Strategy and Outlook

News

SEC to Vote on More Loan-Level Disclosure

The revisions would require asset-backed issuers to provide enhanced disclosures including information for certain asset classes about each asset in the underlying pool in a standardized, tagged format and revise the shelf offering process and eligibility criteria for asset-backed securities.

The Five Challenges Facing Private Label RMBS

Regulatory hurdles, stability of counterparties, the rep and warranties framework, exogenous variables, and technical factors all pose challenges; but GSE reform will probably have the biggest influence, according to Morningstar.

What Makes the DOJ's Subprime Auto Probe Different

The auto loan market has a different track record and players than mortgages, setting the stage for a unique fight among prosecutors, lenders and dealers.

What’s Holding Back RMBS, and What Could Take its Place

While the recovery in issuance of non-agency residential mortgage backed securities remains anemic and disappointing, there is growing supply of GSE risk-sharing programs.

BOE, ECB Make Proposals to Boost Securitization

In a joint discussion paper, the central banks say that securitization market was unfairly tarnished and that a well functioning market can help provide credit to businesses.

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Articles

Fitch: External Factors Biggest Threat in 2014

Overall issuance growth will moderate in 2014, Fitch Ratings' managing director for asset backed securities says in the firm's outlook.

How Big Box Bankruptcies Would Impact CMBS

Direct exposure to either J.C. Penney or Sears is typically highest in seasoned deals where there are only a small number of loans remaining, and one is secured by a retail property.

No Exception to Risk Retention for CLOs

Risk-retention rules could thin the ranks of CLO managers; the industry was hoping for a workaround, but what it got is pretty much unworkable.

Risk Retention Rules May Shrink U.S. CLO Market

The U.S. market for collateralized loan obligations would shrink by 75% if proposed risk-retention rules are implemented, according to the Loan Syndication and Trading Association.

New Trade Group, Same Old Problem?

Longstanding tensions within the American Securitization Forum (ASF) boiled over in March, when most of its board of directors resigned and formed a new trade group.

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China Auto Securitization Gears Up

As more and more Chinese gain the financial access to buy a car with a loan, lenders will look increasingly to securitization to keep origination going.

Current Issue