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Securitization People and Markets

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  • The appointment of a leader for the Consumer Financial Protection Bureau marks a new and important step in the long, drawn-out process of Dodd-Frank reforms, according to Stephen Ornstein, partner at SNR Denton.
  • The qualified residential mortgage rules currently being hammered out by regulators should ease up from initial proposals, unless the government wants to see the mortgage market shrink even further, said speakers at the “Mortgage Underwriting and the Impact of QM” panel.
  • Regulatory and macro issues continue to hinder a comprehensive recovery for both the wider economic landscape and the securitization sector, and they’re not going away anytime soon, according to speakers at the 2012 Securitization Market Outlook panel at ASF2012 conference in Las Vegas Monday morning.
  • The Volcker Rule’s enforcement date is a mere six months away, but industry professionals say they still aren’t sure what the complex and overarching rule really means for securitization.
  • Bank of America is said to have raised $389 million for collateralized loan obligation for Symphony Asset Management.
  • Belgian-French lender Dexia has filed a lawsuit against JPMorgan Chase over mortgage-backed securities the bank and its acquired companies Bear Stearns and Washington Mutual sold it.
  • Vestjsk Bank, Denmark’s eighth largest lender, said it may ask the Danish government to help it financially by converting a near-$250 million hybrid loan into equity.
  • The European Central Bank said it stands to recover nearly all the EUR8.5 billion ($11 billion) in loans to Lehman Brothers.
  • UBS is said to be planning to offer a $1.5 billion dollar-denominated covered bond, the first from a European borrower since Nordea Bank issued one in September.