Securitization

Given the economic uncertainty in Greece, many investors were interested in the results of the Greek election last weekend that resulted in New Democracy (ND) leader Antonio Samaras winning.

The Consumer Financial Protection Bureau (CFPB) will begin publishing credit card complaints today in a searchable database, allowing the public for the first time to scrutinize the way individual banks handle complaints.

The Federal Reserve Bank of New York is selling assets from 11 CDOs forming part of its Maiden Lane III (ML III) portfolio. Offering circulars were released yesterday.

The chief financial officer of the now-defunct Taylor Bean & Whitaker (TBW) will be spending at least five years in prison for concealing the fraudulent activities of the privately held mortgage banking company.

For most consumer and commercial asset-backeds, the new draft final rules for risk-based capital are expected to result in capital charges that are higher compared to those under Basel II.5 or III, according to Bank of America Merrill Lynch analysts in a recent report.

3i Debt Management has hired former Credit Suisse CLO chief Andrew Bellis to head up the firm’s global growth effort, the company said.

The credit scoring system is broken, plain and simple.

Auto and credit card securitizations are filling the pipeline this week. There is also a timeshare deal from Marriot Vacations Worldwide Corp. (MVW).

Wells Fargo & Co. ended March with $1.84 trillion of residential servicing contracts on its books, once again ranking first — but barely growing its market share.

The Mortgage Bankers Association (MBA) has formed a select committee to find a replacement to departing president David Stevens with 15 candidates being thrown into the pool, according to officials familiar with the process.

Residential Capital has rejected Warren Buffett’s offer to be the initial bidder in proposed auctions of ResCap assets, Bloomberg News has reported.

A federal court panel said Bank of America can't consolidate multiple lawsuits involving losses suffered from the collapse of Taylor Bean & Whitaker and Colonial Bank in a multibillion-dollar fraud.

A proposal by regulators to revamp the way banks must measure risk on certain assets is alarming many community bankers who argue it will raise capital requirements, increase compliance costs and curb lending.

Dutch house prices are expected to fall by at least another 7% on the back of a deteriorating macro-economic environment, said Fitch Ratings in a report today.

Moody’s Investors Service's downgrade of Spain may have deepened the European debt crisis, but it isn't indicative of the performance securitized deals in this or other peripheral states.

Players in the asset-backed commercial paper market have learned their lessons from the financial crisis and are ready to apply them in the wake of bank downgrades by Moody's Investors Service.

The Securities Industry and Financial Markets Association (SIFMA) President and CEO, Tim Ryan said on Bloomberg TV that financial regulatory reform has added more complexity to the already difficult financial institution world.

Structured finance investors would prefer to rely on fewer sources of pricing for tracking deals, according to 107 investors in the industry surveyed by Principia Partners.

Industry groups asked the Consumer Financial Protection Bureau Wednesday to convene a panel to review the potential effects of new mortgage lending standards on small businesses.