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UBS Reorganizes Real Estate and Securitized Products

- Ramesh Singh, head of real estate and securitized (RE&S) products. is departing UBS.

GMAC Files for BHC, Offers Note Holders a Deal

- GMAC Financial Services has applied with the Federal Reserve to become a bank holding company.

TARP Monitor Defends Authority

- The prosecutor named to monitor the $700 billion bailout program said Wednesday that the Treasury's retreat from the program's original mission would not hurt his authority.

Amherst Hires Goodman

- Laurie Goodman has joined the New York offices of Amherst Holdings as a senior managing director in charge of research, risk management and business development, effective Dec.8.

GSEs' 3Q08 Debt Seen at $6.8T, Exceeds U.S.'s By $1T

- The FHFA said Monday that the combined debt of Fannie Mae, Freddie Mac, and the Federal Home Loan banks was $6.8 trillion at the end of September.

TARP Overseers Start to Take Shape

- A structure for overseeing the financial services industry's bailout is coming together.

ESF Notes Retained Deal Trend

- The European securitization market remains frozen despite new issuance volumes for 3Q08 roughly matching the volume of maturing securities.

Former Treasury Official Calls for Securitized Trust Rule Change

- Congress needs to pass legislation that 'unlocks' securitized trusts so servicers could sell distressed mortgages to the Treasury Department for restructuring.

Ailing Genworth Buying Thrift, Wants TARP Money

- Genworth Financial, after recently posting a large third quarter loss, struck a deal over the weekend to buy a $1 billion thrift in Minnesota.

Cairn Capital Appoints Head of New Real Estate Fund

- The Ibex Fund will specifically invest in CMBS.

Retained, But Still Very Big

- UniCredit Banca per la Casa SpA latest retained RMBS still caused a stir because of its size.

FDIC: IndyMac Sale Slated for December

- The Federal Deposit Insurance Corp. hopes to complete a deal to sell a majority of IndyMac Federal Bank in December.

S&P: Subprime Losses May Be Less Than Expected

- Standard & Poor's predicts that subprime losses on 'AAA' rated mortgage bonds may not be as bad as some are projecting

Fannie/Freddie Put Loan Mods on Fast Track

- The GSEs have adopted a streamlined approach to modifying delinquent mortgages that regulators and industry groups hope will be accepted by investors.

ASF Worries Servicer Advances Could Hurt Firms

- The federal government should consider extending a lending facility to non-bank mortgage servicers to avoid significant disruptions.

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