Securitization

The Credit Suisse deal called CSMC Trust 2012-CIM3 makes considerable effort to address R&W mechanics that continue to result in controversy and litigation for legacy RMBS, S&P analysts wrote.

Although the securitization market is still struggling to regain its post-crisis footing, there are glimpses of hope. In this month's cover story, for instance, Nora Colomer explores a potential source of new deal flow.

One of the few positive outcomes of the financial crisis has been the strong performance of consumer ABS, which has become the gift that keeps on giving to investors

The private-label RMBS market may experience a quadrupling in volume in 2013 over 2012 as issuers see more favorable terms.

As policymakers mull the future of U.S. mortgage policy,FHFA chief Edward DeMarco sees a potential starting point in an entity he does not regulate: the FHA.

Given the importance of housing to MBS credit and prepayment performance, MBS investors have always kept one eye on trends in national and regional real estate markets.

Utilities and regulators are pushing to meet evolving green energy requirements, and securitization offers a cost-effective way to finance the cleanup.

CMBS have enjoyed a steady recovery in spreads and dramatic improvement in credit performance this year, setting the stage for a pickup in issuance in 2013.

A highlight in the month was Barclays Bank's first SEC-registered credit card platform called Dryrock Issuance Trust.

View the year-to-date manager rankings for the different ABS sectors, including real estate, credit cards and autos.

Santander Consumer Bank's Bilkreditt 3, a Norwegian Auto ABS, this week became the first deal to be tagged with the prime collateralized securities stamp of approval.

The deal, called Series 2012-2 is the second deal for DRI Capital this year, according to Moody’s Investors Service. The ratings agency rated both the earlier March deal and the issuer’s latest deal.

Interactive Mortgage Advisors is offering a package of Ginnie Mae bulk servicing rights with an option to buy upwards of $1.5 billion in added ‘flow’ rights in the next year.

Nelnet is marketing a $1.01 billion student loan securitization deal called Nelnet Student Loan Trust 2012-6.

The European Central Bank this week said it will delay the go live date of its European DataWarehouse, pushing the implementation timeline for RMBS to Jan. 3, 2013 from Dec. 1, 2012.

Redwood Trust said it has closed on a $291 million securitization of mezzanine loans and other subordinate commercial real estate debt.

Freddie Mac’s efforts to support the pricing of its MBS — known as “participation certificates”— resulted in a spike in its loan and MBS purchases in October.

Moody’s Investors Service said in a report today that the AvalonBay and Equity Residential’s acquisition of Archstone Enterprise’s multifamily portfolio poses integration risk and will cause immediate deterioration in leverage metrics for both companies.

Craig Eastmond has been appointed managing director of capital markets at United Realty Capital, the company announced today.

JPMorgan Chase is in the market with a CMBS deal called Commercial Mortgage Securities Trust 2012-PHH.