Securitization

Three Term ABS Loan Facility (TALF)-eligible ABS deals are in the works right now — two auto deals from Volkswagen and Honda Motor Co. as well as a Harley Davidson transaction backed by motorcycle loans.

GMAC revealed Thursday that it would not inherit Chrysler Financial's book of auto loans and leases. It is taking over being the lender for new financing to Chrysler dealers and consumers, according to a report from Dow Jones

Keefe, Bruyette & Woods and State Street Global Advisors have launched what they said is the first exchange traded fund to offer 100% exposure to the U.S. mortgage finance industry.

Bankers received mixed news Thursday from Capitol Hill, as the House voted 357 to 70 to approve a sweeping credit card reform bill, while the Senate rejected a measure that would have let judges modify mortgages in bankruptcy.

The increasing speed and magnitude of defaults along with rising special servicing volume is placing considerable pressure on the resources of CMBS special and master servicers, a

Fitch Ratings said today that mortgage support measures announced earlier this week by the Greek government may have a positive impact on the revival of the domestic housing market.

Yesterday Treasury Secretary Tim Geithner along with Congresswoman Carolyn Maloney (D-NY) met with consumer groups, civil rights leaders and the credit card consumers to discuss the national need for credit card reform.

Moody's Investors Service downgraded the long-term ratings of Advanta Corp. The rating agency lowered the credit card issuer's senior unsecured rating to 'Caa3' from Caa1.

The Treasury Department announced the receipt of more than 100 unique applications from potential fund managers interested in participating in the Legacy Securities portion of the Public Private Investment Program (PPIP).

Research from 12th Street Capital pointed out that the new program for homeowner affordability ensures that first and second lien holders are treated fairly and consistent with priority of liens.

For decades, the details regulators learned about banks through the examination process have been tantamount to state secrets available to a select few.

The Treasury Department has revised the President's loan modification plan to require participating servicers to consider the FHA Hope for Homeowners program as an option and write down the principal amount of the mortgage.

The Federal Open Market Committee (FOMC) has said that it is still evaluating a strategy that has lowered longer-term mortgage rates and has noted some slowing in the financial system's contraction, but it added that it currently considers economic woes remain bad enough to keep the shorter-term fed funds rate low for some time.

The Senate has passed a bill that expands the bank fraud statutes to cover independent mortgage companies and mortgage brokers and increases funding for federal investigations of mortgage and financial fraud by $165 million.

Credit card losses suddenly escalated in the first quarter as unemployment and other economic conditions worsened, spooking issuers to the point where most shied away from forecasting losses beyond the near term.

A proposal that would allow Ginnie Mae to give some type of assistance to the warehouse lending sector is moving closer to fruition, according to industry sources.

The Obama administration detailed new efforts to help bring relief to responsible homeowners under the Making Home Affordable Program.

April remittance reports reflecting March's collection period showed improved early-stage delinquencies, faster liquidation speeds, as well as higher loss severities, according to a report by Barclays Capital.

CitiMortgage ranked first among all jumbo lenders last year, but industry-wide residential fundings in this once hot sector fell by 57% according to new figures compiled by National Mortgage News (NMN) and the Quarterly Data Report.

Senate Democratic leaders want to force a vote on the bankruptcy cramdown issue this week even though they have not reached agreement on the cramdown provisions and it appears they don't have the votes to pass it.