Securitization

The volume of CMBS conduit loans that were liquidated in February fell significantly, dropping 43% from January's reading, according to CMBS data provider Trepp.

The Treasury Department said Wednesday it is selling $6 billion of its common stock in American International Group (AIG), half of which AIG intends to buy itself at the initial public offering price.

General Electric Capital Corp. (GE) is going to issue under its GE Equipment Transportation LLC, Series 2012-1. The deal will be sized at $716.5 million, according to a Securities and Exchange Commission (SEC) filing on the offering.

Walter Investment Management Corp. (WIM) lost $4 million in the fourth quarter and $69 million for the year because of costs tied to its purchase of Green Tree Servicing, St. Paul, Minn.

The 9.37% CMBS delinquency rate in February was lower both sequentially and compared to year-ago monthly figures by Trepp's measure.

In a regulatory filing today, Ally Bank has upsized its previously $1 billion auto ABS to $1.7 billion. The deal is rated by Fitch Ratings and Moody's Investors Service.

Proposed changes to the Capital Requirements Directive (CRD IV) – which is the European Union's mechanism for implementing Basel III into law – could cause banks' capital requirements to be diluted.

Judicial Watch has sued the Federal Housing Finance Agency (FHFA), claiming that the agency wrongfully denied a request for documents related to a lawsuit over alleged misrepresentations of MBS.

Kleinberg, Kaplan, Wolff & Cohen, P.C. has hired Howard Mulligan as of counsel in the corporate department.

After peaking at 4538 for 2012, refinancing activity has declined for three straight weeks as mortgage rates remained above record lows.

Conventional 30-year prepayments increased around 12% versus an expected 6%-7%.

Nationstar Mortgage and an affiliate company Newcastle Investment Corp. have agreed to acquire roughly $63 billion in mortgage servicing rights from Aurora Bank, a subsidiary of the bankrupt Lehman Brothers.

The number of foreclosure sales spiked in January as banks and government agencies started to clear the backlog of properties that have been in the foreclosure process for several years, according to data released Tuesday.

As cities and towns across the country struggle to pay bills and prevent troubled properties from giving rise to blighted neighborhoods, they're turning by the hundreds to a new tactic.

President Barack Obama today announced the changes to the Federal Housing Administration (FHA) streamlined refinancings.

The Carlyle Group is planning a $494.2 million CLO. The deal, dubbed Carlyle Global Market Strategies CLO 2012-1, would be the private equity firm’s thirty-third, and its first new issue for 2012. It is an arbitrage cash flow CLO with a four-year reinvestment period, scheduled to end in April 2016, according to a presale report by Fitch Ratings.

The CMBS market appears to be looking up performance-wise, but there may be less of it in terms of outstandings, and despite stronger originations, according to a new report from Moody's Investors Service.

Investors will get a shot at picking up U.K. subprime paper via the new securitization of assets that were originated by GMAC Residential Funding Co.

As reported yesterday by ASR in this article, Morgan Stanley and Bank of America are teaming up to issue a CMBS conduit. For the Securities and Exchange Commission filing related to the deal, please click here.

Standard & Poor's analysts are projecting that 2012 Canadian covered bond issuance will reach C$20 billion. However, this number is below 2011's record C$25.7 billion.