Securitization

Barclays Capital analysts said that even in a severe stress scenario, U.K. nonconforming RMBS should not suffer losses nearly as severe as investors feared.

In May, mortgage lenders helped 249,000 homeowners complete workout solutions to help these borrowers stay in their homes, according to HOPE NOW.

A regulatory report on the pace of mortgage modifications was a decidedly mixed bag, showing that although servicers have increased the number of sustainable modifications, serious delinquencies among prime borrowers continue to rise.

Growing weakness in commercial real estate is poised to transform banking companies into accidental landlords — with a new set of headaches.

Federal regulators proposed new guidance Tuesday that would call on financial institutions to more closely monitor their liquidity risk.

Lender Processing Services has formed the LPS Real Estate Group, it announced in a press release today.

Pali Capital hired Matt Goldfarb, Peter Levine and William Tillinghast as part of an expansion of its new high yield sales and trading team.

Thierry Simon has been appointed CEO of Calyon in the Americas.

Wells Fargo & Co. has apparently found a buyer for a $600 million portfolio of non-performing subprime loans, according to investment banking officials.

House prices fell by only 0.6% from March to April, according to the Standard & Poor's/Case-Shiller 20-city house price index, signaling that home values may be stabilizing.

Discover Bank is in the market with a $1 billion Term ABS Loan Facility (TALF)-eligible credit card deal. Barclays Capital and Deutsche Bank Securities are leading the transaction.

Ford Credit Canada completed securitizing nearly $600 million of auto loans in the company’s first public retail securitization, the firm announced today.

Cantor Fitzgerald has expanded its leveraged finance group in London and could have as many as 10 leveraged finance professionals there by the end of the year, according to Martin Teevan, Cantor's senior managing director of high yield and distressed trading.

Fitch Ratings has hired Melissa Tessier as a senior director for structured credit business development. The firm also promoted Jeremy Carter to head of European and Asian structured credit.

Direct Capital has formed a new division focused on providing financing programs for vendors in the printing equipment industry.

Opus Capital Markets Consultants (Opus CMC) and Mortgage Data Management Company (MDMC) announced the acquisition of the due diligence division of MDMC by Opus CMC today, according to an Opus CMC release.

Fitch Ratings said that the servicing strategies of U.K. nonconforming lenders have developed rapidly since the onset of the recession, adding that these practices continue to evolve to reflect the changing economic environment.

Last Friday, Standard & Poor’s released its final report containing tweaked methodology for rating U.S. conduit or conduit/fusion CMBS transactions from that originally proposed.

Bank of America is coming to market with a $2.5 billion auto deal managed by Banc of America Securities.

There is a disconnect between how the market prices residential mortgage-backed securities and their intrinsic value, according to a recent study by Fitch Solutions to gauge the factors driving the valuations of RMBS tranches.