Residential funders issued $34.7 billion of Ginnie Mae-backed MBS in June, down nearly $2 billion from the month prior, but a 32% spike from a year ago, according to new figures released by the agency.
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Barclays Capital analysts expect that publicly placed issuance for 2012 in the European asset-backed market will exceed their original forecast.
September 17
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Ten industry groups are urging the Consumer Financial Protection Agency to issue a qualified mortgage rule allowing them to adhere to current underwriting standards without fear of litigation.
September 17 -
DBRS said today that rising subprime loan origination volumes and general economic improvement are still creating a positive momentum for the auto sector.
September 17 -
The $65 million Citigroup loan made to Waypoint Real Estate Group for investments in distressed single-family houses converted to rentals, may be a precursor to the much anticipated securitization of these assets.
September 17 -
Bank of America Merrill Lynch analysts' view on most senior FFELP and private student loan ABS remains positive, they said in a Sept. 14 report.
September 17
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Wells Fargo analysts expect consumer ABS issuance to reach $170 billion in 2012, which is a 60% rise over last year. They also noted a modest shift to longer average lives in new deals.
September 17 -
This week there are two auto deals from Toyota and Enterprise as well as two equipment offerings from CNH and GE Capital.
September 17 -
The Federal Open Market Committee surprised the market in that the announced MBS buying was limited to agency fixed-rate MBS only and not Treasurys, although it will continue Operation Twist through yearend as scheduled.
September 14 -
In the structured finance space, the Sept. 13 Federal Reserve announcement that it is beginning a new quantitative easing program of buying $40 billion in MBS per month is set to have the most impact on levered CMBS pricing levels.
September 14 - Europe
With 47 deals priced, European ABS issuance in 2012 year-to-date is at the highest level of activity since 51 deals in 2008 year-to-date, Dealogic reported.
September 14 -
The Federal Housing Administration has opened the bids for its Sept. 12 sale of 5,000 nonperforming formerly insured FHA loans and the results are “very, very positive,” acting commissioner Carol Galante said.
September 14 -
FDIC Acting Martin Gruenberg said that regulators can complete the Volcker rule, , which implements the Dodd-Frank Act's ban on proprietary trading by banks, before January. 1, 2013.
September 14