Securitization

Ford Motor Credit Co. is in the market with a $1 billion auto loan-backed ABS. It is eligible under the Term ABS Loan Facility (TALF).

Despite signs that "activity in the housing sector has increased," the Federal Reserve Board's policymaking committee said Wednesday that it would continue to purchase debt and MBS from Fannie Mae and Freddie Mac into next year.

Freddie Mac has named veteran banker Ross J. Kari as its permanent chief financial officer, making him the latest member to join the GSE's new senior executive leadership team under recently appointed CEO Charles E. Haldeman. His appointment is effective Oct. 12.

Reverse mortgage lenders are learning that the Federal Housing Administration (FHA) is moving quickly to implement a reduction in the loan proceeds that seniors can receive from a FHA-insured Home Equity Conversion Mortgage (HECM).

Information services provider Experian announced the availability of CreditHorizons for Whole Loan Portfolios, which is a new way for clients to analyze and value their whole loan portfolios.

Dave Richards and Jon Greenbaum have joined the New York-based offices of GoldenTree Asset Management as research analysts, the firm announced this week.

A top member of the Senate Banking Committee unveiled a bill Tuesday to regulate derivatives.

The National Association of Insurance Commissioners (NAIC) has voted to include Realpoint as an acceptable rating organization, which means that U.S. insurance companies can now rely on its CMBS ratings to calculate their capital strength and required reserves.

Fitch Solutions and Algorithmics Advisory Service launched a commercial real estate risk analysis and portfolio assessment service.

Mortgage application activity jumped nearly 13% in response to a decline in mortgage rates to below 5%.

Valuation and advisory company Vertical Capital Solutions (VCAP Solutions) hired Jason Howell as partner.

Final bids are due later this week on a $1 billion portfolio of mortgage servicing rights that once belonged to Franklin Bank of Houston, Texas.

The chairman of a key subcommittee is predicting that the House of Representatives will pass a regulatory reform bill this year, including new standards for securitizing mortgages and other assets.

Infusion Technologies, parent firm of National Quick Sale and REO Sentinel, hired Jim Satterwhite, a participant in the mortgage servicing industry, as executive vice president and chief operating officer.

Asset management firm Schroders expanded its fixed income group by adding Dina Welch as a senior client portfolio manager, the firm announced today.

Market reports indicate that Avis Budget Group is offering to sell $300 million of U.S. ABS backed by auto rentals to investors.

Oak Hill Advisors hired Alexandra Jung as co-head of the firm’s European business.

Alba 2006-2 and 2007-1 informed the trustee that there could be an event of default on the transactions via an Irish Stock Exchange announcement. As a result, Fitch Ratings placed all 17 tranches from both deals on rating watch negative.

Lloyds Banking Group released initial details of its RMBS offering from it Permanent master trust. The deal signals a possible reopening of the European RMBS market.

Wyndham Resort Development Corp. is in the market with a $175 million timeshare receivable transaction called Sierra Receivables Funding Co 2009-3.