Securitization

The House Committee on Education and Labor voted 30 to 17 Tuesday for a bill that would effectively end for-profit student lenders' participation in federally subsidized and guaranteed student loans.

The Obama administration has sent a legislative package to Capitol Hill that strengthens supervision of credit rating agencies and improves disclosures about the risks of structured mortgage-backed securities.

Allonhill is having a job fair at their brand new headquarters in Denver, Colorado this Friday, July 24 and Saturday, July 25, according to the risk management firm.

Moelis and Co. hired Yadin Rozov as the managing director in the risk advisory group. He will be based in New York.

Jefferies & Co. hired Mark Plansky as a managing director and head of its MBS/ABS/CMBS group in Boston.

Mortgage bankers are experiencing a dramatic increase in new servicing hires and loss mitigation staff in order to handle the tidal wave of delinquencies sweeping the nation.

The Federal Deposit Insurance Corp.'s experiment in modifying loans at IndyMac Bank is still showing good results in terms of keeping borrowers in their homes with a low redefault rate of less than 16%.

Freddie Mac has named Charles "Ed" Haldeman Jr., a former mutual fund executive, its new chief executive office, effective this August.

After announcing it had downgraded approximately 500 tranches of 93 U.S and European CLOs, Moody’s Investors Service said Monday that the majority of top-rated CLO tranches are in danger of losing their triple-A rating.

Aladdin Capital has expanded its debt sales and trading team with the addition of Mark Atmore, formerly of Nomura and Bear Stearns, and said it plans to add five more in the coming months.

According to market reports Land Securities plans to issue a £360 million ($591 million) securitization of an office let to the Home Office in Westminster.

Cantor Fitzgerald hired Noel Kimmel as a new senior managing director, spearheading the firm’s new prime brokerage business.

CIT Group has entered into a $3 billion loan facility provided by a group of the company’s major bondholders, CIT said yesterday in a release.

Federal Housing Administration endorsements are up 83% compared to a year ago, as the federal mortgage insurance program ends its third quarter of the 2009 fiscal year.

The Federal Deposit Insurance Corporation's experiment in modifying loans at IndyMac Bank is still showing good results in terms of keeping borrowers in their homes with a low re-default rate of less than 16%.

PRMIA and Capital Market Risk Advisors (CMRA) released preliminary results to its Risk Governance Survey.

The Equipment Leasing and Finance Association (ELFA) released a statement addressing proposed revisions to lease accounting standards put forth by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB).

Exact Mortgage Experts launched its Intelligent Mortgage Servicing Platform today. The new offering will allow Exact clients to access up-to-date management information on the performance of their portfolio at anytime.

Investors can find confidence in the recent phenomenon of card issuers rescuing their credit card deals, according to William Black, senior vice president of Moody’s Investor Services.

The latest gross mortgage lending estimates for the United Kingdom show that, despite a seasonal boost in the latest month, several underlying weaknesses persist.