Securitization

DataQuick, a provider of real estate information solutions, today released RiskFinder Distress at ASF 2012.

According to ASR sister publication National Mortgage News, reports have surfaced regarding two top 10 ranked banks that are working on Jumbo deals for later in the year.

In a press conference held last week, Credit Suisse analysts said that the rampant use of principal forgiveness is a dangerous path because it promotes moral hazard.

VantageScore Solutions has stated that 46 investors, who run the gamut, are now using its consumer credit score model in their risk and pricing models.

Data provider CoreLogic has released an enhanced version of its RiskModel, which is a commercial analytics application utilized by the major banks and regulators to project future RMBS prepayments, defaults, losses and cash flows.

The Federal Reserve Bank of New York (FRBNY) resumed sales from its Maiden Lane II portfolio last week to strong investor interest, which should serve as a positive across the scope of structured finance, according to Deutsche Bank Securities analysts.

The NFL playoffs were on most securitization players’ minds when ASF 2012 started yesterday afternoon. The annual conference is being held this week in Las Vegas.

Prices finally eased back with the 10-year note yield rising from 1.85% last Friday to over 2.0% by mid-afternoon today as markets added risk on a break from adverse headlines out of Europe.

State attorneys general will meet Monday to discuss a potential settlement with bank servicers over the robo-signing scandal, according to a spokesman for Iowa AG Tom Miller.

Roughly $30 billion of Freddie Mac servicing rights that once belonged to the now defunct Taylor, Bean & Whitaker Mortgage Corp. could hit the market next month, according to officials close to the auction.

Regulators and a Home Loan bank have asked First Horizon National Corp. for information about some of its securitizations, executives said Friday.

Bank of America has raised a $388 million CLO for Symphony Asset Management.

Bank of America mid-week told its retail loan officers nationwide that the lender will halt, for now, originations of cash-out refinancings, citing what it calls a “surge of refinancing activity” and capacity problems.

It appears that Fannie Mae and Freddie Mac are starting to see their market shares erode. The same might be said of Ginnie Mae.According to figures compiled by ASR sister publication National Mortgage News, the three mortgage guarantors accounted for 84.54% of originations in the third quarter, compared to 91.75% in 2Q.

Robust attendance is expected at the American Securitization Forum's (ASF) ASF 2012 to be held in Las Vegas' ARIA hotel and convention center starting this Sunday, Jan 22. The conference will last until Wednesday, Jan 25.

Student loan giant Sallie Mae, which has had a difficult few years, reported lower delinquencies and charge-offs, and declining operating expenses, helped fuel a 14% rise in fourth quarter earnings, to $511 million.

The head of the Mortgage Bankers Association (MBA) is calling on his brethren at other trade groups to work together with MBA to forge coordinated policies to “reestablish a vibrant” housing finance system in the U.S.Speaking to financial services executives and lobbyists at the Exchequer Club on Wednesday, MBA president Dave Stevens said Congress and the Obama Administration continue to take a haphazard approach to reviving the housing market.

Ginnie Mae is in the process of hiring at least 40 new employees, which would increase the secondary market agency's staff by one-third.

Goldman Sachs has offered initial price guidance on certain slices of a $400 million CLO it is arranging for Ares Management, according to reports.