Issue 252 - 21st September
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News Analysis
- RMBS
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Caveat emptor?
Jurisdiction may play key role in RMBS fraud case volume
Regulators and investors in both the US and the UK remain focused on the fraudulent misrepresentation of structured finance securities and the resulting losses. However, as the number of cases in the US is set to increase in the coming months, the ca...
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Partial eclipse
European covered bond issuance threatens to leave RMBS behind
The European covered bond market has seen almost €20bn in new issuance over recent weeks, eclipsing the far quieter RMBS market. The move has led some to question whether there will be sufficient demand for both products going forward. Ro...
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- CMBS
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Action plan
Real estate auction platform looks to expand
Online bidding platform Auction.com is credited for helping to resolve distressed real estate in the US by putting it directly into the hands of local entrepreneurs. The company is now looking to expand into the European market and potentially via no...
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- RMBS
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News
- ABS
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SCI Start the Week - 19 September
A look at the major activity in structured finance over the past seven days
PipelineAmong the deals that entered the pipeline last week are: the C$535m Ford Auto Securitization Trust 2011-R3 auto ABS; the US$375.2m Sequoia Mortgage Trust 2011-2 private label RMBS; and the US$1bn JMPCC 2011-C5 CMBS. Additionally, Goldman and...
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- ABS
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Job Swaps
- ABS
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Los Angeles partner recruited
Bingham McCutchen has appointed Dan Passage as a partner in its structured transactions group based...
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Corporate trust beefs up
Wilmington Trust's corporate client services (CCS) business has announced the addition of five capit...
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ABS analyst added
Chris D'Onofrio has joined DBRS' structured finance group as an svp, focusing on ABS as a lead analy...
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Marathon names three new partners
Marathon Asset Management has named three new partners: Stuart Goldberg and Andrew Springer, who bec...
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Corporate trust head appointed
Dean Fletcher has been named regional head of BNY Mellon Corporate Trust, EMEA. He continues to repo...
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Hong Kong corporate services team completed
Walkers Management Services has announced that its Hong Kong team is now complete with the appointme...
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- CDS
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EM credit derivatives vet hired
Renaissance Capital has hired Soroosh Shambayati as md and global co-head of markets, based in Mosco...
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- CLOs
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CLO pro recruited
Tom Majewski has joined RBS Securities' global banking & markets division in the Americas as...
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- CMBS
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Real estate partner returns
Pierre-Denis Leroux has returned to Blake, Cassels & Graydon's real estate group as a partne...
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CMBS origination JV established
Barclays Capital and FundCore Finance Group have established a CMBS loan origination and securitisat...
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Bishopsfield bolsters CRE advisory
Bishopsfield Capital Partners has recruited Arjan van Bussel as a new partner to further build its a...
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LNR restructures
LNR Property has announced a new operating and an ongoing realignment of global resources. The firm...
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- ABS
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News Round-up
- ABS
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Sigma case rejected
SIFMA - represented by Cadwalader partner Martin Seidel and associate Nathan Bull R...
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Expanded disclosures described
Fitch has published a special report that describes the representations, warranties and enforcement...
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CIR RFC published
Moody's has published an RFC regarding its proposed methodology for counterparty instrument ratings...
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SEC to tackle conflicts of interest
The US SEC is set to propose a rule intended to prohibit certain material conflicts of interest betw...
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Securitisation leaders hold firm
At the end of August 2011, with more than US$171bn of qualifying deals completed, the leaders mainta...
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Ring-fencing expected to drive SF issuance
Fitch believes that an increase in covered bond and structured finance issuance volumes is likely to...
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- CDO
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ABS CDO on the block
Dock Street Capital Management has been retained to act as liquidation agent for Highridge ABS CDO I...
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CRE CDO delinquencies flatten out
Delinquencies for US CRE CDOs flattened out this past month on limited loan activity, according to F...
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ABS CDO sale due
The trustee of Kent Funding II has been direction to sell and liquidate all of the ABS CDO's assets....
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Euro ABS CDOs affirmed
Fitch has downgraded three tranches and affirmed 53 tranches of 21 European ABS CDOs. Simultaneously...
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ABS CDO sales scheduled
Dock Street Capital Management has been retained as liquidation agent for Rockville CDO I. The colla...
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- CDS
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Vendor adds stochastic rating model
Pricing Partners has added a stochastic rating model to its Price-it derivatives pricing library tha...
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Non-public default model released
Kamakura Corporation has updated its Kamakura Risk Information Services platform to include a non-pu...
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Collateral servicing platform enhanced
BNY Mellon has enhanced its derivatives collateral servicing platform for institutional clients with...
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Housing concerns weigh on subprime CDS
The summer-long rally for US subprime credit default swaps (CDS) has come to a screeching halt, than...
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CDS liquidity bounces back
Fitch Solutions reports that in the two weeks to 16 September global CDS liquidity bounced back from...
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iTraxx set to roll tighter
The Markit iTraxx Europe, Asia and SovX indices will roll into a new series tomorrow (20 September)....
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CDS analytics upgraded
CMA has released Quotevision 4.0, which the firm says is a significant improvement on the previous v...
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- CLOs
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CLO tender offer announced
Citi has commenced a cash tender offer to purchase outstanding Skytop CLO income notes. For each US$...
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- CMBS
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TRX.II launch date announced
The long-awaited launch of indices referencing CMBS 2.0 (SCI 7 April) is now set. Markit has announc...
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- RMBS
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RMBS monitoring tool enhanced
CoreLogic has enhanced its TrueLTV private label RMBS monitoring tool. The service will now provide...
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UK RMBS criteria changes proposed
S&P has issued an RFC on proposed changes to its criteria for rating UK RMBS. It details cha...
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- ABS
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