Securitization

Department of Housing and Urban Development (HUD) Secretary Shaun Donovan said that there is a “significant chance” the U.S. housing recovery will not continue.

Digital Risk promoted Alex Santos to president. As the firm's chief operating officer previously, Santos had overall management responsibility, including strategy development, client service, analytics and operations.

The Department of Housing and Urban Development (HUD) this morning said it expects the Federal Housing Administration's (FHA)reserve fund to stay in the black during the housing downturn unless housing falls into what it called a "deeper recession."

Moody’s Investors Service late Wednesday downgraded to 'Ca' from 'Caa2' the insurance financial strength ratings of CIFG Guaranty, CIFG Europe and CIFG Assurance North America.

Freddie Mac reported 30-year fixed mortgage rates declined seven basis points to 4.91% with an average 0.7 point for the week ending Nov. 12.

This morning the Federal Deposit Insurance Corp. (FDIC) Board unanimously approved an interim final transitional rule extending the FDIC Safe Harbor for securitizations through March 31, 2010.

The Treasury Department is relying on Fannie Mae and Freddie Mac to oversee servicers participating in the Home Affordable Modification Program (HAMP), but the two GSEs have completed a very low percentage of those modifications on their own loans.

Wilmington Trust hired corporate trust professionals Douglas Lavelle and Thomas Mackay as part of the global expansion of its capital markets services business.

Standard & Poor's continued its downgrades of certain European CMBS and today lowered 11 ratings resulting from the real estate market's credit problems.

When Senate Banking Committee Chairman Chris Dodd promised a "bold" vision of regulatory reform early this year, he clearly wasn't kidding.

Cadwalader, Wickersham & Taft hired Susan E. D. Neuberg for the finance group of the firm’s corporate department.

Ambac Financial Group, parent of bond insurer Ambac Assurance Corp., warned that its liquidity could dry up before the second quarter of 2011 and that it may have to file for bankruptcy protection, according to its third-quarter 10Q filing. The company said current liquidity is "currently insufficient to fund its needs beyond the near term."

Federal Home Loan Bank presidents sought on Tuesday to downplay a possible systemwide impact from a Federal Housing Finance Agency (FHFA) decision to bar the Seattle bank from redeeming stock.

Fitch Ratings today pulled its criteria report for rating European credit card transactions.

The Florida housing market continues to suffer from high delinquencies with 22% of all mortgages in the state reported as non-current at the end of September, according to a new report from Lender Processing Services (LPS).

Two former managers in charge of Bear Stearns hedge funds that invested in subprime bonds and derivatives were found not guilty of fraud charges Tuesday afternoon in New York.

As reported by the StructuredFinancenews.com Web site yesterday, Developers Diversified Realty Corp. is in the market with the first new-issue deal under the CMBS Term ABS Loan Facility.

In 3Q09, MBIA continued to review the mortgage loans in its insured deals. Based on this, the expected net cash flows were revised based on these additional loan reviews.

Standard & Poor’s said today that rating performance remained decidedly negative for U.S. RMBS in 3Q09, as the sector experienced an increase in performance-related downgrades and no upgrades over the period.

U.K. bank Lloyds TSB announced it will make a refinancing contribution to its ARKLE master trust.