Securitization

The Financial Industry Regulatory Authority’s (Finra) proposal to disseminate pricing data for asset-backed securities faces push back from a major industry trade group, SIFMA.

He's now heading the firm's efforts in developing clients. McPherson had previously left NewOak several months after participating in its late-2008 launch.

Final rules implementing the Volcker Rule remove many obstacles to securitization compared with the initial version.

U.S. ABS securitization issuance was $180 billion in 2013, down 3% from 2012, according to Thomson Reuters data.

Underwriting may be getting sloppy, but the market for commerical mortgage bonds appears headed for anothe year of issuance growth and declining delinquencies.

First-time collateralized loan obligation managers entered the game in droves in 2013, and participants expect the trend to continue in 2014, even if risk-retention regulation will make it more difficult for smaller firms to keep playing.

The country could begin issuing under its new covered bonds legislation as soon as the law comes into force in March 2014, according to Fitch Ratings.

Banks could end up holding more home loans on their balance sheets next year instead of selling them to Fannie Mae and Freddie Mac, the result of fee increases that are designed to increase the role of private capital in the mortgage market.

The European Banking Authority will allow RMBS to be counted in the Liquidity Coverage Ratio as "high quality liquid assets".

Barclays expects securitization of small business loans, leases on telecommunication towers, shipping containers, and other kinds of esoteric assets to increase next year, helped by a gradual improvement in the economy and investors continued appetite for higher-yielding assets.

Although Ocwen Financial agreed to pay more than $2 billion to settle allegations it mishandled foreclosures and mortgages for thousands of borrowers, it could have been even worse for the country's largest nonbank servicer.

They would be funded separately from its current auto loan portfolio and would not be included in the company’s current public securitization program.

The Basel Committee on Banking Supervision has proposed to relax securitization capital charges will lead to “meaningful reductions” in capital requirements.

The ratings agency said it plans to track performance measures such as charge-off rates, delinquency rollover rates, yields and excess spread to provide insight beyond the ratings.

Losses on the portfolios behind all U.S. auto loan securitizations tracked by Standard & Poor’s rose in October to the highest monthly level since January. Losses in the subprime segment hit their highest level since March 2010.

The final version allows banks to own and lend money to collateralized loan obligations backed exclusively by loans, though they may have to sell holdings of deals backed by bonds or other securities.

Issuers had engaged Standard & Poor’s to rate 32 collateralized loan obligations totaling $14.8 billion as of Nov. 29.