Securitization

Moody's Investors Service has introduced additional information to its ABS and RMBS performance overviews in the Europe, Middle East & Africa (EMEA) region.

The level of arrears in U.K. nonconforming RMBS transactions has stabilized, Fitch Ratings said.

Tullett Prebon, an interdealer broker, and Calypso Technology, a global application software provider to the capital markets industry, will be launching the TP Correlation Service.

Guggenheim Capital Markets, a division of Guggenheim Partners, added three senior professionals to the fixed income rates trading group.

Telemetry Investments, a New York-based hedge fund that has been investing in non-performing residential loans, is reportedly leaving the space.

The Collingwood Group — recently launched by former Ginnie Mae president Joe Murin — is expanding into asset management and has hired industry veteran Jim Russell to head the new group.

Approximately $6 billion in consumer-loan-backed ABS participate in the Term ABS Loan Facility's (TALF) November subscription date.

Moody's Investors Service said today that it the ratings currently assigned to notes issued by Cherry Creek CDO II, will not, at this time, be reduced or withdrawn just because of the appointment of Princeton Advisory Group as the replacement collateral manager.

NewOak Capital appointed Jay Lown as managing director and senior member of the financial institutions group.

Despite changes by the Financial Accounting Standards Board (FASB) in March that were expected to stem fallout caused by other-than-temporary impairment (OTTI) charges at the Federal Home Loan banks, the system is continuing to suffer massive losses on its portfolio holdings.

Equifax has acquired Rapid Reporting Verification Co. (RRVC), a privately held fraud detection firm, for $72.5 million in cash.

Broker dealer BTIG expanded its emerging markets fixed income platform by hiring Alfredo Chang and Patrick O’Sullivan. The new hires bring more than 15 years of experience to the firm.

Moody's Investors Service has completed reviewing its ratings on U.S. CLOs, downgrading almost 65% of the CLOs reviewed.

CarMax Business Services priced a $591 million auto ABS while Entergy Texas priced its $545.9 million securitization.

Employment and business woes in Europe, the Middle East and Africa are continuing to erode the performance of CMBS and multifamily transactions in the region even though property values appear to have bottomed out and shown slight improvement, according to a report from Moody's Investors Service's London office.

Federal regulators have issued guidance that encourages banks to refinance or restructure commercial real estate loans despite declines in property values and rents.

Trepp announced multiple enhancements to Trepp CMBS Analytics™ and TreppLoan™ available at trepp.com.

CIT Group on Sunday filed for Chapter 11 bankruptcy protection in New York’s Southern District Bankruptcy Court, and on Monday it asked the judge overseeing the case, Allan Gropper, for approval to receive a special loan facility to be used during the court-supervised workout.

Bemo Securitization SAL (BSEC) said its closed Rymco Drive 1, Rasamny Younis Motor Co.’s (RYMCO) first revolving auto ABS, and the first term securitization established under Lebanese asset securitization law 705/2005.

The Securities Industry and Financial Markets Association (SIFMA) hired two additions to its government affairs team. The new hires are Ellen McCarthy and John Hallmark.