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Securitization People and Markets

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  • HSBC affiliate HSBC Trinkaus is talking with WestLB about buying its structured finance unit.
  • Donald MacKinnon, former structured credit trading and asset finance chief at Nomura Securities has been hired by Cole Real Estate Investments to head high-yield portfolio management and to oversee strategy and new originations.
  • Bank of Tokyo-Mitsubishi UFJ has appointed Osamu Muramoto to succeed Makoto Kobayashi as global head of syndicated finance.
  • With nine new residential mortgage real estate investment trusts hitting the market, securing funding via initial public offerings has become a difficult task, according David Akre, principal at Whole Loan Capital.
  • Goldman Sachs may escape criminal prosecution related to its sales of mortgage-backed securities because such a lawsuit against an institution of its size could pose a threat to the U.S. financial system, according to Brad Hintz, an analyst at Sanford Bernstein.
  • Paragon Mortgages, the U.K. buy-to-let lender, says it expects to return to the securitization market before the end of the year as the sector continues to improve and investor interest is on the rise.
  • Fannie Mae saw its issuance of guaranteed mortgage-backed securities decline 36% in April from $54 billion to $34.5 billion, the lowest level since January 2009.
  • Standard & Poor’s reports that the delinquency rate of loans from state housing finance agencies hit a record high of 7.5% at the end of 2010.
  • Avalon IV Capital is said to be planning a $500 million collateralized loan obligation.