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ABS

Expiring Govt. Programs to Result in Higher RMBS Losses, Fitch Says

March 12, 2010 - Loss severities on distressed RMBS loanswill probably increase this year as several key government support programs expire, Fitch Ratings said in a report.

FDIC Extends Asset Safe Harbor

March 12, 2010 - The FDIC extended its temporary protection for securitized assets from failed-bank seizures to Sept. 30.

KKR Revamps Asset Management Debt Team

March 11, 2010 - KKR has promoted four professionals in its asset management department.

Altrius Capital to Pursue Institutional Investors

March 11, 2010 - Altrius Capital Management launched an institutional investing division and hired MBS veteran Gian Russo.

Dodd to Introduce His Own Reform Bill

March 11, 2010 - Chris Dodd announced today that he plans to introduce a bill next week on his own with the goal of pushing it through the committee along party lines if necessary before the Easter recess.

Jackson Joins Wells Fargo to Trade Specified Pools

March 11, 2010 - Kevin Jackson's arrival will bolster the RMBS effort at Wells Fargo Securities.

Connecticut AG Sues Ratings Agencies

March 11, 2010 - Richard Blumenthal has filed suit against Moody’s and S&P for allegedly enabling the “worst economic downturn in the nation since The Great Depression.”

Markit Set to Launch Index Tracking Agency RMBS

March 11, 2010 - The new release is a synthetic total return swap index that will be referencing the interest component of 30-year fixed-rate Fannie Mae RMBS pools.

Subprime Prices Increase Over 6%, Fitch Solutions Says

March 11, 2010 - Subprime RMBS prices in the U.S. reversed course this past month, with most vintages rising in value.

Freddie Mac Reports Slightly Lower Mortgage Rates

March 11, 2010 - Freddie Mac reported further easing in mortgage rates in the week ending March 11.

Barney Frank Pushes for Second Lien Principal Forgiveness

March 11, 2010 - Barney Frank's call for banks to forgive principal on second liens was music to the ears of mortgage bond investors who have been pushing the idea for about a year.

Geithner: We'll Get to GSE Overhaul

March 11, 2010 - Secretary Geithner defended the administration's decision not to outline a plan for the future of Fannie and Freddie until 2011.

TARP Watchdog: Treasury Should've Went BK with GMAC

March 11, 2010 - A scathing report by a Congressional watchdog examining the bailout of GMAC found that the Treasury Department did not adequately protect taxpayer money.

Timeshare Deal in the Market

March 10, 2010 - Sierra Receivables is in the market with a timeshare-backed transaction.

FDIC Prices Second Note Offering

March 10, 2010 - The FDIC sold $1.37 billion of structured guaranteed notes backed by residential and construction loan assets from Corus Bank.