Securitization

Recent increases in auto sales are a harbinger for higher auto ABS issuance in the upcoming months, according to an emailed note this morning from Standard & Poor's.

Yesterday the Federal Reserve stated again that it would maintain its existing policies of reinvesting principal payments from its holdings of agency debt and agency MBS in agency MBSs.

The recent transfers to special servicing on CMBS large loans have demonstrated the default risk from near-term tenant rollovers, according to Barclays Capital in a report released Wednesday.

Bank of America, JPMorgan Chase, and three other residential servicers agreed to pay $25 million to New York State to resolve certain monetary claims over the use of the MERS database after reaching a $25 billion national settlement on robo-signing charges.

The size of the residential loan market over the short-term will be determined by the definition of 'qualified mortgage' (QM).

After holding above 4000 for eight straight weeks, the Refinance Index fell 4.1% to ~3972, according the Mortgage Bankers Association (MBA).

The Securities and Exchange Commission (SEC) Tuesday sued the former top executives of now defunct 'super' Jumbo lender Thornburg Mortgage.

Prior to the crackup of the housing market, most warehouse providers were ready, willing and able to extend credit to nonbank lending customers based on the value of their retained servicing rights. But then came the crash.

A rise in nonperforming loan sales will be a net positive for commercial real estate, according to Standard and Poor's in a note released this morning.

Given the strong rally in legacy CMBS, many investors are questioning how much and if there is any room for further spread tightening in the sector, FTN Financial analysts said in a report released yesterday.

Prime credit card ABS performance improved in February without near-term challenges apparent. However, retail card results came in mixed, reported the latest index results from Fitch Ratings.

A Maryland real estate investment trust plans to raise up to $1.8 billion in a secondary stock offering, using the proceeds to buy agency MBS.

European banks will likely reprise their former role as major RMBS buyers if the asset class becomes eligible for Basel liquidity requirements, as proposed in the CRD IV implementation draft put out by European Commission, according to analysts at RBS in their weekly ABS report.

PHH Corp. named Smriti Laxman Popenoe, executive vice president and chief risk officer at the firm, as interim president for PHH Mortgage.

National Credit Union Administration (NCUA) said Monday morning it will receive $5.25 million from HSBC for settling claims related to MBS it sold to five failed corporate credit unions.

For deals serviced by Wells Fargo, Ally Financial, and Citibank on private-label loans, the mortgage settlement's impact will likely be fairly negligible.

More than a month after federal and state officials announced a massive $25 billion settlement with the five mortgage servicers, the Justice Department on Monday finally released the actual legal document.

The Depository Trust & Clearing Corp. (DTCC) said that the Securities and Exchange Commission has approved its application to operate a new central counterparty (CCP) to limit MBS-related risk and costs.

The rate of improvement for U.S. subprime RMBS has slowed down, according to Fitch Ratings.

The European structured finance market has seen a rise in the ratio of deals sold to investors over those that are retained, according to analysts at Bank of America Merrill Lynch.