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      <title>Latest News Current Issue</title>
      <link>http://www.structuredfinancenews.com/news/index.html</link>
      <description></description>
      <language>en-us</language>
      <copyright>Copyright 2008 Structured Finance News. All rights Reserved.</copyright>
<managingEditor>editor@structuredfinancenews.com</managingEditor>
      <webMaster>webmaster@iproduction.com</webMaster>
      <pubDate>Fri, 05 Sep 2008 18:58:44 EDT</pubDate>
      <lastBuildDate>Fri, 05 Sep 2008 18:58:44 EDT</lastBuildDate>
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      <item>
         <title><![CDATA[MBA Q2 Delinquency Report Shows Worsening in Prime Sector]]></title>
         <description><![CDATA[The MBA quarterly National Delinquency Survey reported the delinquency rate for mortgage loans on one to four unit residential properties was 6.41% of all loans outstanding as of the end of 2Q08.  ]]></description>
         <link>http://www.structuredfinancenews.com/news/185293-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[ECB Changes Its Policy for Using Its Repo Facility]]></title>
         <description><![CDATA[The ECB said that it no longer intends to accept ABS collateral for its repo operation if it is not backed by a liquidity facility that is worth at the minimum 20% of the deal's nominal value.]]></description>
         <link>http://www.structuredfinancenews.com/news/185294-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Moody's Publishes Outlook of EMEA Regions]]></title>
         <description><![CDATA[Over the next 12 to 18 months, the EMEA region can expect stable and negative performance of its major structured finance asset classes.]]></description>
         <link>http://www.structuredfinancenews.com/news/185185-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[SIFMA Suggests SEC Focus to Improve Ratings Process]]></title>
         <description><![CDATA[The SIFMA cautioned against proposals to remove references to credit ratings in regulations that the SEC issued with the intention of avoiding overreliance on credit ratings and promoting independent analysis.  ]]></description>
         <link>http://www.structuredfinancenews.com/news/185187-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[HSBC France Launches Covered-Bond Program ]]></title>
         <description><![CDATA[HSBC France, Paris, has launched an 8 billion euro ($11.6 billion) covered-bond program under French law.]]></description>
         <link>http://www.structuredfinancenews.com/news/185194-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Ranieri Sheds Interim CEO Post ]]></title>
         <description><![CDATA[Lewis Ranieri has stepped down as interim chief executive of the struggling Franklin Bank Corp. of Texas.]]></description>
         <link>http://www.structuredfinancenews.com/news/185195-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Bingham McCutchen Further Boosts Staff]]></title>
         <description><![CDATA[Bingham McCutchen has hired Kenneth A. Kopelman, former head of Bear Stearns fixed-income and derivatives legal groups, as partner. ]]></description>
         <link>http://www.structuredfinancenews.com/news/185158-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Piper Jaffray &amp; Co. Expands its Aircraft Finance Team]]></title>
         <description><![CDATA[The new additions to the team include Doug Runte, Scott Sodokoff, Dan Reese and John Covello. ]]></description>
         <link>http://www.structuredfinancenews.com/news/185161-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[ResCap to Reduce Its Workforce]]></title>
         <description><![CDATA[Various intiatives will reduce ResCap's workforce by roughly 5,000 employees.]]></description>
         <link>http://www.structuredfinancenews.com/news/185179-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Merrill Hires Global Heads of Securitized Products and Mortgage Trading ]]></title>
         <description><![CDATA[Merrill Lynch hired Michael Nierenberg from JPMorgan to head global mortgages and securitized products businesses.]]></description>
         <link>http://www.structuredfinancenews.com/news/185132-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[U.K. Mortgage Lending Continues to be Challenged ]]></title>
         <description><![CDATA[The number of mortgages approved in the U.K. in July 2008 fell by 71% year over year. ]]></description>
         <link>http://www.structuredfinancenews.com/news/185134-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Fitch Warns of a Dramatic Rise in Option ARM Defaults ]]></title>
         <description><![CDATA[A Fitch Ratings report on the outlook for increasing delinquencies in option ARMs resulting from recasts was released today. ]]></description>
         <link>http://www.structuredfinancenews.com/news/185137-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[CIFG Commutes $12 Billion in Structured Exposure ]]></title>
         <description><![CDATA[CIFG Holding today announced that its financial guaranty subsidiaries have reached agreements to commute approximately $12 billion in structured finance exposures. ]]></description>
         <link>http://www.structuredfinancenews.com/news/185139-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Allen &amp; Overy Launches Product Addressing Documentation Risk]]></title>
         <description><![CDATA[Allen &amp; Overy and docGenix launched docGenix, an independent firm offering innovative services to give financial institutions the ability to manage documentation risk. ]]></description>
         <link>http://www.structuredfinancenews.com/news/185142-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Andrews Kurth Forms Covered Bonds Practice Group ]]></title>
         <description><![CDATA[Andrews Kurth formed a covered bonds practice group to meet demands of changing the capital markets.]]></description>
         <link>http://www.structuredfinancenews.com/news/185144-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[D.E. Shaw Forms New ABS Group]]></title>
         <description><![CDATA[The D. E. Shaw Group recently tapped Richard McKinney as a managing director to oversee the firm's newly formed ABS unit. ]]></description>
         <link>http://www.structuredfinancenews.com/news/185159-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[SLM Corp. On Review for Downgrade]]></title>
         <description><![CDATA[Moody's Investors Service has placed the ratings of SLM Corp. under review for possible downgrade...]]></description>
         <link>http://www.structuredfinancenews.com/news/185071-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Popular Sells off Mortgage Unit to Goldman]]></title>
         <description><![CDATA[Popular, announced an agreement today to sell the loan and servicing assets of its U.S. mortgage subsidiary, Popular Financial Holdings...]]></description>
         <link>http://www.structuredfinancenews.com/news/185072-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Fixed Mortgage Rates Dip, Adjustables Higher]]></title>
         <description><![CDATA[Freddie Mac reported a seven basis points decline in 30- and 15-year fixed mortgage rates.]]></description>
         <link>http://www.structuredfinancenews.com/news/185056-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[MBIA to Reinsure $184B of FGIC's U.S. Public Finance Book]]></title>
         <description><![CDATA[MBIA will reinsure $184 billion worth of Financial Guaranty Insurance Corp.'s U.S. public finance book.]]></description>
         <link>http://www.structuredfinancenews.com/news/185057-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Fannie Reports Management Shakeup]]></title>
         <description><![CDATA[A management shakeup at Fannie Mae has placed Peter Niculescu in charge of the single-family business and capital markets and named David Hisey, the new chief financial officer. ]]></description>
         <link>http://www.structuredfinancenews.com/news/185059-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[MoFo Adds Partner to Office in China]]></title>
         <description><![CDATA[Morrison &amp; Foerster has hired Stephen Birkett as a partner in its corporate group in Hong Kong. ]]></description>
         <link>http://www.structuredfinancenews.com/news/185060-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[RBS Taps MBS Team from Bear]]></title>
         <description><![CDATA[The Royal Bank of Scotland has added 16 new members to its mortgage-backed securities group, 15 of which are from Bear Stearns...]]></description>
         <link>http://www.structuredfinancenews.com/news/185061-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Mortgage Application Activity Sees Small Gain ]]></title>
         <description><![CDATA[Mortgage application activity increased just .5% in the week ending Aug. 22, with small gains made in both refinancings and purchasings.]]></description>
         <link>http://www.structuredfinancenews.com/news/185033-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Pimco Wants To Put $5B To Work In Distressed Debt ]]></title>
         <description><![CDATA[The new fund will target commercial and residential loans that don't necessarily carry explicit government guarantees.]]></description>
         <link>http://www.structuredfinancenews.com/news/185034-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[GSEs Exit Subprime Lending in New York]]></title>
         <description><![CDATA[Mortgage lenders in the state will need to change their origination systems to reflect the change.]]></description>
         <link>http://www.structuredfinancenews.com/news/185036-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[MBA Appoints Chief Economist]]></title>
         <description><![CDATA[The Mortgage Bankers Association appointed Jay Brinkmann as its chief economist and senior vice president for research and economics. ]]></description>
         <link>http://www.structuredfinancenews.com/news/185038-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[DLA Piper Adds to Finance Practice]]></title>
         <description><![CDATA[DLA Piper announced that eight partners will be joining the Corporate and Finance Practice in New York and London... ]]></description>
         <link>http://www.structuredfinancenews.com/news/185002-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Brooke Capital Halts Services for Troubled Borrowers]]></title>
         <description><![CDATA[Brooke Capital Corp., an insurance agency franchisor and loan consultant, announced that, for certain securitization trusts, it will discontinue providing services...]]></description>
         <link>http://www.structuredfinancenews.com/news/185006-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[60+ Delinquencies Continue to Rise, Although Slightly Slower]]></title>
         <description><![CDATA[The rise in delinquencies for the ABX indices was not surprising based on the roll rates and the 30-59 and 60-89 day delinquency pipelines.]]></description>
         <link>http://www.structuredfinancenews.com/news/185007-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[OFHEO Reports 5.44% Q2 Annualized Decline in Home Prices]]></title>
         <description><![CDATA[The OFHEO reported home prices based on their seasonally-adjusted purchase-only index declined in the second quarter. ]]></description>
         <link>http://www.structuredfinancenews.com/news/185010-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Guy Carpenter Hires Head of Global Structuring]]></title>
         <description><![CDATA[Guy Carpenter Co. has hired  Cory Anger as head of global structuring for GC Securities.]]></description>
         <link>http://www.structuredfinancenews.com/news/185011-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[GSEs Report Slower Growth in July in Retained Portfolios]]></title>
         <description><![CDATA[Freddie Mac's retained portfolio increased just $6 billion.]]></description>
         <link>http://www.structuredfinancenews.com/news/185012-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Fitch Introduces New Loss Analysis for Monitoring SF CDOs ]]></title>
         <description><![CDATA[Fitch Ratings presents its asset-level projected loss analysis (PLA) to quantify loss expectations on structured finance (SF) CDOs. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184979-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Barclays: IndyMac Loan Modification Plan Might Have Widespread Bond Holder Impact]]></title>
         <description><![CDATA[FDIC's Indymac systemic loan modification plan could have a widespread impact on bond holders, according to a recent report from Barclays Capital.]]></description>
         <link>http://www.structuredfinancenews.com/news/184983-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Citi To Reorganize Cap Markets Division]]></title>
         <description><![CDATA[Pandit's MO is becoming apparent. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184984-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Former Sallie Mae Officials Form New Student Loan Firm]]></title>
         <description><![CDATA[Three senior vice presidents in Sallie Mae's corporate finance departmenthave formed their new company called Education Investment Group. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184990-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[July Existing Home Sales Bounce Back]]></title>
         <description><![CDATA[The National Association of Realtors said that existing home sales bounced back to 5 million units annualized in July.]]></description>
         <link>http://www.structuredfinancenews.com/news/184992-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Prices Have Dropped In Distressed MBS, Merrill Says]]></title>
         <description><![CDATA[Recent selling has pushed many non-agency MBS yields, particularly in subprime and option ARM, to acceptable and even attractive levels.]]></description>
         <link>http://www.structuredfinancenews.com/news/184935-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Market Misprices Defeased CMBS]]></title>
         <description><![CDATA[The market is grossly mispricing heavily defeased CMBS, Barclays Capital analysts said in a recent report.]]></description>
         <link>http://www.structuredfinancenews.com/news/184936-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Moody's Downgrades Fannie and Freddie ]]></title>
         <description><![CDATA[Moody's Investors Service slashed the preferred stock ratings of Fannie Mae and Freddie Mac to 'Baa3' from 'A1'.]]></description>
         <link>http://www.structuredfinancenews.com/news/184953-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Paese Joins SIFMA as Executive VP, Global Advocacy]]></title>
         <description><![CDATA[The SIFMA appointed Michael Paese as executive vice president, global advocacy, with responsibility for association's global legal, governmental, and legislative affairs and advocacy initiatives. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184928-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[DebtX to Sell Nonperforming Residential Loans]]></title>
         <description><![CDATA[DebtX sold more than $292 million in nonperforming residential real estate loans.  ]]></description>
         <link>http://www.structuredfinancenews.com/news/184929-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Fixed Mortgage Rates Move Slightly Lower]]></title>
         <description><![CDATA[Mortgage rates were mostly lower this week, according to Freddie Mac's weekly survey. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184931-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[S&amp;P Lowers 49 Ratings on 11 U.S. CDOs of ABS]]></title>
         <description><![CDATA[Because of the downgrades, $4.441 billion in issuance affected.]]></description>
         <link>http://www.structuredfinancenews.com/news/184937-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Mortgage and Securitization Heads Leave Lehman, Reports Say]]></title>
         <description><![CDATA[Lehman Brothers heads of mortgage origination and securitization are leaving the firm.]]></description>
         <link>http://www.structuredfinancenews.com/news/184942-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Baker &amp; McKenzie Advises Citi to Buy $30 Mln Microenterprise Loans]]></title>
         <description><![CDATA[Baker &amp; McKenzie advised Citi Microfinance on its five year contract with AT Microloans I.]]></description>
         <link>http://www.structuredfinancenews.com/news/184949-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Mayer Brown Advises on ABN Covered Bond Program]]></title>
         <description><![CDATA[Mayer Brown announced this morning that it has advised ABN AMRO, as arranger for CIBC, on the establishment of an €8 billion Global Public Sector Covered Bond Program...]]></description>
         <link>http://www.structuredfinancenews.com/news/184905-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Delinquencies Rise for U.S. Equipment Leases]]></title>
         <description><![CDATA[Delinquencies for both small/mid-ticket and heavy metal U.S. equipment lease ABS portfolios continue to trend upward in 2008...]]></description>
         <link>http://www.structuredfinancenews.com/news/184906-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Amherst Securities Taps Zeller to Head Agency Products]]></title>
         <description><![CDATA[Amherst Securities Group, a broker-dealer specializing in RMBS, tapped Laurie Zeller as senior managing director of trading...]]></description>
         <link>http://www.structuredfinancenews.com/news/184911-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[U.K. Nonconforming Reserve Funds Continue to Draw, Fitch Says]]></title>
         <description><![CDATA[In an updated report, Fitch Ratings said that the continued drawing of reserve funds from U.K. nonconforming RMBS is a reflection of the pressure being placed on this sector...]]></description>
         <link>http://www.structuredfinancenews.com/news/184886-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Cadwalader Announces Covered Bond Group]]></title>
         <description><![CDATA[Cadwalader, Wickersham &amp; Taft announced the formation of a global Covered Bonds practice group...]]></description>
         <link>http://www.structuredfinancenews.com/news/184891-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Increasing Ginnie Issuance Offers Liquidity Benefit]]></title>
         <description><![CDATA[The disruption in the housing and credit markets has resulted in an increase in FHA mortgage lending...]]></description>
         <link>http://www.structuredfinancenews.com/news/184893-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[U.S. CMBS Delinquencies Rise Slightly in July, Fitch Says ]]></title>
         <description><![CDATA[U.S. CMBS delinquencies rose two basis points in July, ending the month at 0.43%, as reported by the Fitch Ratings Loan Delinquency Index. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184852-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[First Marblehead Completes Cash Investment, Names New CEO]]></title>
         <description><![CDATA[Student lender First Marblehead Corp. said Goldman Sachs completed a $132.7 cash investment in the company.]]></description>
         <link>http://www.structuredfinancenews.com/news/184854-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Cap One's Credit Picture is Mixed]]></title>
         <description><![CDATA[Capital One Financial Corp. disclosed Friday that loan-loss ratios for credit cards improved in July from the second quarter but that delinquencies continued to rise.]]></description>
         <link>http://www.structuredfinancenews.com/news/184855-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Wachovia to Buy Back $8.8 Billion of ARS]]></title>
         <description><![CDATA[Wachovia Corp. will buy back more than $8.5 billion of auction-rate securities as part of an agreement to end investigations by state regulators into the marketing of the complex securities.]]></description>
         <link>http://www.structuredfinancenews.com/news/184858-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Ginnie Sees Further Rise in FHA Jumbos]]></title>
         <description><![CDATA[Production of Federal Housing Administration jumbo mortgages continues to ramp up.]]></description>
         <link>http://www.structuredfinancenews.com/news/184861-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[GSI Acquires ARGYLE Solutions]]></title>
         <description><![CDATA[GSI Securitization acquired ARGYLE Solutions, which is a technology-driven healthcare revenue cycle management firm.]]></description>
         <link>http://www.structuredfinancenews.com/news/184874-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[The FHLBs Doing Their Part in Absorbing MBS Supply]]></title>
         <description><![CDATA[The FHLBs' agency portfolio growth has remained strong. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184878-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[JPMorgan, Morgan Stanley Agree to Settle]]></title>
         <description><![CDATA[JPMorgan Chase &amp; Co. and Morgan Stanley yesterday became the latest firms to reach auction-rate securities settlements with New York State Attorney General Andrew Cuomo.]]></description>
         <link>http://www.structuredfinancenews.com/news/184737-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[S&amp;P Affirms AA on MBIA, Ambac; Both on Negative Outlook ]]></title>
         <description><![CDATA[Standard &amp; Poor's Thursday affirmed its double-A ratings on bond insurers MBIA Insurance Corp. and Ambac Assurance Corp. and removed their ratings from CreditWatch negative. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184739-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[A Wachovia Unit Seeking Protection]]></title>
         <description><![CDATA[A Wachovia Corp. unit that sold insurance to protect against defaults on MBS is being liquidated in Bermuda.]]></description>
         <link>http://www.structuredfinancenews.com/news/184747-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Wachovia to Redeem $9 Billion in ARS Settlement]]></title>
         <description><![CDATA[Wachovia Securities and Wachovia Capital Markets would buy back or provide liquidity for up to $9 billion of auction rate securities.]]></description>
         <link>http://www.structuredfinancenews.com/news/184823-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[NovaStar Buys Big Stake in Appraisal Firm ]]></title>
         <description><![CDATA[NovaStar Financial, Kansas City, Mo., has acquired a majority interest in PipeFire, a residential appraisal management firm headquartered in Indianapolis. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184825-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Hanover Capital Incurs 2Q Loss ]]></title>
         <description><![CDATA[Hanover Capital Mortgage Holdings, a New York-based REIT, has reported a net loss of $22.9 million ($2.66 per share) for the second quarter. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184826-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Block Realign 'Complete,' Thrift Intact]]></title>
         <description><![CDATA[H&amp;R Block said its deal to sell its financial adviser unit to Ameriprise Financial  would complete a restructuring of the tax preparation company, signaling that it plans to keep its thrift — for now.]]></description>
         <link>http://www.structuredfinancenews.com/news/184711-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[SIFMA Designates Pools Containing Higher Balance Loans as TBA-Eligible]]></title>
         <description><![CDATA[The SIFMA said that newly originated loans to borrowers in high cost areas as defined in the Housing and Economic Recovery Act of 2008 will qualify for incorporation into TBA eligible MBS. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184713-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Moody's Downgrades SN Servicing Corp.'s SQ Ratings]]></title>
         <description><![CDATA[Moody's Investors Service has downgraded the servicer quality ratings of SN Servicing Corp. to 'SQ3-' from 'SQ3+'as a primary servicer of subprime loans and 'SQ3' from 'SQ2-' as a special servicer. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184714-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[RealtyTrac Reports Foreclosures Up 8% in July]]></title>
         <description><![CDATA[RealtyTrac reported foreclosures in July rose 8% from June to 272,171 U.S. properties. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184718-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Freddie Mac Reports Flat to Slightly Lower Mortgage Rates]]></title>
         <description><![CDATA[The 30-year fixed mortgage rate held steady at 6.52% for the third week in a row. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184719-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Jones Lang LaSalle Promotes Execs]]></title>
         <description><![CDATA[Jones Lang LaSallehas promoted four executives in its capital markets group. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184726-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[The PMI Group Sells Australian Operations ]]></title>
         <description><![CDATA[The PMI Group entered into a definitive agreement to sell its Australian mortgage insurance subsidiary.]]></description>
         <link>http://www.structuredfinancenews.com/news/184727-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Fitch Cuts Classes Of 43 CDOs]]></title>
         <description><![CDATA[Fitch Ratings said that certain classes of notes issued across 43 CDOs backed all or in part by trust preferred securities issued by banks are on Rating Watch Negative. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184731-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[JPM Chase 3Q MBS Losses at $1.5B]]></title>
         <description><![CDATA[JPMorgan Chase has had losses of $1.5 billion on MBS assets so far this quarter.]]></description>
         <link>http://www.structuredfinancenews.com/news/184674-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Wachovia Reports Widening of 2Q Loss]]></title>
         <description><![CDATA[Wachovia Corp.'s net loss in the second quarter widened to $9.11 billion after the Charlotte company increased its legal reserves by $500 million.]]></description>
         <link>http://www.structuredfinancenews.com/news/184675-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[FSA Fines Credit Suisse £5.6 Mln]]></title>
         <description><![CDATA[The breaches are related to the pricing of certain ABS held by the structured credit group within the bank's investment banking division. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184676-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Katten Forms Covered Bond Team ]]></title>
         <description><![CDATA[Katten Muchin Rosenman  has formed a covered bond team within its structured finance and securitization group. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184680-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Cuomo Rejects Morgan Stanley's ARS Buy-Back Plan; Lack of Fines at Issue]]></title>
         <description><![CDATA[Morgan Stanley late Monday became the fourth major securities firm to propose a buy-back of auction-rate securities from retail investors.]]></description>
         <link>http://www.structuredfinancenews.com/news/184681-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Syncora Holdings Seeks to Drop $52.9B in CDS Exposures]]></title>
         <description><![CDATA[Syncora Holdings  said yesterday its discussions with banks to commute $52.9 billion in CDS exposures highlight its second phase of restructuring.]]></description>
         <link>http://www.structuredfinancenews.com/news/184682-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Three Large Lenders Out of FFELP]]></title>
         <description><![CDATA[Nonprofits unable to secure bridge loans.]]></description>
         <link>http://www.structuredfinancenews.com/news/184685-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[New Islamic Deal Comes from Japan]]></title>
         <description><![CDATA[The Shariah-compliant investment management firm Japan Islamic Finance said it plans to sell about $1 million of yen-denominated Islamic bonds in a new structure that is based on cash flow generated from marketing Web sites.]]></description>
         <link>http://www.structuredfinancenews.com/news/184639-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[EMEA CMBS Under Strain,  Moody's Says]]></title>
         <description><![CDATA[CMBS and multi-family transactions in the EMEA region are becoming increasingly affected by the continued financial market turmoil and the worsening conditions in some countries real estate markets.]]></description>
         <link>http://www.structuredfinancenews.com/news/184648-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Fannie Mae Hikes Workout Incentives ]]></title>
         <description><![CDATA[Effective immediately, Fannie Mae has increased the cash incentives it will pay servicers for successfully completing workouts.]]></description>
         <link>http://www.structuredfinancenews.com/news/184659-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[JPMorgan Warns of 3Q MBS Deterioration ]]></title>
         <description><![CDATA[JPMorgan Chase has warned in an SEC filing that trading conditions 'have substantially deteriorated' in the third quarter, affecting spreads on MBS and loans. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184660-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[BNP Bolsters Structured Credit Desk ]]></title>
         <description><![CDATA[BNP executives say they are positioning themselves for a recovery in the credit markets.]]></description>
         <link>http://www.structuredfinancenews.com/news/184673-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Sorin Hires Ex Bear Stearns Executive as COO]]></title>
         <description><![CDATA[Sorin Capital Management announced that Matt Chasin will join the firm as chief operating officer, partner and member of the investment committee. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184611-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Card Reform Plan Draws Industry Heat]]></title>
         <description><![CDATA[Bankers are holding nothing back in their efforts to squash a proposal designed to revamp card lending practices.]]></description>
         <link>http://www.structuredfinancenews.com/news/184613-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Fannie: Buying is 'Day by Day'; Quitting Alt-A]]></title>
         <description><![CDATA[Fannie Mae said on Friday it would be taking a more guarded approach to loan purchases in the near term. One area where Fannie will not be taking advantage of opportunities is in Alt-A mortgages.]]></description>
         <link>http://www.structuredfinancenews.com/news/184615-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[ Radian Says It Will Use Bond Insurer Excess to Prop Up Mtg Insurer]]></title>
         <description><![CDATA[Radian Group today announced it plans on using excess capital in bond insurer subsidiary Radian Asset Assurance to prop up its mortgage insurance business, Radian Guaranty. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184620-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[ResCap Appoints Head of Mortgage Special Operations Biz]]></title>
         <description><![CDATA[Residential Capital hired John Vella as senior vice president and managing director of ResCap's mortgage special operations business. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184625-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Freddie Hikes Delivery Fee ]]></title>
         <description><![CDATA[Following in Fannie Mae's footsteps, Freddie Mac is doubling its market risk delivery fee to 50 basis points, which will be added to other delivery fees currently in place starting Nov. 7. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184627-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Despite 2Q Profit, MBIA Takes Loss in 1st Half ]]></title>
         <description><![CDATA[Mortgage-related bond insurer MBIA generated $1.7 billion in net income in the second quarter. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184628-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[DB's Institutional  Asset  Management Biz Enhances Money Market Fund Reporting]]></title>
         <description><![CDATA[A first-of-its-kind reporting tool provides data access for investors. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184632-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[SIFMA's  Asset Management Group's Steering Committee Announces New Chairs]]></title>
         <description><![CDATA[The steering committee of SIFMA's asset management group has elected its new leadership for 2008 and 2009.  ]]></description>
         <link>http://www.structuredfinancenews.com/news/184634-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[S&amp;P Appoints Head of Structured Finance]]></title>
         <description><![CDATA[Standard &amp; Poor's appointed David Jacob as executive managing director and head of structured finance ratings.]]></description>
         <link>http://www.structuredfinancenews.com/news/184657-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[International Objections Raised Against  European Commission Regulations ]]></title>
         <description><![CDATA[Thirteen countries including Germany, Italy, Spain, Portugal, Ireland and France called on the European Commission to delay or change the plan for further regulations of ABS investments.]]></description>
         <link>http://www.structuredfinancenews.com/news/184499-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[German Deals Could See Higher Market Value Decline, Fitch Says]]></title>
         <description><![CDATA[Fitch Ratings is reviewing its market value decline (MVD) assumptions for German residential properties. ]]></description>
         <link>http://www.structuredfinancenews.com/news/184500-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Fannie Mae Records 2Q Loss as Credit Costs Rise; Cuts Dividend]]></title>
         <description><![CDATA[Fannie Mae swung to a second-quarter loss as it booked $5.35 billion in credit-costs from boosting loss provisions and charge-offs.]]></description>
         <link>http://www.structuredfinancenews.com/news/184501-1.html?CMP=OTC-RSS</link>
      </item>

      <item>
         <title><![CDATA[Fund to Buy Nonperforming CRE Loans]]></title>
         <description><![CDATA[WLJ Partners announced its formation Thursday and said it has raised $200 million to buy nonperforming commercial real estate loans.]]></description>
         <link>http://www.structuredfinancenews.com/news/184502-1.html?CMP=OTC-RSS</link>
      </item>
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