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Lyondell Uses Securitization Facility as Part of Financing Package

March 12, 2010 – The proceeds from the debt financing, along with debt under a new European securitization facility and funds from a $2.8 billion rights offering, would be used to repay and replace existing debt.

HAMP Feb Report Released by Treasury and HUD

March 12, 2010 – The Treasury Department and the HUD today released February data for the HAMP.

ResCap on the Block?

March 12, 2010 – GMAC has hired Goldman Sachs to start the process of selling the company's money-losing mortgage unit ResCap.

• GMAC Plans to Correct RMBS Servicing Practice by April
• FDIC Extends Asset Safe Harbor
• FDIC Said to be Prepping Sale of $3 Billion of AmTrust Bank Loans

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Expiring Govt. Programs to Result in Higher RMBS Losses, Fitch Says

March 12, 2010 – Loss severities on distressed RMBS loans will probably increase this year as several key government support programs expire, Fitch Ratings said in a report.

Dodd to Introduce His Own Reform Bill

March 11, 2010 – Chris Dodd announced today that he plans to introduce a bill next week on his own with the goal of pushing it through the committee along party lines if necessary before the Easter recess.

Subprime Prices Increase Over 6%, Fitch Solutions Says

March 11, 2010 – Subprime RMBS prices in the U.S. reversed course this past month, with most vintages rising in value.

Freddie Mac Reports Slightly Lower Mortgage Rates

March 11, 2010 – Freddie Mac reported further easing in mortgage rates in the week ending March 11.

Barney Frank Pushes for Second Lien Principal Forgiveness

March 11, 2010 – Barney Frank's call for banks to forgive principal on second liens was music to the ears of mortgage bond investors who have been pushing the idea for about a year.

Geithner: We'll Get to GSE Overhaul

March 11, 2010 – Secretary Geithner defended the administration's decision not to outline a plan for the future of Fannie and Freddie until 2011.

TARP Watchdog: Treasury Should've Went BK with GMAC

March 11, 2010 – A scathing report by a Congressional watchdog examining the bailout of GMAC found that the Treasury Department did not adequately protect taxpayer money.

Commercial Banks Will be Big Buyers of MBS This Year

March 10, 2010 – Commercial banks will be big buyers of agency MBS this year and help keep mortgage rates in check after the Federal Reserve withdraws from the market.

Fitch Moves to Update Dutch NHG Criteria

March 9, 2010 – Fitch Ratings is seeking feedback from market participants on its revised criteria for rating transactions backed by the Dutch sponsored NHG.

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