Weekly Issue Archive »

Issue 375 - 26th February

  • Market Reports

    • ABS

      • All about autos for US ABS

        US ABS secondary supply was mainly concentrated in auto loan bonds yesterday. BWIC volume was slightly lower than the previous session at US$134m, with SCI's PriceABS data showing a number of successful covers. The 2012 and 2013 vintages were preva...

    • CMBS

      • Steady state for US CMBS secondary

        Generic US CMBS spreads were mostly unchanged yesterday with BWIC volume of around US$270m. SCI's PriceABS data reveals a few tranches from 2013 as well as names from the more commonly seen 2006 and 2007 vintages out for the bid. CD 2006-CD3 C was...

    • RMBS

      • RMBS market moves higher

        US non-agency RMBS BWIC activity picked up strongly yesterday to reach almost US$900m. Subprime paper was prevalent on bid-lists, concentrated in the 2005-2007 vintages, with price talk and covers on several bonds moving up from the previous session....

  • News

    • Structured Finance

      • SCI Start the Week - 24 February

        A look at the major activity in structured finance over the past seven days

        PipelineA steady flow of new deals joined the pipeline last week. As well as three ABS and two ILS, three RMBS and three CMBS were announced. The ABS were: US$1.008bn Ally Auto Receivables Trust 2014-SN1; E-Carat 3; and US$678m VFET 2014-1. The ILS...

    • CMBS

      • TITN 2007-CT1 losses to reach Bs

        Mixed loan-level developments for the pan-European CMBS Cornerstone Titan 2007-1 suggest that principal losses could reach the class B notes, according to Barclays Capital CMBS analysts. The A2 class has become most senior tranche, increasing the ris...

      • CWCapital liquidation trends emerging

        A number of trends have become apparent for the loans liquidated in CWCapital's bulk sale (SCI passim). Proceeds have generally been higher than appraisals - on average by 13% - and loss severities are coming in at around 50%. B...

    • RMBS

      • Countrywide wrangling continues

        Judge Scarpulla of the New York State Court ruled last week that the judgement entered by Judge Kapnick on 31 January in the US$8.5bn Countrywide settlement case will not be further delayed. AIG and other objectors had asked for the entry of the judg...

  • Job Swaps

    • Structured Finance

      • Valuation leader appointed

        Houlihan Capital has appointed Theresa Poppei as senior md for valuation. She will be responsible fo...

    • CLOs

      • Key man replacements made

        Investec Bank has issued key person replacement notices for the Gresham Capital CLO I, II, III, IV a...

    • Insurance-linked securities
    • Risk Management

      • CLO vet joins broker

        Mario Verna has joined Guggenheim Partners in New York as an md in CLO banking. He was previously at...

  • News Round-up

      • RV approach updated

        Moody's has updated its methodology for rating EMEA auto lease ABS exposed to residual value (RV) ri...

      • MMF rules delayed

        The decision by the European Parliament's Economic and Monetary Affairs Committee to postpone agreem...

    • CDO

      • Trups CDO cures continue

        The number of combined defaults and deferrals for US bank Trups CDOs declined to 25.8% at end-Januar...

    • CDS

      • CDS definitions published

        ISDA has published the 2014 ISDA Credit Derivatives Definitions, a revised version of the 2003 ISDA...

    • CMBS

      • CWCAM recoveries confirmed

        CWCapital Asset Management reports that it has liquidated 110 of the 134 assets marketed via CBRE an...

      • CMBX 3 correction issued

        Markit has issued a correction in connection with a loss recoupment on the CWCI 2006-C1 D tranche th...

    • Insurance-linked securities
    • Risk Management

      • Data transparency offered

        Moody's Analytics has launched a new Structured Finance Portal that is designed to provide enhanced...


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