Discover Bank priced $850 million of three-year credit card-backed securities at 20 basis points over three-month Libor, according to a regulatory filing

JPMorgan Chase may be the quintessential New York money center bank, but the Big Apple is a rare market where it lags in multifamily lending.

The subprime credit card market, long down for the count, may finally be poised for a comeback.

A trend of fewer homeowners refinancing their mortgages as interest rates climb is helping to curb sales of home-loan bonds without government backing. It’s also making new notes being issued safer, according to Moody’s Investors Service.

George Canellos, the SEC’s former co-director of enforcement, has joined Milbank, Tweed, Hadley & McCloy as global head of the litigation department.

Regulation AB governs registration, reporting and disclosure requirements for all things asset-backed. The Securities and Exchange Commission appears to be ready to update it significantly, but, nearly four years after changes were originally proposed, it’s not clear exactly what the Commission will do.

The turmoil in emerging markets isn’t a re-run of the Asian and Russian Crises of the late 90s, which led to financial havoc and steep recessions in various countries.

This issue has the government all over it, not unlike the industry itself over the past few years.

Wells Fargo and the RBS Securities plan to issue a $1.1 billion CMBS conduit backed by a pool of 99 commercial mortgage loans secured by 133 properties; retail properties make up 32.6% of the pool.

Demand for private flood insurance may increase as the cost of government-subsidized insurance rises, but Fitch Ratings is doubtful that coverage offered by either insurers or capital markets investors would be affordable.

Housing boom-era mortage bonds, written off as “toxic waste” during the financial crisis, are performing better than expected.

2014 2013 2012 ABS (Public + 144A) 70,450.5 70,033.1