Asset Securitization Report articles from April 2006

Asset Securitization Report archives from April 2006

Whispers.(Officials and employees)
April 3, 2006... FGIC Corp., the parent company of Financial Guaranty Insurance Co. has hired Derek Donnelly as director in structured finance. Donnelly will focus on commercial asset-backed securities. Before joining FGIC, Donnelly was a vice president,...

Fitch: Big picture shows little variance among rating agencies.
April 3, 2006... Only minute differences separate U.S. structured finance ratings across the credit spectrum, according to Fitch Ratings. The rating agency recently released for the second time a study that compares its own ratings with those of Moody's...

Two Russian banks place novel deals.(Russian Standard Bank)
April 3, 2006... After a year or two of mounting expectation, Russia has finally seized the attention of structured finance investors and it appears it's not letting go anytime soon. In the last week of March, two Russian originators, Alfa Bank and Russian...

Indofood ruling trouble for Euro ABS.(asset backed securities)(Indofood Sukses Makmur P.T.)
April 3, 2006... A recent U.K. court decision is creating uncertainty about whether securitizations can rely on a double tax treaty for relief from withholding taxes. Market players in London disagreed about the significance of the case, which pitted...

ABX.HE spreads continue to grind tighter.(housing market )
April 3, 2006... The two-month-old synthetic index for home equity ABS is arguably becoming less volatile and more transparent as an increasing number of investors move into the sector and a wider array of data becomes available in order to track pricing...

Recent highway privatizations prompt securitization market to discuss toll road ABS.
April 3, 2006... When a New Jersey state senator proposed nearly two weeks ago to raise $6 billion by selling half of the state's two major highways to shareholders, it wasn't just another New Jersey Turnpike joke. Instead, it was a sign that there is growing...

Despite arbiter's ruling, tobacco bonds expected to meet April payment.
April 3, 2006... An arbiter's ruling last week might prompt several tobacco companies to reduce pending April payments to states under the 1998 Master Settlement Agreement (MSA). Although these cash flows are used to securitize billions of dollars in ABS deals,...

Slow ABS week ends with $10.5 billion in issuance.(asset backed securities)
April 3, 2006... The U.S. asset-backed market witnessed modest issuance volumes last week, as the cost of borrowing went up again, and a Federal Reserve survey revealed that Americans were borrowing more heavily than before. Against the backdrop of a...

Moodys to begin tracking CDO equity performance.(emerging market)
April 3, 2006... Moody's Investors Service last week unveiled a new service aimed at helping a burgeoning class of U.S. cash CDO equity investors - mostly hedge funds - track how well their investments are performing. The rating agency will begin providing...

Aladdin to set up Euro loan business.(Aladdin Capital Management)
April 3, 2006... With its eye on the booming European leveraged loan market, Aladdin Capital Management has joined the growing community of U.S. CLO managers setting up shop on the other side of the Atlantic. The firm took a key step toward creating a...

Slow turnaround seen for franchise loans.(franchise business operations)
April 3, 2006... The franchise loan sector, which saw no traditional loan pools securitized in 2005, is expected to begin a slow turnaround in 2006, with stabilizing loan pools and improvements in the underlying franchise business operations. But it will be a...

Modest flows as market sells off and waits for FOMC statement.(investment services)
April 3, 2006... Mortgage flows last week were two-way with participation from both domestic real and fast money. However, overall volume was modest, starting off rather light while the market was waiting for the outcome of the Federal Open Market Committee's...

JPMorgan looks at hedging convexity risk.(frequency of dynamic hedging)
April 3, 2006... In a recent report, JPMorgan Securities studied the performance of dynamic hedging strategies to manage convexity risk in MBS portfolios. In the report, analysts examined the relationship between risk, returns and the frequency of dynamic...

German banks give small Eastern European enterprises a hand up.(securitization deal)
April 3, 2006... German bank Kreditanstalt fur Weideraufbau (KfW) last week brought to market the first asset-backed securitization deal secured by small and medium-sized business loans originated in Eastern Europe, and it did so in a multi seller format. ...

Mexico State exits bond market, Pacsa pairs with MBIA again.
April 3, 2006... Joining its subsovereign peers, Mexico State has exited the bond securitization business. With a recent 15-year asset-backed loan for Ps750 million ($68 million), the originator retired the last two of its bonds collateralizing payroll taxes....

IDB sets up $75m warehouse facility for Brazilian Securities.(warehouse loan)(Inter-American Development Bank)
April 3, 2006... Giving a leg-up to Brazil's real estate market, the Inter-American Development Bank recently closed a $75 million warehouse loan facility to local securitizing agent Brazilian Securities. The loan has a seven-year maturity and charges a...

Turkey's Finansbank heard crafting RMBS.(Mortgage backed securities)(Brief article)
April 3, 2006... Talk is circulating that Turkey's Finansbank has awarded Merrill Lynch a mandate for an RMBS which could turn out to be the country's first. The bank issued a $500 million, seven-year deal backed by diversified payment rights in March of last...

SPL completes Thai auto loans ABS.(Siam Panich Leasing)
April 3, 2006... Siam Panich Leasing (SPL), the Thai consumer finance company, last week completed its debut THB5 billion ($128.7 million) auto loans ABS. Standard Chartered and Siam Commercial Bank were joint arrangers on the offering, which was backed by a...

Chinese ABS market heats up.(Antilock Braking System)
April 3, 2006... More activity is shaping up from China's emerging securitization market, specifically from China Development Bank (CDB) and China Network Communications. CDB will shortly launch its second ABS. The bank says it has secured interest for a...

FirstMac takes first offshore RMBS on the road.(non-Aussie dollar tranche)
April 3, 2006... First Mortgage Group (FirstMac), one of Australia's largest non-bank RMBS issuers, will soon launch its seventh securitization but first to feature a non-Aussie dollar tranche. HSBC is lead manager on the deal - issued out of the FirstMac bond...

Japanese deal flow fueled by consumer firms.(finance companies)(Brief article)
April 3, 2006... The ABS deal pipeline is heating up in Japan as securitizations from the country's consumer finance companies and the Japanese government come to market. Two transactions are in the works from Central Finance and Mitsui Sumitomo Insurance....

Whispers.(Royal Bank of Scotland PLC)(Dominion Bond Rating Service Ltd.)(Moody's Investor Service)
April 10, 2006... UCC Capital announced that it has secured the financing for and served as M&A advisor to Iconix Brand Group's acquisition of apparel brand MUDD. The proceeds from the MUDD transaction will be added to the revolving master trust created for the...

Citigroup leads manager pack once again at first quarter 2006 close.(Citigroup Inc. (New York, New York))
April 10, 2006... Citigroup Global Markets grabbed the top slot on the lead managers league table for the first quarter, surging ahead from its ninth place finish in the same period last year, according to data from Thomson Financial. The investment bank...

Doubts plague risk management.
April 10, 2006... The CLO/CDO and derivatives market has been heating up for well over a year now, with CDO issuance alone hitting $40 billion year to date, nearly half of total volume in 2005, according to Lehman Brothers. While this is exciting news, several...

Is the ABX.HE ready for more names?
April 10, 2006... Dealers are working amongst themselves and with customers to decide if and when the home equity ABS synthetic index should incorporate more than the 20 deals it currently references. Those interested in either creating a new index product or...

After a late 1Q burst, ABS market plunks down $4 billion.(Asset backed securities)
April 10, 2006... After rushing to complete deals in time for the first quarter, issuers and arrangers pulled back last week, managing to complete about $4 billion in deals. That's well below the average weekly issuance of $10 billion so far this year, and...

Citi swoops in as top CDO underwriter in 1Q.(collateralized debt obligations)(Citigroup Inc. (New York, New York))
April 10, 2006... Citigroup Global Markets grabbed the largest market share among U.S. ABS CDO underwriters in the first quarter of this year, according to data maintained by Thomson Financial. Citigroup rose up from third place at yearend 2005 and barely...

GMAC sale to have limited impact on auto ABS.(General Motors Acceptance Corp.)(Asset backed securities)
April 10, 2006... The sale of General Motors Acceptance Corp. relieved a number of ABS investors from wondering when the transaction would ever take place, but the sale is anticipated to have a somewhat minimal effect on the troubled U.S. automaker's...

Consumers pile on more mortgage-related debt, but can handle most of it.(Federal Reserve's Triennial Survey of Consumer Finance)
April 10, 2006... Americans ran up significant levels of debt between 2001 and 2004, according to a government survey. In this light, Citigroup Global Markets analysts warned investors to avoid subprime unsecured debt, although they did acknowledge that U.S....

Paydowns and payrolls provide supportive tone.(Mortgage backed securities)
April 10, 2006... Mortgages are off to an okay start in April after a disastrous March. The MBS Index has returned plus seven basis points in excess return versus Treasurys in the first three trading days of April, according to Lehman Brothers. Flows last...

Lehman leads cooling U.S. RMBS market.(Lehman Brothers Holdings Inc.)(Residential Mortgage-Backed Securities)
April 10, 2006... The U.S. RMBS market showed signs of slowing in the first quarter from last year's torrid pace - when year-over-year issuance increased by more than $200 billion, according to data maintained by Thomson Financial. Issuance in the first quarter...

Mexico remains ABS center of LatAm universe.
April 10, 2006... Mexico remains the undisputed nerve center of securitization in Latin America. Since the last week of March, the peso market has absorbed Ps2.9 billion ($259 million) in structured deals, while the pipeline bodes well for activity over the next...

IFC opens warehouse for Argentina's RMBS agent BACS.(International Finance Corp.)(Residential Mortgage-Backed Securities)(Banco de Credito y Securitizacion)
April 10, 2006... A major catalyst in reviving RMBS in Argentina, Banco de Credito y Securitizacion (BACS) has recently closed a warehousing credit line with the International Finance Corp. Under the terms of the credit, the multilateral will provide the bank...

OFT axes more charges made by U.K. cards.(Office of Fair Trading)(credit card)(Brief article)
April 10, 2006... The U.K.'s Office of Fair Trading (OFT) released a statement last week on credit card default charges. OFT found that current levels are unfair and requested that all card issuers calculate the cost of issuing default charges including staff...

Panelists ask for more disclosure on synthetic CDO transactions.(Discussion)
April 10, 2006... LONDON - Fitch Ratings opened its Global Credit Derivatives conference last week in London with a discussion among arrangers, investors and managers discussing their take on the growth prospects for synthetic CDOs in a tight spread environment....

Fitch and S&P monitor market risks.(Fitch Inc.)(Standard & Poor's Corp.)
April 10, 2006... Fitch Ratings is moving closer to unveiling its new market risk valuation tool aimed at structured finance investors. The service, which is expected to launch in three months, offers buyers a market risk analysis of synthetic CDOs. "We...

European CMBS enters its Golden Era.(Commercial Mortgage Backed Securities )
April 10, 2006... LONDON - At the Information Management Network s second annual European CMBS conference held here last week, prepayments preyed on the minds of CMBS investors. But still, panelists speaking at last week's opening session argued that prepayment...

StanChart First Bank completes fifth RMBS.(residential mortgage backed securities)
April 10, 2006... Korea's Standard Chartered First Bank (SCFB) has completed its fifth cross-border residential mortgage-backed offering. Standard Chartered -SCFB's parent -was sole arranger, bookrunner and swap provider on the $650 million issue with Calyon and...

Craegmoor subordinated tranches downgraded, triple-As could also fall ill.(Craegmoor Healthcare)
April 10, 2006... The healthcare securitization deal, Craegmoor Funding No.2, had its class M and B notes downgraded last week and it faces an uphill battle to save the underlying ratings on its triple-A notes. Fitch Ratings downgraded the class M notes to...

Australian ABS activity heats up.
April 10, 2006... There was plenty of activity Down Under in the past week, with CNH Australia completing its agricultural equipment ABS, Macquarie Securitisation launching the latest RMBS from its Puma Masterfund program, and diversified property trust Cromwell...

Indonesia's future coal ABS redeemed early.(asset backed securities)(PT Bumi Resources )(Brief article)
April 10, 2006... The $600 million future flow coal ABS completed in June 2005 by Indonesia's PT Bumi Resources will be redeemed in full on April 28, six years ahead of maturity. The move comes as a result of Bumi selling off the two subsidiaries that produced...

Whispers.(Black Diamond Asset Management Inc.)(Wells Fargo & Co.)(Cohen Brothers Inc.)
April 17, 2006... Last week Black Diamond Capital Management joined the growing list of U.S. firms looking for opportunities in the burgeoning European leveraged loan market. The firm announced it hired Peter Cannon as a managing director of its new European...

MBIA taps Mexico shelf for first time.(MBIA Inc.)
April 17, 2006... MBIA has made a debut placement off its Mexican shelf, the first issuance program a guarantor has set up in pesos. The kickoff deal, for toll road operator Promotora y Administradora de Carreteras (Pacsa), came to 1.5 billion UDIS ($500...

Utility to finance scrubbers' via ABS.(asset backed securities)(Allegheny Power Service Corp.)
April 17, 2006... The Public Service Commission of West Virginia recently approved a plan that would allow Allegheny Power to use ABS to finance an emissions control facility at a West Virginia plant. With that decision rendered, Allegheny Power plans to...

BNY becomes corp. trust superstar.(The Bank of New York)(Corporate trust services)
April 17, 2006... The Bank of New York expects to take its share of the corporate trust market to number one by acquiring JPMorgan Chase's corporate trust business, in a combination projected to total $8 trillion of debt issues. And, according to Karen Peetz,...

Middle market CLO market poised for growth.
April 17, 2006... As increasing demand ground CLO spreads tighter and tighter in 2005 - so much so that a number of deals were at risk of breaching spread requirements - more managers looked to middle market loan collateral as a higher yielding alternative. ...

ABS primary issuance slows to a trickle during religious observances.(asset backed securities)
April 17, 2006... Spring break and observances of major religious holidays suppressed the primary ABS market for the second consecutive week, resulting in a mere $5.7 billion in issuance by Wednesday afternoon. That fell short of trader estimates, which put...

Name concentration up within U.S. CDS sector.(credit default swap)
April 17, 2006... The top 10 most widely referenced entities within the burgeoning U.S. credit default swap market accounted for 43% of all trades last year, excluding the indices. This is compared with only 27% in 2004, according to Fitch Ratings. The...

Student loans more accessible, but might be more prone to default.
April 17, 2006... Recent legislative changes to government student loan programs might open doors for more borrowers, but they could also increase the likelihood of borrower defaults, said Fitch Ratings last week. On March 30, the House of Representatives...

XL Capital launches public finance, ABS holding company and IPO.
April 17, 2006... In a very busy week, bond insurer XL Capital created a holding company to oversee its financial guaranty insurance and reinsurance businesses, and launched an initial public offering to fund its growth. XL Capital declined to say how much...

Investor Profile: Deutsche Asset Management grows its portfolio by exploring opportunities in CDOs and CMBS.(collateral debt obligation)(Commercial Mortgage Backed Securities)
April 17, 2006... Look for the U.S. structured finance team at Deutsche Asset Man-agement - a large investor in the ABS market - to grow its portfolio even more over the coming year. The New York-based team, which completed its first CDO as collateral...

Supply imbalance expected even with rising issuance in 6s.(Federal National Mortgage Association (Fannie Mae))(Federal Home Loan Mortgage Corporation (Freddie Mac))
April 17, 2006... Last week's highlight was the explosion of the 6% and FNMA 6.5% rolls. Monday was pool notification and both the FNMA and Gold FHLMC rolls moved as high as 6/32s, and FNMA 6.5s went to 10/32s. This encouraged flows to move up in coupon over the...

Mezzanine and junior triple-A offers value in CMBS.(Commercial Mortgage Backed Securities )(Brief article)
April 17, 2006... O a spread basis, mezzanine triple-As currently offer the best value within the 10-year triple-A sector, said Morgan Stanley analysts in a recent report. Within the triple-A stack, analysts said that junior triple-As have the best value in...

Irish RMBS market debuts subprime 370m deal.
April 17, 2006... Ireland has issued its first subprime RMBS, a 370 million ($447 million) Lansdowne Mortgage Securities transaction. Similar deals are expected on the horizon, Fitch Ratings analysts said. The deal issued by Kensington Mortgages Irish...

European trades slow with looming Easter holiday.
April 17, 2006... With the Easter four-day weekend around the corner, European trading on the secondary front dried up by mid last week. Meanwhile, primary pipeline flow focused on pricing deals, as new transactions being marketed slowed to a trickle. ...

Pub restructuring puts securitization in question.(R20)(Mitchells & Butlers Finance)
April 17, 2006... The Financial Times published an article earlier this month suggesting that U.K. pub operator Mitchells & Butlers Finance's whole business securitization could implicitly constitute a "poison pill" in the takeover bid led by the consortium R20....

ATF enters DPR sector in $100m loan note deal.(diversified payment rights)(ATF Bank )
April 17, 2006... A new kid has moved into the neighborhood of diversified payment rights (DPRs). Kazkah-stan's ATF Bank collateralized that asset in a five-year $100 million loan-note structured, and fully underwritten, by WestLB, according to sources familiar...

Macquarie upsizes latest RMBS.
April 17, 2006... Australia's most active securitizer, Macquarie Securitisation, last week priced the 32nd deal from its PUMA RMBS program. With domestic and overseas investors continuing to show strong appetite for Aussie RMBS, the transaction was upsized from...

Thai mortgage lender turns to Korean buysiders.(Thailand)(Government Housing Bank)(Brief article)
April 17, 2006... Thailand's dominant mortgage originator, Government Housing Bank, is reportedly turning its attention to Korean investors for a THB30 billion ($789 million) proposed securitization scheme. According to local media, GHB is lining up Standard...

Singapore's SPRING is here.(Standards, Productivity and Innovation Board of Singapore)
April 17, 2006... The Standards, Productivity and Innovation Board of Singapore (SPRING) and DBS Bank completed last week a S$101.7 million ($63.2 million) CLO issued through the SME CreditAssist vehicle. The deal is backed by a static pool of 492 secured...

Mortgage deals dominate the wrap business in 1Q06.
April 17, 2006... Wrapped volume reached $16,406 billion in the 1Q06, which is a significant drop from last quarter's showing of $23.4 billion, although faring a tad better than 1Q05's figure of $13 billion. Many attribute the drop to the tight spread...

Whispers.(Mizuho Bank appointed Miroslav Visic)(BNP Paribas appointed Richard Bongo)(Credit Suisse appointed Michael Shackelford)
April 24, 2006... Risk management specialist Miroslav Visic joined Mizuho Bank in New York as a vice president, where he will report to Hiroyuki Kasama, the bank's head of structured finance. Visic was vice president of exposure management for Deutsche Bank in...

CDO industry braces for rapid growth.(Collateralized debt obligations)
April 24, 2006... Swelling volumes of U.S. CDO issuance have drawn more intense regulatory scrutiny and raised the need for standardization across both cash and synthetic sectors, market participants say. In the cash flow segment alone, CDO volume is up 65%, to...

KKR ABCP vehicle chases spread.
April 24, 2006... KKR Financial, a San Francisco-based specialty finance real estate investment trust is launching an asset-backed commercial paper program to chase yield and continue to fund its mortgage loan business. The vehicle, called KKR Atlantic Funding,...

Reserves tapped in U.K. subprime.(mortgage backed securities)
April 24, 2006... Drawing on reserve funds has become more common among U.K. subprime RMBS transactions, with two deals siphoning cash just this month and others likely to follow. Last week Fitch Ratings and Standard & Poor's took action against Rooftop...

JPMorgan: investors should stay vigilant of AFC shortfalls in '03, '04 HEL deals.(home equity loan)
April 24, 2006... The home equity loan sector back in the early part of the millennia - along with other segments of the capital markets - grew comfortable with a historically low interest rate environment, structuring their deals accordingly. Fast forward to...

ABS market creeps slowly back with $5.2B.
April 24, 2006... The asset securitization market did not exactly come roaring back last week from its spring break. While market professionals hoped that the market would produce about $14 billion in new issuance by week's end, it actually came in at about $5.2...

Less MBS seen from home builders that tap funding alternatives.
April 24, 2006... While speculation continues to swirl about a pullback in the housing market, the homebuilder market is seeing slower top-line growth, ample unsecured credit agreement capacities and large cash balances. Combined, these factors have driven down...

Hybrid' TRUPS CDOs are in vogue.(Capital Trust Pass-Through Securities)(collateralized debt obligations)(Real Estate Investment Trust )
April 24, 2006... More trust preferred securities-backed CDOs are expected to come to the market this year - with the number of rated deals topping $30 billion this month. Furthermore, these upcoming transactions are expected to contain a wider range of assets...

Polaris completes Taiwanese CBO.(Collateralized bond obligations)(Polaris Securities )
April 24, 2006... Last week Polaris Securities became the latest Taiwanese entity to complete a collateralized bond obligation. As with the previous issues, Polaris' NT$12.2 billion ($376.8 million) deal was an attempt to address the drop in value of structured...

Wachovia beefs up Moody's equity tracker.(Wachovia Securities Inc.)(Collateralized debt obligations)
April 24, 2006... Bit by bit, more light is beginning to shine through what is arguably the most opaque corner of the CDO market - equity tranches. Helping matters are some initiatives from market players including Moody's Investors Service's recent announcement...

Clarification.(Correction notice)
April 24, 2006... ASR's April 10 market story quoted a Deutsche Bank report as saying that credit card issuance experienced a lower growth rate in the first quarter. New card issuance actually is actually poised for the strongest year-over-year gain this...

More SME loan CDOs on the horizon.(small and medium enterprises)(Collateralized debt obligations)(HSBC Holdings PLC)(Commerzbank AG (Frankfurt, Germany))
April 24, 2006... Commerzbank kicked off the season for small and medium enterprises (SMEs) loan CDOs with its CB Mezzcap deal, which priced at the beginning of April. It was closely followed a week later by a transaction from HSBC Trinkhaus & Burkhart. On the...

NAC grows business with first CLO.(New Amsterdam Capital Management)(Collateralized loan obligations)
April 24, 2006... Like many of his peers in the European leveraged loan market, Don Procter, chief investment officer of London-based investment management firm New Amsterdam Capital Management (NAC), believes that the unprecedented growth in the asset class...

S&P: Synthetic CDO perform better in 1Q06.(Standard & Poor's Corp.)(Collateralized debt obligations)
April 24, 2006... More than half of all downgrades experienced by the U.S. CDO sector in the first quarter stemmed from synthetic transactions, according to Standard and Poor's. However, only 17 synthetic CDOs were downgraded, compared to a record 43 in the...

Mortgage buyers emerge on range bound, low vol outlook.
April 24, 2006... Mortgages recovered their April losses last week and then some. According to Lehman Brothers, month to date through April 19, the MBS Index had returned seven basis points in excess return versus Treasurys. For the month ending April 13, excess...

CMSA kicks off European Investor forum.(Commercial Mortgage Securities Association)(Brief article)
April 24, 2006... Commercial Mortgage Securities Association-Europe has created an investors forum to provide CMBS investors with an opportunity to engage in an open dialogue about topics related to commercial real estate securitizations. The investors-only...

Deal flow trickles in, but market expects it to flood soon.(capital market)
April 24, 2006... The truncated week was slow to show any signs of a post-Easter deluge of deals. However, by mid-week, indications of an improving market flow had already begun. Several new deals have hit the screen following the long holiday break. The...

It's REIT land in Singapore.(Real estate investment trusts)(Brief article)
April 24, 2006... Singapore's rapidly growing real estate investment trust (REIT) sector continues to dominate the securitization landscape. One of Singapore's biggest property developers K-REIT, the commercial property trust established by Keppel Land, was due...

Fitch shindig reveals strong ABS interest.
April 24, 2006... SINGAPORE - Judging by the number of attendees at Fitch Ratings' CDOs, REITs, and Securitization Conference 2006' held here last week, interest in structured finance within Asia has never been higher. Along with the usual suspects from...

It was busy Down Under last week.(Suncorp-Metway Ltd.)(Bluestone Mortgages)(Brief article)
April 24, 2006... More activity emerged from Down Under last week. Australian financial services group Suncorp Metway launched the latest RMBS from its Apollo facility, while nonconforming mortgage provider Bluestone Mortgages will soon issue New Zealand's first...

Japanese regulators crack down on JPMorgan Trust.(JPMorgan Trust Bank)(Financial Service Agency )(Brief article)
April 24, 2006... JPMorgan Trust Bank has fallen foul of Japanese regulators for activities related to its real estate trust group. The Financial Service Agency has suspended the bank from generating new business by its real estate trusts for six months, and...

Deutsche gets Posch.(Deutsche Bank AG (Frankfurt, Germany))(Brigitte Posch )(Brief article)
April 24, 2006... After only six months at Ambac, Brigitte Posch has hopped over to Deutsche Bank, where she is heading Latin American securitizations, according to sources familiar with the move. Her position is new, a likely sign that Deutsche is taking the...

Su Casita closes 1st straight peso RMBS in private sector.(residential mortgage backed securities)(Brief article)
April 24, 2006... Mexico's Su Casita closed a Ps525 million ($47.6 million), 25-year final deal last week that marked the birth of the fixed-peso RMBS market for private sector originators. "We're moving towards international standards," said Mark Zaltzman,...