Securitization

The Federal Reserve's purchases of MBS are affecting the supply-demand balance of MBS collateral in the repurchase markets, according to a Barclays Capital report.

Performance deterioration seen in CMBS and multifamily transactions in Europe, the Middle East and Africa during the first quarter is expected to continue, Moody's Investors Service said in a report Wednesday, citing upcoming refinancing risks.

Jefferies & Co. Wednesday became the first firm in more than three years designated as one of the Federal Reserve Bank of New York's primary dealers.

The American Securitization Forum (ASF) is set to move out of its midtown Manhattan headquarters to the Financial District, as announced in an ASF update meeting today.

Mortgage application activity declined in the week ending June 12 as mortgage rates surged.

The European Central Counterparty (EuroCCP) called today for the adoption of a single standard convention on interoperability that all central counterparties (CCPs) would sign so that European market participants could seamlessly choose where their trades will be cleared and settled.

Financial advisory firm Capital Market Risk Advisors (CMRA) hired Peter Niculescu as partner and head of fixed income.

The Bank of England (BoE) is considering establishing a Secured Commercial Paper Facility (SCP) to buy appropriate ABCP as well as creating a specific Supply Chain Finance Facility.

The Department of the Treasury’s announcement on the new securitization regulation shouldn’t come as a surprise. Although most ABS players believe the market will return to some level of normalcy, it's widely understood that the game would be played according to new standards.

Sallie Mae announced a new repayment plan today that aims to help eligible federal student loan customers to substantially lower their monthly payments, according to a release from the student lender.

Departing from its usual spot in Las Vegas, the American Securitization Forum will be holding its annual 2010 conference in Washington, D.C.

Assured Guaranty yesterday announced the launch of a combined $550 million offering of common shares and equity units and said it will increase the amount of cash and decrease the amount of stock it pays Dexia SA for its acquisition of Financial Security Assurance Holdings.

Guggenheim Capital Markets Tuesday said it was launching a new financial institutions group, to be led by a pair of former Bear Stearns executives.

The financial markets regulatory reform plan that the Obama administration is to propose Wednesday does not include changes to the structure or jurisdiction of the Securities and Exchange Commission, or to self-regulatory organizations that operate under it such as the Municipal Securities Rulemaking Board, a senior administration official said in a background briefing with reporters Tuesday night.

Are reverse mortgages going into, well, reverse?

The newest client for PHH Mortgage's private label outsourced origination platform is Amalgamated Bank, New York.

Even though residential loan production fell just 12% in the first quarter compared to the same period a year ago, the origination of Alt-A loans and interest-only loans plummeted, according to survey figures compiled by National Mortgage News (NMN).

Construction of new single-family homes rose to a seasonally adjusted rate of 401,000 units in May, the best reading in six months and a sign that the home building sector may have hit bottom this spring and is now showing tentative signs of a recovery.

Starwood Capital Group plans to launch a new REIT program to purchase distressed loans, according to the S-11 filing on June 4. Starwood Property Trust (SPT) will draw upon the experience of Starwood Capital’s investment professionals, as well as utilizing its own management group.

A new £420 million CMBS deal is being marketed at the moment, according to Barclays Capital. This deal ends a two-year lull in the Euro CMBS primary pipeline.