Securitization

A Federal Reserve Board proposal released Tuesday would clamp down on practices in the credit card industry by reining in fees, limiting card use by young borrowers and restricting rate increases.

Global advisoy firm Hodes Weill & Associates hired Robert Levinson as principal, chief financial officer and chief administrative officer.

Distressed mortgage investor Kondaur Capital, Santa Ana, Calif., is open to the idea of buying a bank, according to a company spokesman.

CitiMortgage, in yet another reorganization move, has terminated its residential production chief, Brad Bunts, a 13-year veteran of the company.

BMW Financial Services is in the market with a Term ABS Loan Facility or TALF-eligible dealer floorplan offering, which is lead managed by RBS Securities.

A number of market notices have been released in Europe highlighting the risks of non-call for entities that have received government funding, according to market reports.

Bank of America has hired a former Credit Suisse banker as co-head of distressed sales and trading for Europe, the Middle East and Africa.

U.S. home prices may still be off from year-ago levels, but they climbed in July for a third consecutive month, evidence that a key segment of the U.S. economy may be on the mend.

Harley Davidson is in the market with a $700 million motorcylce-backed offering that is Term ABS Loan Facility or TALF-eligible.

Moody’s Investors Service booted a major future flow deal out of the investment-grade club today, downgrading three kinds of Class A notes of Petroleum Export Limited to ‘Ba1.’

U.K. banks plan to renegotiate terms with their borrowers rather than calling in loans that are in default.

Standard & Poor’s Monday dropped MBIA Insurance Corp. to junk status, lowering the insurer’s credit rating to 'BB+' from 'BBB'. The outlook is negative.

CMBS investors received $1.35 billion in loans from the Federal Reserve via the Term Asset-Backed Securities Loan Facility (TALF), according to reports released Monday.

Fitch Ratings hired Charles Gamm as a senior director to head the rating agency’s Canada office.

As 'negative equity' increases home owners are increasingly likely to default on their mortgages — even if they can afford to pay them, according to a recent academic study.

Efforts by Financial Services Committee chairman Barney Frank, D-Mass., to get community bankers behind his Consumer Financial Protection Agency (CFPA) bill might require giving banking regulators more say over consumer regulations.

The Federal Reserve accepted all 59 bonds, totaling $1.4 billion, presented in September’s Legacy CMBS TALF subscription. However, JPMorgan Securities analysts said that this still doesn’t explain the Fed’s methodology on how it accepts or rejects bonds for the program.

Climbing unemployment in Spain has had a negative impact on the collateral performance of consumer loan ABS, said Moody's Investors Service in its Annual European Consumer Loan ABS Sector Review.

Effective Oct. 1, the proceeds on Federal Housing Administration (FHA)-insured reverse mortgages will be reduced by 10% — a swift policy change that has spurred lenders to beat the deadline so their clients can borrow more.

The ABX September remittance data did not exhibit anything dramatically different