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Latest news
Deal raises questions about whether transaction was done at arm's length
Joanna Chan is taking on the role of head of strategic capital
Key points of contention include the investor sanctions regime and the definition of 'resilience'
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Keynote speaker Elemér Terták, principal advisor, financial institutions, DG Internal Market & Services at the European Commission, offered Global ABS 2011 attendees little new insight into the thinking of regulators, instead vowing to deny the European securitization market a repeat of mistakes made in the past.
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Antonio Horta-Osorio, the new ceo of Lloyds Banking Group, is expected to slash another 15,000 jobs in a strategic review to be announced at the end of June, bringing the total of lost positions since its merger with HBOS to more than 43,000.
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CapitaLand is refinancing a SGD866 million ($701 million) legacy commercial mortgage-backed securitization on a landmark Singapore property and will reach out to European ABS investors with the new bonds, according to officials familiar with the deal.
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Europe’s bids-wanted-in-competition shot up to €3 billion (4.35 billion) in asset-backed securities last month, more than double the amount on offer in previous months, according to analysts at the Royal Bank of Scotland.
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Lazard has hired a team from Amias Berman to start a structured credit advisory business. Alan Patterson has joined as managing director, with Andrew Feachem, Juan Carlos Martorell, and Aman Panaech as directors and Abror Ismailov as vice president.
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Nomura Securities could be looking to add a senior student loan securitization trader after Monica Mehra, v.p., left the firm recently, according to a bank official.
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Syncora Guarantee has filed suit against Bear Stearns, now owned by JPMorgan Securities, for allegedly making false and misleading statements about the loans in a 2007 mortgage-backed securities deal.
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Fannie Mae has issued new standards for mortgage servicers regarding the management of delinquent loans, default prevention and foreclosure time frames under the Federal Housing Finance Agency's servicing alignment initiative announced in April.
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The mortgage industry’s lobbying efforts have succeeded in persuading regulators to extend the comment period on a proposed risk-retention rule for issuers of mortgages.