Securitization

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.

GE Capital is in the market with GE Capital Credit Card Master Note Trust Series 2012-1 worth roughly $606 million.

The Securities and Exchange Commission (SEC) has charged the investment advisory arm of UBS with failing to properly price securities in three mutual funds that it managed.

Structured finance software solutions provider Principia Partners has said that Serone Capital Management has chosen its Software-as-a-Service (SaaS) Platform for consolidated portfolio management, risk surveillance and operational control across its European credit investment business.

Senior tranches of vanilla ABS and RMBS deals in Europe should continue to benefit from the flight-to-quality mentality that has recently held sway in the continent, analysts from the Royal Bank of Scotland said Tuesday in an asset-backed strategy report that provides an outlook for 2012.

Some banks might be skittish about selling nonperforming loans in bulk, but the market clearly likes it when banks shed problems en masse.

VW Credit (VCI) is in the market with Volkswagen Auto Loan Enhanced Trust 2012-1 (VALET 2012-1) worth $1 billion.

An increase in late-stage arrears for prime Dutch RMBS is causing a build-up in potential foreclosure stock. However, a stall in the foreclosure process for these transactions will continue to pressure their collateral performance, according to a Fitch Ratings report.

Assured Guaranty Europe (AGE) has issued a financial guarantee for a U.K. Private Finance Initiative bond issue, the first European monoline wrap since the financial crisis erupted.

The Federal Reserve Bank of New York may be looking to resume sales from it Maiden Lane II portfolio, according to several market reports.

Mortgages continued to perform well through the second week of the New Year despite 10-year note yields declining below 1.90% (to 1.857% Friday morning) on continued uneasiness associated with Europe.

JPMorgan Chase suffered a residential repurchase loss of $390 million in the fourth quarter, a 17% increase from the year earlier period, and a sign that Fannie Mae, Freddie Mac and other secondary market investors are not easing up on their buyback demands.

Freddie Mac said it plans to issue a Mortgage-Linked Amortizing Notes security.

Goldman Sachs this week asked a federal court in Los Angeles to dismiss a billion-dollar private label MBS related lawsuit brought against the firm by the National Credit Union Administration.

Apollo Commercial Real Estate Finance Inc. has refinanced with Wells Fargo all of the debt outstanding under the Term Asset-Backed Securities Loan Facility (TALF) program administered by the Federal Reserve Bank of New York.

Redwood Trust, Inc. announced today that Brett Nicholas will take on the role as the mortgage REIT's President. Fred Matera will take over Nicholas' previous role of Chief Investment Officer.