Securitization

The new $876mn conduit CMBS from Deutsche Bank/Cantor will raise year to date issuance in the sector to $32bn, $1bn less than 2011’s full year total, according to today's Standard & Poor's securitization update.

Mortgage performance at national banks improved slightly in the second quarter, and seriously delinquent loans were at their lowest level in three years, the Office of the Comptroller of the Currency said Thursday.

The auction process for the government-controlled Residential Capital Corp. could last for up to five days with the bankruptcy court not approving a winning bidder for almost a month.

Freddie Mac has issued its first floating rating multifamily CMBS from its capital markets execution program.

Attorney Bart Dzivi, who served as counsel to the Financial Crisis Inquiry Commission in 2009 and 2010, proposes government must help prevent a future economic collapse by promptly and urgently prosecuting top executives for their crimes.

Both TD Bank and Scotiabank may reportedly be among more than 15 bidders for the non-U.S. operations of Ally Financial.

Mortgage applications rose almost 3% on a sequential basis for the week ending Sept. 21

Jeffrey Gundlach, the CEO of DoubleLine Capital whose home was burglarized earlier this month, has offered some $1.7 million for information leading to the recovery of stolen artwork.

Flagstar Bancorp must stand trial over charges it breached contracts for financial guaranty insurance on roughly $1 billion in RMBS it had issued during the run-up to the financial crisis.

California Gov. Jerry Brown this week signed three new laws that are part of the Homeowner Bill of Rights.

These banks have completed more than $4.16 billion in cross-border credit card ABS issuance year-to-date.

Investors can reach for yield beyond senior CMBS and yet maintain a higher level of credit enhancement through single-asset or single-issuer deals, FTN Financial analysts said.

The National Credit Union Administration alleged the sale of faulty MBS by Barclays to U.S. Central Federal Credit Union and WesCorp Federal Credit Union contributed to their 2009 collapse.

United Realty Partners has hired Barry Funt as president of United Realty Capital Markets.

The Mortgage Bankers Association and other industry groups have lined up considerable legal talent to prevent and block any local community from invoking eminent domain.

Credit card indicators are looking good with August numbers showing charge-offs decreasing for most asset-backed securities trusts, Citi analysts said.

Richard D. Baum has been elected as chairman of Redwood Trust, the only current consistent issuer of private-label MBS.

PennyMac has agreed to buy $452 million of nonperforming whole loans from undisclosed sellers, according to a recent SEC filing.

Early results for the 2012 vintage subprime auto ABS transactions have shown that cumulative net loss rates in the sector are comparatively "well behaved," Wells Fargo analysts said.