Securitization

Standard & Poor’s late Wednesday raised the counterparty credit rating of Ambac Assurance Corp. to 'CC' from 'SD', selective default. The agency also affirmed Ambac’s financial strength rating of 'CC' and changed its outlook on the guarantor to developing from negative.

Assured Guaranty, the holding company of the two principal players in the bond insurance industry, is expected to raise at least $499 million of capital today when its offering of 23.9 million common shares closes with underwriter UBS Securities.

A steep yield curve could selectively keep earnings/dividends for agency mortgage real estate investment trusts above normal levels even though a rally in the sector is running out of steam, according to a report Wednesday by Sandler O'Neill & Partners, which is initiating coverage on the sector.

The November Mortgage Monitor report by Lender Processing Services (LPS) in Jacksonville, Fla. reveals a nationwide loan deterioration ratio higher than 3:1, indicating that for every one loan which improved, three more loans are deteriorating.

The list of eligible Term Asset-Backed Securities Loan Facility (TALF) deals continued to grow, although December issuance has tapered off with the year-end approaching, market sources said.

MF Global was approved by the Federal Home Loan Bank System (FHLBank) as an underwriter and a reallowance dealer.

Realpoint was selected to rate the new issue CMBS offering by Inland Western Real Estate Trust. The transaction, the first new-issue CMBS to be rated by Realpoint, is being underwritten by JPMorgan Securities.

Just after the first new-issue CMBS launched late last month, talk of a new deal about to come to market has sparked hope that things may be improving in the CMBS space.

The 30- and 15-year and one-year ARMs rates all moved to new record lows in the week ending Dec. 3, according to Freddie Mac's weekly survey.

Moody’s Investors Service is putting its concerns of operational risks into practice as it reviews for possible downgrade notes issued by Four Seas, a Belgian diamond inventory securitization.

The Federal Housing Administration (FHA) wants to stay away from traditional risk-based pricing for mortgage insurance premiums, saying it doesn't want the government to compete against private sector MI firms.

A suit that left CMBS affiliated with the bankrupt General Growth Properties exposed to potential losses and highlighted the limits of securitizations' "bankruptcy remote" nature is close to finalizing a settlement that would alleviate the loss concern, according to Fitch Ratings.

Global Hunter Securities added a new managing director and opened an office in Los Angeles, the banking and securities services firm said Tuesday.

Global advisory firm Hodes Weill & Associates hired Ray Potter as a principal to focus on the firm’s property underwriting, due diligence and principal investment activities.

The House Financial Services Committee approved 31 to 27 on Wednesday a bill that would give the Federal Reserve Board the power to oversee systemically important firms, and allow the Federal Deposit Insurance Corp. (FDIC) the ability to resolve them if they fail.

The Federal Housing Administration (FHA) is going on the record, asking for an increase in mortgage insurance premiums to replenish its diminishing capital reserves while hiking FICO scores for applicants.

Darrell Wheeler will direct Amherst Securities Group's efforts to break into the CMBS sector, and has been named senior managing director and head of CMBS strategy at the firm.

DBRS assigned triple-A ratings GMAC U.K.’s first public securitization of whole sale receivables called Wholesale Auto Receivables Funding (WARF).

Investment research provider Morningstar started publishing credit ratings for about 100 of the largest U.S. companies.

The Treasury Department yesterday gave guidance to servicers on the Home Affordable Foreclosure Alternatives Program (HAFA).