Securitization

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.

Federal banking agencies today announced a regulatory capital estimation tool to evaluate recently published Basel III capital proposals.

Lender Processing Services (LPS) data reveal that both the foreclosure rate and mortgage delinquencies continued to decline through August.From a database of nearly 40 million loans nationwide that represents approximately 70% of the overall market, LPS said in its “first look” report that August’s foreclosure rate was 4.04%. This figure represents a 1% decline from the previous month and 2% less than a year ago. Additionally, it is the lowest foreclosure rate since October 2010.

Interactive Mortgage Advisors (IMA), Denver, is offering two small bulk mortgage servicing rights packages one backed by loans in Pennsylvania and the other in Nevada.

Royal Bank of Canada plans to issue credit card transactions under its Golden Credit Card Trust Series 2012-5 and Series 2012-6.

Republican presidential candidate Mitt Romney and running mate Paul Ryan released a white paper on Friday outlining a plan to improve the housing market.

Beacon Container Finance is in the market with a $200 million container ABS transaction. The deal marks the company's debut in the securitization market.

Investors had been anticipating and preparing for QE3 action since spring, so it was only natural for profit taking to emerge, especially with quarter-end approaching.

Director Richard Cordray of the Consumer Financial Protection Bureau has said that lenders should not be overly concerned with potential legal liability for making so-called "qualified mortgages"

The RMBS Working Group, which was formed to probe misconduct in the mortgage market during the run-up to the financial crisis, may be getting ready to take action.

Bank of America this week auctioned off $14 billion worth of residential mortgage servicing rights, according to bidders and advisors close to the situation.

Citigroup is marketing a $655 million collateralized loan obligation for Carlyle, the private equity firm's third deal this year.

The pace of new issue CMBS deals maintained momentum with the addition of two new deals on Thursday.

Clopton Capital is now offering borrowers recapitalization options for overleveraged and distressed commercial properties.

Matthew G.J. Duncan, Theresa Kradjian, and Paul Matthews join the firm from Sidley Austin. Sean J.W. Crosky came from Norton Rose, according to a release from the law firm.

e continued CRE deleveraging is a credit positive for the sector even though decreasing CMBS outstandings can hurt liquidity, Standard & Poor's analysts said.

Canadian credit card ABS provides good diversification as well as spread pickup for U.S. credit card buyers, Citigroup Global Markets analysts said.