Asset Securitization Report articles from August 2008

Asset Securitization Report archives from August 2008

More Trouble Expected for German Mezz CLOs.
August 18, 2008... Byline: Nora Colomer Analysts have adopted a bearish stance on German cash mezzanine CLOs, saying they expect the deteriorating German economic landscape and shifting rating methodology to further pressure performance in this asset class....

GMAC Rescap Expands Special Operations Platform.
August 18, 2008... Byline: Editorial Staff Given the challenging structured finance market conditions and an uncertain economic outlook, mortgage servicing is in hot demand, especially among investors looking for loss mitigation in distressed mortgage...

Monoline Termination Agreements to Rise in CDO Market.
August 18, 2008... Byline: Gabrielle Stein With the monoline industry continuing to struggle for survival, albeit with a weak pulse, and the ABS CDO sector almost flatlining, CDO hedge agreements with the monoline industry have been a cause for concern...

More of the Same for the ABS Market; Players wait until after Labor Day for volume to hit both the primary and secondary markets.
August 18, 2008... Byline: Gabrielle Stein Last week proved to be another period of slow issuance for the primary market, and trading in the secondary was not that much more active. Both traders and investors reiterated their expectations that the ABS...

Credit Card Regulations: A mixed bag.
August 18, 2008... Byline: Karen Sibayan In May, the Federal Reserve Board, the Office of Thrift Supervision and the National Credit Union Administration proposed new rules that restrict the pricing and collection of credit card accounts. More recently, the...

$2.9 Billion Facility For Chemical Co.
August 18, 2008... Byline: Richard Kellerhals Bank of America and Scotia Capital are arranging a $2.9 billion credit facility that has a securitization component to it for Ashland. Ashland is a Covington, Ky.-based chemical company that makes resins,...

Future Flows: Spring in Autumn?
August 18, 2008... Byline: Felipe Ossa The persistence of risk aversion is heightening the focus of cross-border emerging market players on financial future flows. In both EEMEA and Latin America, bankers are out pitching old-time originators, along with...

Bancomer Issues Mexico's Biggest RMBS Yet.
August 18, 2008... Byline: Felipe Ossa Bucking the slowdown in issuance of deals backed by real estate receivables, Mexicos BBVA Bancomer closed the countrys largest-ever RMBS on Aug. 8. The deal, amounting to 1.2 billion inflation indexed units (UDIs)...

Japan Gets in on Islamic Finance Race: Shariah-compliant offerings pick up speed despite certain regulatory hurdles.
August 18, 2008... Byline: Nora Colomer The Japanese government is adapting its banking regulations to accommodate the rules of Shariah-compliant Islamic finance. The Japanese private sector has increasingly been showing an interest in Islamic finance....

European Players Brace for an Uneventful Return to their Desks.
August 18, 2008... Byline: Nora Colomer As summer comes to a close and all of Europe has seemingly taken a holiday from the toughest months for the securitization market, its likely that when players return theyll find that the European market is no closer...

Sorin Taps Chasin for COO, Builds Out Operational Infrastructure.
August 18, 2008... Byline: Gabrielle Stein Sorin Capital Management announced that Matt Chasin officially joined the firm on Aug. 11 as chief operating officer, partner and member of the investment committee. In his new role, which is also a newly...

Mortgage Market Enters Dog Days of Summer; The summer doldrums and market nervousness tempered MBS activity over the week.
August 18, 2008... Byline: Sally A. Runyan/Thomson Reuters Summer vacations and ongoing worrisome conditions kept MBS volume below normal through the first half of the week with better selling overall following the sectors strong rally on the previous Friday....