Securitization

Bank of America, Citigroup and JPMorgan Chase all received failing grades on Fannie Mae's test of mortgage servicers based on overall performance, customer service and foreclosure prevention efforts.

Private student loan lenders already give borrowers options that fall in line with what the Consumer Financial Protection Bureau is considering to make private student loan repayments more affordable, according to the Education Finance Council.

They will report to Adam Siegel and David Cannon, both co-heads of ABS/MBS/CMBS trading, Americas.

Flagship Credit Acceptance is in the market with a $222.16 million transaction backed by subprime auto loans and led by Wells Fargo Securities.

Flagship Rail Services plans to issue an inaugural securitization of railcar leases that has been assigned preliminary ratings by Standard & Poor’s.

Wells Fargo plans to issue a $300 million single asset, CMBS that is collateralized by one fixed rate whole loan secured by Bergen Town Center mall in Paramus, NJ.

The CMBS conduit new issues pipeline heated up with several new issuers coming to market on Monday that included a $1.27 million Morgan Stanley/Bank of America Merrill Lynch deal.

Australian residentical mortgage-backed securities (RMBS) are benefitting from a benign local economic conditions.

Bankruptcy filings fell 13.2% in 1Q13, much faster than the 6%-7% rate that Fitch is predicting for the full year.

Cantor Commercial Real Estate Lending, German American Capital Corporation and KeyBank are sponsors on the latest CMBS conduit to come to market.

The currently marketing $1.2 billion, UBS and Barclays’ conduit gets the distinction of being the first U.S. CMBS to include a non-U.S. domiciled asset, according to BofA Merrill Lynch.

Toyota Motor Credit Corporation kicks off 2013 issuance with plans to bring a $1 billion auto receivables-backed securitization deal.

UBS lost its appeal today to dismiss the Federal Housing Finance Agency lawsuit against it for fraud and misrepresentation in mortgage-backed securities, according to court documents.

Obvion announced plans to issue a €744.7 million ($969.10 million) Dutch RMBS, Storm 2013-II— its 2nd transaction of 2013.

The Loan Syndications and Trading Association is proposing a new risk retention plan for CLOs that meets the Dodd-Frank Act's requirements while allowing market players to originate new CLOs.

John Deere Capital Corp. priced its $851.42 million equipment lease-backed securitization, according to final term sheet filed with the U.S. Securities and Exchange Commission today.

German American Capital Corp. and Citi priced $525 million of bonds backed by the mortgage on a single commercial property, a mall in Scottsdale Ariz., according to a person familiar with the transaction.

The percentage of securitized commercial loans paying off at maturity, when the bulk of the principal is due, dropped to 56.6% in March, according to Trepp.

Sallie Mae priced the $1.246 billion SLM Student Loan Trust 2013-1, its second government guaranteed student loan securitization of the year, on Wednesday.

CNO Financial closed on the $413 million Cedar Creek CLO, its fourth collateralized loan obligation.