Securitization

Deals from Sallie Mae and American Credit Acceptance are filling the ABS pipeline this week.

Kroll has assigned preliminary ratings to BAMLL 2012-PARK, a $300 million CMBS single borrower offering.

The Mortgage Forgiveness Debt Relief Act is slated to expire at the end of the year unless Congress passes a bill to continue it in the next few weeks.

The annual FHA actuarial report showed that loans originated after fiscal-year 2009 downward will perform much better and generate needed revenue for the agency's mortgage insurance fund.

The expected growth will be driven by rising auto and credit card supply, JPMorgan analysts said in a report released last week.

Mortgage application volume decreased by 2.2% on a seasonally adjusted basis for the week ended Nov. 16, according to the MBA.

CREL CDO delinquencies registered their first rise since May 2012, Fitch Ratings reported based on its latest index results.

The affected securities are backed by first- or second-lien residential mortgages, private student loans, RMBS, CMBS and ABS, the agency said.

S&P/Experian composite default index went up nine basis points to 1.55% in October, although has dropped 60 basis points year-over-year.

The move to raise the premium should not become a considerable impediment to refinancing for most FHA borrowers since they can still apply for a mortgage.

New York Attorney General Eric Schneiderman has filed a lawsuit against Credit Suisse for allegedly deceiving investors in MBS.

Most of a lawsuit that charges Barclays with misleading mortgage investors may proceed, a federal judge in Manhattan has ruled.

The agency's president Ted Tozer said the government guarantor has enough cash reserves to handle any potential losses.

ResCap won court approval to sell its mortgage-servicing unit to Ocwen for $3 billion after putting off a fight with loan investors and resolving other objections.

Moody's has downgraded MBIA Insurance Corp. to 'Caa2' and MBIA to 'Caa1.'

The 144A transaction called Centre Point Funding, LLC, Series 2012-2 is backed by rental trucks.

The firm's analysts offer their view on the fiscal cliff’s potential effect on each securitization sector and how this impact relative value.

The CLO new-issue market continues to chug along, with five new deals totaling $2.6 million printed last week, according to a report from Bank of America Merrill Lynch.

Barclays Capital expects total issuance volume for European securitization to remain more or less the same in 2013 from this year.

Barclays Capital said that bank credit card collateral performance was positive, although retail card performance deteriorated.