Securitization

It's official.

Markit announced today that following a majority dealer vote its iTraxx Asia, Japan and Australia indices will now roll into Series 10 on Sept. 29 instead of Sept. 22 as previously planned.

Refinancing activity surged — as was expected — in response to the dramatic decline in mortgage rates following the government takeover of the GSEs.

Barclays Capital will be buying Lehman Brothers' capital markets and investment banking divisions, according to sources close to the firm.

The mortgage-related businesses that Bank of America Corp. would get from buying Merrill Lynch might look redundant after its July purchase of Countrywide Financial Corp., but some observers say one or both of Merrill's subprime servicing units might help BoA work through its problem Countrywide loans.

Citing "recent industry and market conditions, Ginnie Mae said it will raise the bar for issuers of its mortgage-backed securities.

George Miller, executive director of the American Securitization Forum, today made the following statement responding to the proposed amendments from the Financial Accounting Standards Board:

Federal Housing Finance Agency Director James Lockhart just announced the appointments of new non-executive chairmen of the Boards of Directors of Fannie Mae and Freddie Mac.

Following its rating downgrade of Lehman Brothers Holdings long- and short-term

The offshore law firm Appleby said it plans to extend its global network with offices opening in Dubai and in Zurich.

The Financial Accounting Standards Board just released three exposure drafts.

Moody's Investors Service downgraded Aurora Loan Services' Servicer Quality (SQ) ratings: primary servicer of prime residential mortgage loans downgraded from 'SQ2' to 'SQ3'; primary servicer of subprime residential mortgage loans downgraded from 'SQ2-' to 'SQ4+'; special servicer downgraded from 'SQ2-' to 'SQ4+' and master servicer downgraded from 'SQ1-' to 'SQ3+'

After a majority dealer vote, the Markit iTraxx European investment grade and

In the wake of the announcement of the Lehman Brothers bankruptcy, ABS market participants are examining its effect on the industry.

Bank of America has bought Merrill Lynch, the most recognizable name in the brokerage industry, in an all stock transaction valued at $50 billion.

Lehman Brothers' filing for protection under U.S. Chapter 11 is likely to lead to some rating action on a number of European CMBS transactions, says a Barclays Capital research note.

Stifel Financial Corp. announced that Joseph Sullivan, a director of the firm and head of fixed-income capital markets for the company’s principal subsidiary, Stifel, Nicolaus & Co. will resign from these posts to become chief administrative officer of Legg Mason.

The Lehman Brothers-owned Aurora Loan Services — the nation's largest alternative-A servicer with a portfolio north of $80 billion — could have a new parent company very soon.

Manager Activity: AutosFull Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market

Islamic finance had its start in the 1960s and 1970s with the influx of petrodollars into the Gulf region. The rapid development of Middle East markets - Saudi Arabia, Kuwait and the United Arab Emirates - has stoked interest in a type finance that is based on the principles of Shari'a. Industry experts estimate that Islamic finance has enjoyed double digit annual growth with nearly $1 trillion put to work in Shari'a structures.