March 10, 2014 – One is a $300 million deal backed by a single-loan and rated by Standard & Poor's; the other is a $927 million conduit rated by Kroll Bond Ratings,
March 10, 2014 – The deal is AmeriCredit's first of 2014 and is lead by a group of eight arrangers.
March 10, 2014 – Fitch Ratings applied a "additive haircut" to account for the risk that the "unprecedented supply" of Hyundai and Kia vehicles coming off lease could depressed use car prices.
March 10, 2014 – Both the $700 million of two-year class A floating-rate notes and $300 million of three-year class A fixed-rate notes will be issued from the lenders Ally Master Owner Trust.
March 10, 2014 – Some $50 billion of credit card ABS matured in 2013, but Fitch Ratings expects this figure to fall to roughly $41 billion in 2014 and then to just over $21 billion in 2016.
March 3, 2014 – The powerful storm surge produced by Hurricane Sandy has added momentum to the federal governments efforts to farm out a portion of the risk now borne by the National Flood Insurance Program, and there appears to be a strong appetite in the private market.
February 28, 2014 – Managers and arrangers of U.S. collateral loan obligations have struggled to satisfy the European Unions risk retention requirement. However, the final draft rules published by the European Banking Authority include a new concession that may assist U.S. managers in accessing an investor base in the region.
February 27, 2014 – Dan Feshbach, founder and CEO of MeasureOne, thinks that disclosure of loan-level data can do for the student loan market what it did for mortgages: deepen the market for securitization.
February 21, 2014 – The biggest issue at hand is the nature of private-public risk-sharing in mortgage credit risk; for the next generation secondary market to thrive, there must be some limited form of government guarantee present to reduce potential investor flight during times of crisis.
February 18, 2014 – While lawmakers continue to press regulators to exempt collateralized loan obligations from Volcker Rule restrictions, managers of these deals have found another workaround and this one allows them to invest in bonds.
February 13, 2014 – Senate Banking Committee leaders are expected to soon unveil their highly anticipated bipartisan bill to overhaul the mortgage finance market as the window for moving legislation this year continues to narrow
February 11, 2014 – By halting Ocwen Financial's deal to buy a mortgage servicing portfolio from Wells Fargo, New York regulator Benjamin Lawsky has called into question the servicer's ambitious growth plans.
February 7, 2014 – Canada's covered bond market restarts, slowly, under a new legislative framework.
February 6, 2014 – Demand for catastrophe bonds and other insurance-linked securities far outstrips supply, resulting in lower yields, more issuer-friendly terms and a wider tolerance for unrated deals.
February 5, 2014 – Most new collateralized loan obligations have the ability to invest in bonds, but only if regulators clarify certain Volcker Rule language.
February 5, 2014 – Lessons learned from the prior two recessions have resulted in quality and performance improvements in equipment ABS that will help the asset class weather future economic downturns, according to Fitch Ratings.
January 24, 2014 – Global trade hit $18 trillion in 2012 and regulations are giving banks a big incentive to offload trade finance facilities. These two facts point to colossal prospects for this asset class. But the deals remain a deeply labor-intensive exercise.
January 23, 2014 – Pooling the cash flows of many operators into conduit transactions could be the next big thing in a fledgling asset class. But there are big challenges to assessing risk in deals where operators might have one or two homes each.
January 23, 2014 – Three hot new asset classes discussed at the ABS Vegas conference arent all that new: property assessed clean energy loans, rental properties, and solar panel leases
January 23, 2014 – Guggenheims Steven Levy, for one, has a weakness for Trups-backed CDOs, while James Grady from Deutsche Asset & Wealth Management and Gagan Singh from PNC like CLOs.
January 23, 2014 – The Securities and Exchange Commission is likely to issue the long-awaited final ruling of Regulation AB II at an open meeting in February, according to former Chairman Christopher Cox
January 22, 2014 – Michael Stegman, a counselor to the Treasury Secretary on housing finance, said the GSEs' recent profitability was misleading and does not lessen the need for housing finance reform.
January 23, 2014 – Participants at an ABS Vegas 2014 panel struggled to explain how private label RMBS could become relevant to a broader range of U.S. consumers, although they took pains to sound optimistic.
January 22, 2014 – GM Financial is taking advantage of the resulting spread compression to start securitization leases (both prime and subprime) and dealer inventory financing.
January 10, 2014 – How peer-to-peer lending could ripple through securitization of consumer and corporate debt.
January 8, 2014 – The trade group penned an emphatic comment letter against Finra's proposal to disseminate pricing data for asset-backeds. The main argument? Loss of liquidity.
January 7, 2014 – Most sectors are relatively unscathed but that's cold comfort to banks that will likely have to unload CLOs and Trup CDOs at steep losses.
December 31, 2013 – Underwriting may be getting sloppy, but the market for commerical mortgage bonds appears headed for another year of issuance growth and declining delinquencies.
December 30, 2013 – First-time collateralized loan obligation managers entered the game in droves in 2013, and participants expect the trend to continue in 2014, even if risk-retention regulation makes it difficult for smaller firms to keep playing.
December 23, 2013 – Banks could end up holding more home loans on their balance sheets next year instead of selling them to Fannie Mae and Freddie Mac, the result of fee increases that are designed to increase the role of private capital in the mortgage market.
December 20, 2013 – Although Ocwen Financial agreed to pay more than $2 billion to settle allegations it mishandled foreclosures and mortgages for thousands of borrowers, it could have been even worse for the country's largest nonbank servicer.
December 13, 2013 – The final version allows banks to own and lend money to collateralized loan obligations backed exclusively by loans, though they may have to sell holdings of deals backed by bonds or other securities.
December 4, 2013 – How investors are still finding ways to play an asset class with a limited life span.
December 4, 2013 – Overall issuance growth will moderate in 2014, Fitch Ratings' managing director for asset backed securities says in the firm's outlook.
December 4, 2013 – The limited number of buyers able to write big tickets allows them players to dictate terms.
Housing boom-era mortage bonds, written off as toxic waste during the financial crisis, are performing better than expected.Current Issue