Securitization

Moody's Investors Service has just released a Request for Comment (RFC) that describes its proposed approach to rating ABS backed by U.S. FFELP student loans.

The Federal Reserve Bank of New York has sold $7.014 billion worth of assets from its Maiden Lane II (ML II) portfolio via a competitive process to Credit Suisse.

The Bundesbank, Germany’s central bank, plans to shed roughly €2 billion ($2.6 billion) of distressed property loans tied to the Lehman Brothers' debacle, according to a Financial Times report today.

Bank of America CEO Brian Moynihan said the ongoing settlement talks between the federal government, state attorneys general, and the nation's largest servicers have produced a "package of programs that we believe will be very positive" for the housing market.

Data provider Lender Processing Services (LPS) reported today December 2011 month-end mortgage performance statistics derived from its loan-level database of close to 40 million mortgage loans.

Russian bank VTB 24 is looking to do a securitization of its car loan portfolio and might announce this transaction in 1Q12, according to Interfax Information Agency report.

Freddie Mac reported a new low of 3.88% on 30-year fixed mortgages for the week ending Jan. 19, down one basis point from last week.

Freddie Mac yesterday afternoon released the results of its 28th Annual Adjustable-Rate Mortgage Survey of prime loan offerings. The GSE conducted the survey from Jan. 3 to Jan. 5.

Carrington Holding Co. announced an agreement with certain investment funds managed by Oaktree Capital Management to fund the purchase of up to $450 million in distressed single family homes on a national basis.

The nation's attorneys general, the Department of Justice and the U.S. Department of Housing and Urban Development (HUD) are “very close” to finalizing a legal settlement to settle 'robosigning' allegations levied against the nation's dozen or so top-ranked servicers, HUD secretary Shawn Donovan said Wednesday morning.

Greenberg Traurig hired Juan Manuel Gonzalez Bernal as a shareholder in its newly established office in Mexico City.

An 11th-hour settlement is expected to stave off potential class action status in a lawsuit that claims foreclosed borrowers were overcharged for attorneys’ fees that the Mortgage Electronic Registration Systems (MERS) did not actually incur.

Cantor Fitzgerald & Co. has expanded its U.S. equity research sector coverage by hiring a dedicated REITs research team.

Freddie Mac hopes to issue more Mortgage Linked Amortizing Notes similar to the one it priced late last week.

The Refinance Index surged 26.4% to 4500.6 in the week ending Jan. 13 and it is closing in on 2011's record high of 4866.7 set in mid-August. This was reported by the Mortgage Bankers Association (MBA) this morning.

Clayton Holdings has completed the acquisition of West Valley, Utah-based Green River Capital, which offers REO, short sale and broker price opinion (BPO) services.

National Credit Union Administration (NCUA) urged a federal judge here last week not to dismiss its claims against underwriters of more than $1 billion of MBS sold to WesCorp Federal Credit Union, as the regulator’s numerous legal claims in the corporate credit union failures appear to be slipping away.

Recent changes to a special GSE refinancing program have been in effect for just six weeks, but lenders are already concerned that Home Affordable Refinance Program (HARP) 2.0 will fall short of its goal of helping one million homeowners saddled with high LTV loans.

Citigroup repurchased 6,800 residential loans in 2011, an 80% jump from 2010 with Fannie Mae and Freddie Mac accounting for the lion's share of those buybacks, according to figures released Tuesday.

Among the ramifications of paying for the tax cut extension by hiking agency guarantee fees in April could be upward pressure on consumer rates and an improvement in MBS prepayments.