Securitization

For the week ending Oct. 1, 30-year fixed mortgages averaged 4.94% with an average 0.7 point, down 10 basis points from last week, according to Freddie Mac.

Loan modifications and payment restructurings by the nation's residential servicers rose 75% in the second quarter to 439,574 units, with a noticeable increase in principal reductions, according to new figures released by the Office of the Comptroller of the Currency (OCC).

The 2008 Home Mortgage Disclosure Act (HMDA) data show that Federal Housing Administration (FHA) lending surged in the second half of 2008 and by December FHA had a 38% share of the home purchase market and 25% share of the refinancing market.

John Deere is in the market with an $775.5 million equipment lease ABS called John Deere Owner Trust 2009-B.

A nonperforming second-lien portfolio with a face value of $365 million is about to change hands, according to an investment banker close to the transaction.

The Commercial Mortgage Securities Association (CMSA) said today that it strongly supports efforts to strengthen the credit ratings system but it opposes reforms – such as differentiation – that lack substance and undermine commercial real estate capital market recovery.

NewOak Capital appointed Amy Levenson as managing director and chairman of its newly formed commercial real estate loans and properties capital markets group responsible for creating and executing real estate capital market solutions for clients.

Denver-based Allonhill was approved by Standard & Poor’s to perform third-party reviews on RMBS.

Citigroup has snagged Barclays' head of U.S. leveraged loan syndications to head up its leveraged syndicate group for the Americas.

Japanese bank Nomura has reportedly appointed a former Lehman Brothers banker as its cohead of fixed income for the Americas. The bank has been increasing its U.S. staff and plans to continue expanding within fixed income.

Past and present Employees of Moody’s Investors Service take the stand today as the Committee on Oversight and Government Reform continues its investigation of credit rating agencies.

UBS said on Tuesday it hired Michael Ostow from Morgan Stanley as a managing director and head of North American insurance coverage.

Special-purpose entities are not inherently dangerous, according to a report released Tuesday.

The most recent data from HOPE NOW showed foreclosure starts dropped 21% to 224,000

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.