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Latest News

Ford and Harley Davidson in the Market with TALF Deals

– Ford Motor Credit Co. and Harley Davidson are in the market with Term ABS Loan Facility (TALF)-eligible deals.

Fannie Mae/Freddie Mac Get OK on 125% LTV

– Fannie Mae and Freddie Mac have received the green light from their regulator to refinance underwater homeowners with loan-to-value ratios as high as 125%.

FDIC, Advanta Reach Settlement

– The FDIC has settled with Advanta Bank Corp. regarding the latter’s alleged deceptive and unfair practices that are in violation of section 5 of the Federal Trade Commission Act.

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Features

Surprising Surge in Home Equity Loans

– Data suggests that many banks binged on home equity loans last year and began tightening standards only in the second half, after housing prices had already staged a dramatic retreat.

Realtors Foresee Rebound in Second Quarter

– Existing home sales bottomed out in the first quarter and sales should be up 3% when the final numbers come in for the second quarter.

CRE Sector Still Suffers Despite Economic Decline Slowdown

– The Mortgage Bankers Association (MBA) first quarter Commercial Real Estate/Multifamily Finance Quarterly Data Book released yesterday reported diminished demand for commercial real estate, although negative conditions for the sector are waning.

Credit Card ABS Remain Resilient Amid Stress

– Credit card ABS excess spread has fallen to levels not seen in ten years, according to the latest Credit Card Indexes report from Fitch Ratings. The rating agency added that U.S. consumers are still falling behind and defaulting on their credit cards.

U.K. Nonconfroming RMBS Hold Up Well

– Even in a severe stress scenario, U.K. nonconforming RMBS should not suffer losses nearly as severe as investors feared.

Regulatory Report Cites Better Mods But Finds Issues

– A regulatory report on the pace of mortgage modifications was a decidedly mixed bag, showing that although servicers have increased the number of sustainable modifications, serious delinquencies among prime borrowers continue to rise.

Commercial Property Could Become Operating Albatross

– Growing weakness in commercial real estate is poised to transform banking companies into accidental landlords -- with a new set of headaches.

TALF Eligibility Issues Still Surround Tweaked S&P Methodology

– Last Friday, Standard & Poor’s released its final report containing tweaked methodology for rating U.S. conduit or conduit/fusion CMBS transactions from that originally proposed.

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Current Issue

Industry Pleads Its Case Despite Uncertain Future

The European Securitization Forum and Information Management Network chose a more somber setting for this year's Global ABS gathering. Market players took a sobering look at the current state of play of the securitization market.

Current Issue

SFN Poll

Is the market on the mend or do the positive data on delinquencies point to merely a"virtual recovery?"




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