By Felipe Ossa
If you want to know what a Greek exit from the euro would do to the 16.7 billion ($19 billion) of bonds out there backed by Greek assets, a good place to start is Argentina.
February 27, 2015 – Ocwen Financial Corp., the mortgage servicer under attack for its handling of home loans, is being fired from overseeing debt backing two bond deals, according to notices sent to bondholders.
February 27, 2015 – The firm had originally expected issuance to be as high as $120 billion as managers rushed to complete deals before risk retention rules take effect in 2016; so far that isn't really happening.
February 27, 2015 – While historical losses for this agricultural equipment leases have been low, Fitch is concerned that farm income could be negatively impacted if commodity prices remain low for an extended period of time. This risk is exacerbated by the high concentration of agricultural equipment leases in the deal: 75%.
February 26, 2015 – Westlake's deal benefits from higher credit enhancement than its previous securitization, according to S&P; the collateral backing Flagship's deal is "marginally weaker."
February 24, 2015 – State attorneys general continue to aggressively investigate Ocwen Financial's mortgage servicing practices, but they are also mindful that too much enforcement could cripple the company and cause major headaches for millions of homeowners whose loans Ocwen services.
February 20, 2015 – The chief executive officer of Exeter Finance responds to critics who argue that it's become too easy for Americans with low credit scores to finance a car purchase
February 3, 2015 – Bank of America is following Wells Fargo by putting out for sale the last of its federally guaranteed student loans; it may well repurchase them one day if they are securitized.
February 3, 2015 – The first deal of 2015 showed that investors want exposure to loans that are anything but the safest bets.
January 29, 2015 – The industry may be hoping the Supreme Court kills the unpopular disparate impact theory via a pivotal Texas case argued Jan. 21, but some of the justices statements left analysts skeptical that the legal basis used in fair lending cases will end.
January 29, 2015 – The commercial real estate market breathed a sigh of relief when Congress finally renewed the Terrorism Risk Insurance Act on Jan. 12, nearly two weeks after it had expired. But borrowers and loan servicers are still dealing with headaches created by this short gap in coverage.
January 28, 2015 – Forget the swaps pushout; structured finance professionals are much more concerned about a proposal that would require ABS vehicles to post variation margin basically additional cash everyday on the swaps they tend to engage in.
January 23, 2015 – While larger lessors such as Aercap and GE Capital Aviation Services have generally found funding via general corporate obligations to be more attractive, securitization has become an important source of capital for some smaller firms that would have difficulty tapping the high yield bond market.
January 23, 2015 – Moody's Investors Services' rankings for the fourth quarter of 2014 still includes many familiar names, but the industry's heavyweights lost ground to some medium-sized managers.
January 21, 2015 – An economy on the rebound and greater regulatory clarity are two leading catalysts. Another is the prospect of rising interest rates, which should make it more attractive to issue short-term debt to fund longer-term assets, such as consumer loans and other kinds of debt that will eventually be securitized.
Vice President of Regulatory Compliance
Firm: Clayton Holdings
In the news: How Ability-to-Repay Rules Could Reshape RMBS Market
The first deal of 2015 showed that investors want exposure to loans that are anything but the safest bets.Current Issue