Securitization

Mortgage fraud-related Suspicious Activity Reports referred to law enforcement increased 36% to 63,713 during 2008, compared to 46,717 reports in 2007, according to the Federal Bureau of Investigation's 2008 Mortgage Fraud Report.

CB Richard Ellis Investors has hired Audrey Greenberg as the chief financial officer for the Strategic Partners U.S. fund series. She will oversee investor relations, accounting and reporting, treasury operations and enterprise reporting, as well as involvement in fund financing activities.

State Street Bank and Trust, the trustee of Cheyne CLO Investments, said it suspended the use of the loan fund’s collateral account to meet a shortfall in payments due to noteholders.

The Federal Reserve Bank of New York named RBC Capital Markets the second new primary dealer in 2009, as reported in an RBC release. The designation will be effective today.

Mortgage application activity increased last week with both refinancing and purchase activity moving higher.

After peaking at $11.5 billion last month, requests for loans through the Term Asset-Backed Securities Loan Facility (TALF) dropped to $5.4 billion, the Federal Reserve Bank of New York said Tuesday.

The merger of two government-sponsored enterprise regulators to form the Federal Housing Finance Agency — a year ago this month — offers a cautionary tale as policymakers consider combining banking agencies and creating a new consumer protection supervisor.

CarMax priced a $489 million Term ABS Loan Facility (TALF)-eligible auto deal. JPMorgan Securities is lead manager on the offering.

The U.S. Office of Thrift Supervision ordered First Marblehead Corp. on July 2 to reduce its concentration of private student loans, according to published reports.

Lewtan Technologies announced today that 1010data, a provider of the analytics platform delivered online for MBS and ABS, will offer ABSNet Loan data to their customers.

Deloitte & Touche has released an enhanced version of its CDO Suite product.

Wells Fargo & Co. announced that its investment banking and capital markets businesses formerly operating under the Wachovia Securities and certain Wells Fargo brands will now operate under the Wells Fargo Securities brand.

Moody’s Investors Service published a report today called V Scores and Parameter Sensitivities in the Global Cash Flow CLO Sector.

Refinancings of existing mortgages accounted for 77% of all loans funded in the first quarter, the highest reading since National Mortgage News began tracking such figures in the late 1990s.

The 30-day delinquency rate on "open-end" home equity lines of credit jumped 43 basis points in the first quarter to a record high of 1.89% on a seasonally adjusted basis, according to an American Bankers Association survey.

Markit has hired Adam Kansler as a member of its executive team. The new hire will play multiple roles as an executive vice president, global head of corporate, government and legal affairs, and the company’s general counsel.

Cairn Capital appointed Folkert Jan van der Veer as senior credit analyst. As part of Cairn’s credit research team, Jan van der Veer will focus on financial institutions and report to Renée Toft.

Fitch Ratings calculated that the Structured Investment Vehicle (SIV) market has disposed of 95% of the $400 billion of its assets since July 2007, a release from the rating agency said.

Freddie Mac and Ginnie Mae released their June prepayments yesterday evening, while Fannie Mae is scheduled to report tonight.

Moody’s Investors Services downgraded the subordinate class C and D notes from Capital One Multi-asset Execution Trust (COMET) to ‘Ba1’ from ‘Baa2’ and to ‘B1’ from ‘Ba2’, respectively, citing an increase in the trust charge-off rate and a decrease in the principal payment rate over the past year.