Securitization

Markit announced that Markit iTraxx dealers have voted to change two rules governing the Markit iTraxx Europe indices in order to make them more reflective of the current economic environment. The new rules will come into effect before next month’s index roll into series 11 on March 20.

One part of the government's Homeowner Affordability and Stability Plan is a $75 billion program targeted at the three to four million at-risk borrowers.

Barclays Capital priced a $1.1 billion auto ABS deal for Nissan Motor Acceptance Corp., NAROT 2009-1. The bank was sole bookrunner and structuring agent.

Mission Capital Advisors hired Jason Cohen as a managing director in the firm's New York office.

The U.K. Banking Bill now being considered by the U.K. Parliament won't affect ratings of structured finance transactions and covered bond programs in the country, Fitch Ratings said last week.

The Financial Accounting Standards Board said Wednesday that it would review fair-value accounting practices.

Obama administration officials have decided to limit refinancings of "underwater" Fannie Mae and Freddie Mac mortgages to a loan-to-value ratio of 105% so the new mortgages can be securitized, according to Federal Housing Finance Agency Director James Lockhart.

The Obama administration announced a larger-than-expected program Wednesday designed to help up to 9 million homeowners avoid foreclosure.

Standard & Poor's has lowered its counterparty credit, financial strength, and financial enhancement ratings on MBIA Insurance Corp. (MBIA) to 'BBB+' from 'AA'. The outlook on MBIA is negative, according to a release from S&P.

Janney added two managing directors to its municipal capital markets group, including one with a specific background in securitization.

New proposals for updating the Basel II framework would impact structured finance globally and the ABCP market in particular, according to Fitch Ratings.

The December TIC data showed that overseas investors were net sellers of $37.5 billion agency bonds (agency debentures combined with agency MBS) over the month.

Fannie Mae and Freddie Mac have joined several major banks in declaring a foreclosure moratorium, a move designed to give President Barrack Obama's administration a few weeks to roll out its homeowner retention plan.

The head of European leveraged credit trading for Morgan Stanley has resigned.

The Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS) are expanding the scope of the mortgage performance data derived from national banks and thrifts to include additional information on the affordability and sustainability of loan modifications.

European catastrophe insurance data will be more accessible after the recent launch of two new products from the Zurich-based PERILS AG.

Broadpoint Capital, a broker-dealer subsidiary of Broadpoint Securities Group, has tapped a trio from RBS Greenwich Capital for its rate group and sales and trading team.

Fitch Ratings has removed IndyMac and reverse mortgage lender Financial Freedom from its "rating watch evolving" list and upgraded its servicer ratings on IndyMac.

MGIC Investment Corp., the nation's largest mortgage insurer, said it will still cover broker-sourced loans but come March 9 will eliminate other products from its menu, including cash-out refinancings.

The House approved the final version of a $787 billion economic stimulus bill Friday on a vote of 246 to 183. The Senate is expected to vote later Friday.