Securitization

World Omni Financial Corp. is in the market with an automobile-backed ABS. The $917 million transaction is led by Barclays Capital and Deutsche Bank Securities.

The politically powerful National Association of Home Builders (NAHB) has started the ball rolling on a new policy position regarding the future role and structure of the government sponsored housing enterprises.

CIT Group, which went through a prepackaged bankruptcy last year, will appoint a new chief executive this week, when the company’s board of directors meets, according to a company spokesman.

IFMR Capital recently concluded a multi-originator securitization of micro-loans originated by four Indian microfinance institutions.

Merrill Lynch Financial Assets announced the occurrence of a monetary event of default (EOD) on a subordinate B loan.

With more than a million homes headed for foreclosure, and hundreds of thousands more in the process or repossessed, how long can lenders put off dumping these properties?

Major credit card issuers' delinquency rates declined in December, supporting the growing belief that loan losses are near their peak.

BlackRock acquired substantially all the assets of Helix Financial Group. Helix Financial, which is based in Charlotte, North Carolina, provides advisory, valuation and analytics solutions to commercial real estate lenders and investors.

Citigroup marked up the asset value of its residential mortgage servicing rights by 15% in the fourth quarter to $6.5 billion, even though the dollar volume of its portfolio of housing receivables is declining.

Managing Director and former Head of MBS/Real Estate ABS Strategy Rahul Parulekar is leaving Citigroup Global Markets in the next few days. Prior to Citi, Parulekar was at Bear Stearns.

Nearly 9% of all Federal Housing Administration (FHA)-insured single-family loans are 90-days or more past due, according to the agency's latest monthly activity report.

Moody's Investors Service analysis shows that only 400,000 to one million loans will be saved from foreclosure by Home Affordable Modification Plan (HAMP), which the rating agency called a linchpin in the Obama administration's plan to stabilize the housing market.

U.S. Securities and Exchange Commission Chairman Mary Schapiro testified before the financial crisis inquiry commission yesterday and advocated for the tightening of securitization requirements.

DBRS hired Rosemary Kelley for the structured finance group as a senior vice president effective Jan. 4. Kelley was hired as a lead analyst in the ABS group.

After parting ways with the after the American Securitization Forum (ASF), the Securities Industry and Financial Markets Association (SIFMA) said it plans to start its own unit to work on improving asset securitizations.

PennyMac Mortgage Investment Trust, Calabasas, said it has bought a $40 million portfolio of problem loans.

Even though JPMorgan Chase reported strong earnings for the fourth quarter, the hangover from the mortgage crisis and the resulting loan 'buy backs' forced on the company by Fannie Mae and Freddie Mac are continuing to hurt its bottom line.

Foreclosure filings jumped 14% in December from November, after four straight months of declines, according to data to be released today by RealtyTrac.

Sales of lower priced homes are doing much better than expensive ones in all parts of the nation, thanks, in part, to the first-time homebuyer tax credit, according to the Federal Reserve's latest Beige Book report.

Ginnie Mae issuance of single-family and multifamily MBS hit a record $414 billion in 2009, up 53% from the previous calendar year.