By Felipe Ossa
Much of the securitization universefrom auto loan deals to commercial-mortgage backedsuses whats known as the swaps curve to price floating-rate deals. Before 2000, Treasurys were the go-to benchmark. Pricing movements are causing some to ask whether the market should go back.
November 25, 2015 – Issuance of CLOs in the U.S. market this year fell short of 2014 totals will fall further next year, Wells Fargo Securities Senior Analyst David Preston said in a recent report.
November 25, 2015 – Commercial mortgages bundled into securities will keep seeing their underwriting standards deteriorate from this year into 2016, say JPMorgan analysts. But they predict the pace of deterioration will slow down, with pressure from investors deterring lenders from lowering their standards much more.
November 25, 2015 – The Consumer Financial Protection Bureau took "misguided and deceptive" actions in extracting settlements from indirect auto lenders for possible discrimination against minorities, House Republicans said in a report issued Tuesday.
November 25, 2015 – A new Fannie Mae program allowing non-borrower income to count in qualifying homeowners for low-down-payment loans received near-universal praise from industry representatives and federal officials at a recent housing symposium here.
November 17, 2015 – Are Fannie Mae and Freddie Mac an antidote to the influence of big banks in the mortgage market, and, by extension, in the economy? A Q&A with bestselling author Bethany McLean, who recently came out with "Shaky Ground," an in-depth look at the GSEs.
November 17, 2015 – The largest U.S. collateralized loan obligation manager by number of deals, it is raising its own capital to finance retention of stakes in its deals.
November 12, 2015 – A rule recently finalized by the Federal Deposit Insurance Corp. and other banking regulators would impose a margin-posting requirement for uncleared swaps, which are used to hedge interest rate risk in securitization.
November 9, 2015 – Forget "bigger is better". Several private-equity-backed lenders are making loans to small landlords, who represent the biggest chunk of the home-rental market and get less help from Fannie Mae and Freddie Mac than they once did.
October 22, 2015 – Springleaf's proposed acquisition of Citi's OneMain Holdings is being delayed by the Justice Department, which appears focused on preserving competition at the local level even as a raft of new subprime installment lenders are popping up on the Web
October 16, 2015 – While the vast majority of swaps used in securitization are uncleared, and currently don't face a margin requirement, this exemption may not last.
October 15, 2015 – A new program to provide the benefits of Ginnie Mae securitization to Federal Home Loan Bank members has been slow getting off the ground, but industry insiders say momentum is building
October 6, 2015 – The inclusion of a loan secured by Chicagos Prudential Plaza in a recent CMBS is causing a stir. Some investors are on edge about the propertys recent financing history, which suggest sharply different appraisal values within weeks of each other.
October 6, 2015 – If we can't identify adequate capital to bear mortgage credit losses when they are incurred, aren't we setting ourselves up for another series of bailouts in the next housing downturn?
October 1, 2015 – Federal student loan servicers could not market other products to borrowers and private student loans lacking certain protections could be discharged in bankruptcy under new recommendations unveiled Thursday by the Obama administration.
Firm: Broadmoor Consulting LLC
In the news: Marketplace Lenders Are a Systemic Risk
As concerns mount about the riskier loans being packaged into commercial mortgage backeds, several banks have come up with a new strategy for making deals more attractive to investors. They are boosting exposure to both high quality and highly leveraged mortgages.Current Issue