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Latest News

Citi, RBS, JPMorgan Shopping CLOs

– Morgan Stanley isn’t the only bank marketing a CLO this week; its competitors are shopping at least four other deals.

NY Senate Leaders Raise MBIA Investigation Possibility

– Two NY Senate Committee chairmen have raised the possibility of investigating MBIA’s behavior in applying for the company's transformation in 2008 and 2009.

Deutsche Largest Unsecured Creditor in ResCap Filing

– When ResCap filed for bankruptcy protection it left behind a trail of unsecured creditors with claims totaling well over $1 billion.

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Featured Articles

Lower Credit Card Delinquencies in April

– Deliquencies for bankcards were lower or stable in April for six major issuers.

Moody's: SF Credit Deterioration in Banks Varies with Exposure

– Moody's is expecting to take rating actions and to review the implementation of protection mechanisms in these financial institutions.

MBA: Delinquencies Continue to Fall, Late Payments at 7.4%

– Mortgage delinquencies continued on their downward path in the first quarter with 7.4% of all loans considered past due.

Refi Activity Jumps on New Lows in Mortgage Rates

– The MBA reported a 13% surge in the Refinance Index. The gain in refinancing activity was due to new record lows in mortgage rates.

MBIA Judge: A Trial of Law Rather Than Facts

– The judge made clear she wanted the proceedings on the MBIA transformation to focus on legal rather than factual issues.

Case Could Fuel Further Foreclosure Delays

– The Fourth Circuit Court of Appeals broke ranks with other courts in ruling on a borrower’s right to rescind and void a mortgage contract.

Fitch Lowers Rating on WaMu Covered Bonds

– Fitch Ratings has lowered Washington Mutual Covered Bond Program's outstanding €4 billion mortgage covered bonds to 'AA-' from 'AA'.

Chapter II Positive for ResCap MBS Holders, Analysts Say

– The bankruptcy filing is an overall positive for holders of MBS issued by ResCap subsidiaries, Barclays analysts stated.

Ally Throws ResCap into Bankruptcy, Sale to Nationstar Pending

– The filing will permit ResCap to continue originating new mortgages and servicing its $380 billion portfolio.

Assured Guaranty Posts Small Profit in 1Q12

– Assured Guaranty posted a small profit for the first quarter of 2012 and on Thursday announced a deal with Deutsche Bank over soured MBS.

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SFN People Database

Exclusive data on top players in capital markets

Ron D'Vari

Chief Executive Officer and Co-Founder

Firm: New Oak Capital

In the news: HY Market: There’s No Time Like the Present

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Open Conflict

What's really notable is how rarely rating agencies give differing opinions on deals, despite rules adopted by the SEC more than two years ago

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