Securitization

National Credit Union Administration (NCUA) this morning proposed new rules for troubled debt restructurings that will cover how all federally insured credit unions account for delinquencies, charge-offs and income related to troubled home mortgages and member business loans, as well as for how those loans are reported on NCUA's quarterly Call Reports.

Foreign banks continue to drive volume of RMBS litigation claims filed in New York state court. The latest claim is a $1.2 billion lawsuit against Morgan Stanley filed by German lender Bayerische Landesbank.

JPMorgan Chase on Wednesday told a federal court in Wichita, Kansas that National Credit Union Administration’s (NCUA) negligence suit against top executives of WesCorp Federal Credit Union proves that it was the shortcomings of corporate executives – and not any misrepresentations by the Wall Street bank’s sales force in the sale of mortgage-backed securities – that caused the failure of WesCorp and three other corporate credit unions.

JPMorgan Chase CEO Jamie Dimon said President Obama's decision to expand investigations into home lending and sales of MBS could stop settlement talks with the states over foreclosure practices.

The Federal Reserve will not sell any of its massive holdings of agency MBS and Treasurys until 2015 as it strives to keep interest rates low, central bank officials said Wednesday afternoon.

President Obama's decision to create a new task force to investigate risky lending and securitization practices leading up to the financial crisis could complicate and delay a potential $25 billion settlement involving foreclosure and servicing abuses.Participants in the ongoing 'robo-signing' settlement negotiations recently signaled that they could be close to an agreement with the government.

The attorney General of Illinois Lisa Madigan sued McGraw Hill Cos., Standard & Poor's Financial Services and its business unit Standard & Poor's Ratings Services.

Private-label RMBS can experience a significant increase in losses in the coming months, according to a recent analysis by R&R Consulting.

Bond insurer Assured Guaranty has reached a three-part deal with Radian Asset that expands Assured Guaranty’s portfolio and business.

U.K. supermarket retailer Tesco PLC is in the market with its GBP450 million ($703 million) credit tenant lease securitization called Tesco Property Finance 5 Plc.

Fannie Mae's final multifamily issuance numbers for 2011 are in and they reflect a 50% increase from the previous year, according to an executive at the GSE.

Former Fannie Mae CEO Daniel Mudd, who was named last month in a mortgage-related Securities and Exchange Commission fraud suit, has officially resigned from publicly traded investment manager Fortress Investment Group and its board, ending a leave of absence.

Citigroup will no longer purchase "medium or high-risk" loans that could result in buyback requests from Fannie Mae or Freddie Mac, in the bank's latest effort to improve the quality of mortgages it buys from correspondent lenders, according to an internal memo obtained by ASR sister publication American Banker.

President Obama's State of the Union address included a section on refinancing initiatives that will strike a chord with mortgage investors, a Barclays Capital report said.

Realogy Corp. plans to issue roughly $593 million of senior secured first lien notes due 2020 and around $325 million of senior secured notes due 2020 in a private placement.

With both refinancing and purchase activity lower, mortgage application activity declined 5.0% in the week ending Jan. 20.

Dutch mortgage originator Obvion yesterday announced the first Dutch RMBS of the year, Storm 2012-I.

It would cost Fannie Mae and Freddie Mac almost $100 billion to write down the principal on the underwater loans they control to current market values, according to a new estimate released by the Federal Housing Finance Agency.

The state attorney general leading settlement talks with the country's top mortgage servicers batted down speculation Monday that a deal had been reached.

RIFCO National Auto Finance Corp. has received a new, $20 million securitization facility through Aviator Trust.