie executive said.

Fannie Mae and Freddie Mac, once fierce rivals for mortgage lenders' business, have been forced into a kinship of sorts under federal conservatorship.

American Banker in its Pipeline reported that two mortgage insurers have recently been given the OK to keep writing new business even if their risk-to-capital ratios exceed the 25-to-1 maximum permitted in 16 states.

Mortgage servicers completed nearly 50,000 permanent HAMP modifications in January, up from 35,000 in the previous month, as the government's Home Affordable Modification Program (HAMP) is to be finally gaining traction.

Though regulatory reform has stolen center stage on Capitol Hill, the Obama administration remains intent on wiping out the Federal Family Education Loan Program (FFELP), and its demise appears to be just a matter of time.

Mortgage rates declined further this week with the 30-year fixed mortgage rate back to its lowest level since mid-December.

The Federal Deposit Insurance Corp. (FDIC) suffered a rare court defeat Tuesday, as a federal judge sided with a bank that had challenged an enforcement order.

The amount of outstanding credit card-backed bonds has been falling since 2008 as maturing securities have exceeded new issuance, a trend that Wall Street has forecast will accelerate sharply this year.

Minnesota-based Advantus Capital Management has made some significant structural and consolidation changes to its portfolio management and research roster.

Scott Colbourne was named senior portfolio manager of Sprott Asset Management, a subsidiary of Sprott.

A Standard & Poor’s survey found that investors expect improvement in European RMBS collateral performance but marked deterioration in U.S. RMBS collateral performance.

USAA Federal Savings Bank is in the market with a $1 billion auto-loan backed deal. The offering is led by JPMogan Securities and Wells Fargo Securities.

Tony Renzi, a 24-year veteran of GMAC Mortgage and its affiliates, has been forced out of his position as chief operating officer and president, according to company employees who work under him.