Securitization

The nation’s megabanks are continuing to sit on their nonperforming residential loans, although some are currently out in the market with mid-sized packages.

The Senate last week rejected dueling Democrat and Republican proposals to extend the low interest on federally guaranteed student loans as the July 1 deadline to double the rate to 6.8% draws closer.

Standard & Poor's reported Tuesday morning that its national home price index fell 2% in the first quarter on a sequential basis.

Here’s an interesting statistic presented to me by one investor eyeing the mortgage market: over the past 18 months, REITs have raised $26 billion in new equity. Almost all of it has been targeted toward MBS investments. Very little has been plowed into mortgage servicing rights.

Following a slow beginning of the month, Standard & Poor's analysts, in a report released on May 25, stated that covered bond issuance has increased over the past few days.

In a report released Friday, Fitch Ratings stated that special servicers rarely exercise the fair value market purchase option or FVMO.

The Federal Home Loan Banks (FHLBs) stopped purchasing private-label MBS in 2008, but losses on those bad investments have been a major drag on earnings ever since. But that may be changing.

In a recent presentation to investors Fortress Investment Group estimated that $4 trillion in mortgage servicing rights may change hands over the next few years, but MSR investors and others say that estimate is much too high.

The Federal Reserve Board on Thursday released the last details of how two mortgage servicers — Citigroup and HSBC Finance Corp. — plan to fix problems in their home loan servicing and foreclosure processes.

Key senators signaled guarded optimism Thursday about the chances of finding a bipartisan compromise on mortgage refinancing legislation, though the bill still faces an uphill fight in the House.

Bond insurer MBIA’s chief attorney told a judge Thursday that the process the New York State Insurance Department (NYSID) and MBIA took to split the company was long and public.

Golub Capital Partners has priced a $411 million collateralized loan obligation backed by broadly syndicated loans, according to a report by Standard & Poor’s.

American International Group had some of the claims in its $10.5 billion suit against Countrywide Financial Corp. thrown out of court because they were filed too late.

The Federal Reserve Bank of New York said today that Citigroup had won the latest bidding process for another portion of the Maiden Lane III portfolio.

Residential Capital's bankruptcy filing on May 14 is a credit negative for two major bond insurers, Moody’s Investors Service said.

Chariot Funding LLC and Jupiter Securitization Co. LLC financed a £750 million ($1 billion) consumer loan facility.

Commercial real estate prices, as they are measured by Moody's Investors Service/Real Capital Analytics (RCA) Commercial Property Price Indices (CPPI) national all-property composite, remained flat in March.

Freddie Mac has released a statement that Bank of America will be repurchasing $330 million loans out of its Freddie pools because of reps and warrants contractual issues.

JPMorgan has established price guidance on a $513.35 million CLO it is marketing for Carlyle Investment Management, according to Reuters.