May 23, 2013 – Credipar, a subsidiary of Banque PSA Finance, plans to issue the first investor-placed French auto ABS of the year, the 470 million AUTO ABS FCT Compartiment 2013-2.
May 23, 2013 – Citibank plans to issue a follow up to its early May issue according to a deal prospectus filed with US Securities and Exchange Commission yesterday.
May 23, 2013 – Ally Financial agreed to pay $2.1 billion to unsecured creditors of its bankrupt mortgage unit, Residential Capital, including securitization trusts.
May 22, 2013 – FeatherStone Investment Group is working on its first securitization of rental income; the deal should be completed in the next 90 to 120 days.
May 22, 2013 – An $8.7 billion sale by a European bank is set to test market appetite for non-agency residental mortgage-backed securities.
May 17, 2013 – Loan extensions create risks for investors in older European collateralized loan obligations.
May 6, 2013 – A number of community banks are discovering that bulking up on student loans is easier said than done.
May 1, 2013 – Deal economics are improving, trumping regulatory challenges and a shortage of collateral
May 1, 2013 – The first three European CLOs to price since the financial crisis were structured to ease investor worries, and their successively tighter spreads suggest thats happening.
May 1, 2013 – Until recently private student loans were the laggards in the recovery of the U.S. securitization market, but demand is picking up.
May 1, 2013 – Deals issued pre-crisis are past their most perilous years but structural flaws could still prove hazardous for investors.
May 1, 2013 – As new deal volume in the private label RMBS market continues to ramp up, so do questions from investors about how these deals will evolve over time.
May 1, 2013 – Theres been plenty of talk about using securitization to finance solar energy, but to date, no deals; the Department of Energys National Renewable Energy Laborator wants to jumpstart the process
April 26, 2013 – Corporate borrowers continue to take advantage of strong demand for loans to re-price existing debt, and this is putting a squeeze on some of the biggest buyers of loanscollateralized loan obligations.
March 28, 2013 – As banks exit mortgage servicing, new players are turning to securitization to fund advances.
March 28, 2013 – With consumer spending on the rise and investors warming to more esoteric assets, timeshare operators are increasingly turning to the securitization market to finance loans.
March 28, 2013 – Buyers of private-label mortgage backed securities still have a beef with the federal mortgage modification plan, which allows holders of a second-lien on distressed properties to jump ahead of first-lien holders in terms of payment priority.
March 28, 2013 – 'I think this could serve as a building block for Congress to realize a future mortgage market,' Federal Housing Finance Agency Acting Director Edward DeMarco told lawmakers.
March 28, 2013 – By tweaking one aspect of its methodology for rating securitizations, Moodys Investors Service has set the stage for more downgrades of deals issued out of peripheral Eurozone countries.
March 15, 2013 – Banks are expected to start buying riskier portions of collateralized loan obligations in response to a deposit-insurance rule change that takes effect next month.
February 27, 2013 – How long until looser underwriting affects the performance of auto securitizations?
February 27, 2013 – Investors are signing on to auto loan securitizations that allow sponsors to add new, and potentially riskier, loans at a later date.
February 27, 2013 – Strong payment structures and high credit enhancement levels will mitigate the impact of less conservative underwriting on subprime auto loan securitizations.
February 27, 2013 – Ratings agencies have received a number of proposals for private-label residential mortgage backed securities (RMBS) and they apparently do not like what they see.
February 27, 2013 – Spreads in the primary market have tightened so much that equity holders are calling collateralized loan obligations issued as recently as 2011 in order to fund new deals more cheaply.
February 27, 2013 – Lease securitization has the potential to plug a yawning financing gap for non-U.S. airlines.
February 27, 2013 – Five new originators of Russian RMBS debuted last year; players say the issuer stable will keep growing.
February 27, 2013 – After contracting sharply last year amid regulatory uncertainty and an economic slowdown, Brazils structured finance market now appears to be poised for a recovery.
February 20, 2013 – Social Finance, a non-bank lender, is looking to upend student lending by offering more favorable rates to borrowers it views as most likely to repay their loans.
February 15, 2013 – Private student lending is enjoying something of a recovery, and it appears to have a lot to do with the improving market for college graduates.
February 1, 2013 – There's an ongoing discussion about what structural features should be re-thought to attract junior investors to film securitizations.
February 1, 2013 – REO to rental has come a long way in the past year, but it is still not clear what role securitization will play.
February 4, 2013 – Spreads on subprime auto ABS and the subordinated tranches of prime auto ABS continued to outperform in January.
February 1, 2013 – The Basel Committees decision to allow banks to include highly rated residential mortgage bonds into the calculation of a new liquidity coverage ratio is good news, at least for European banks.
February 1, 2013 – Spreads on asset-backed securities narrowed sharply across the board in 2012, but some sectors are already looking rich, according to participants at the ASF 2013 conference.
February 4, 2013 – The securitization investor class of 2013 is likely to be the most geographically diverse group since before the onset of the financial crisis.
January 24, 2013 – The banking industry's positive reaction to the Consumer Financial Protection Bureaus 'qualified mortgage' rule, which governs mortgage underwriting, is prompting cautious optimism that a related securitization rule may also turn out better than expected.
January 23, 2013 – Theres no easy way to get a high rating on an REO-to-rental securitization. But a strong sponsor helps, according to Moody's Investors Service.
January 7, 2013 – The private-label mortgage-backed securities market can make more of a comeback this year due to factors like the agencies rising guarantee fees, scarcity of higher-yielding assets for investment and home price appreciation.
January 2, 2013 – The much-maligned collateralized debt obligation appears to be set to play a crucial role in the recapitalization of commercial real estate. Only no-one is calling these deals CDOs.
January 2, 2013 – Securitization of very large commercial loans, a hallmark of the CMBS market before the financial crisis, is making a comeback -- but with a twist.
January 2, 2013 – Experience isn the only thing that sets managers of collateralized loan obligations apart; according to Scott DOrsi, a partner with Feingold OKeeffe Capital, it's also a matter of investment style.
January 2, 2013 – Policymakers appear unwilling to take on the future of Fannie Mae and Freddie Mac as they face other issues and the housing market begins to recover.
December 20, 2012 – Quantitative easing, particularly the Federal Reserves ongoing effort to buy mortgage-backed securities, has frustrated smaller banks that are also in the market for such assets.
December 7, 2012 – The housing market finally appears to be on the mend, but the shadow inventory of housing that is unoccupied but has not yet been released into the market, either as a rental property or sale listing bears watching.
December 7, 2012 – An increase in new builds in the multifamily sector in recent months has raised some concerns that the market may face supply risk down the line; but CMBS industry analysts said its probably premature to suggest that the sector is headed towards a bubble.
October 29, 2012 – Bank of America Merrill Lynch said in a report on Friday that half of all outstanding CMBS conduit loans set to mature over the next five years would be able to refinance successfully.
October 28, 2012 – Bank of America Merrill Lynch analysts maintain their positive view on student loan ABS given recent reports showing trends that can reduce headline risk in the sector.
October 28, 2012 – Citigroup Global Markets analysts said that they expect a spurt of regulatory activity after the Nov. 6 presidential elections.
October 25, 2012 – Subprime lending in the auto sector, which has been driven in part by rising used-vehicle sales, has continued to rise, S&P said in a short note this morning.
October 23, 2012 – More and more investors are taking a gander at the riskiest tranches of collateralized loan obligations, and they like what they see.
October 23, 2012 – In Europe, efforts by out-of-money investors has thwarted recovery efforts by senior bondholders in troubled CMBS deals, according to a Fitch Ratings report published today.
October 23, 2012 – Despite being the ABS market's current darling, a speaker at ABS East saw a potential bubble forming in the subprime auto segment.
October 23, 2012 – Speakers harped on two topics in particular: the qualified residential mortgage rule and what they see as the unfair advantage that Fannie Mae and Freddie Mac still enjoy over the private-label RMBS market.
October 23, 2012 – The fiscal cliff being faced by our government at the end of the year is probably the most chilling macro-economic risk, ABS East panelists said.
October 23, 2012 – While the recovery of the housing market is on firm footing, house prices in aggregate are unlikely to rise quickly, participants say.
October 22, 2012 – Securitization isn't typically associated with environmentally or socially responsible investing, but speakers at one panel of IMN's ABS East conference are confident the industry will come around to this field's potential.
October 22, 2012 – European securitizations are likely to face more stringent capital requirements as the Basel Committee examines how these transactions are regulated.
Managing Director, Structured Finance
Firm: Goldman Sachs
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Deal economics are improving, trumping regulatory challenges and a shortage of collateralCurrent Issue