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Securitization People and Markets

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  • Stark Investments is planning to launch the RMBS CDS Opportunity Fund.
  • Fitch Ratings has expressed doubts whether the current high quality of residential mortgage-backed securities collateral will last.
  • Ginnie Mae reports an 8% decline in the volume of mortgage-backed securities it guaranteed in March. While issuance of Ginnie Mae I and Ginnie Mae II single-family pools fell, pools of reverse mortgages rose by about 8%.
  • Jefferies has expanded its fixed income division with the hiring of Paul Kopsky as a managing director in its military housing mortgage business.
  • Credit Suisse has restructured its commercial mortgage securitization desk, separating the powers of origination from its underwriting functions to insure the originate-to-distribute model doesn’t drive the newly rebooted platform.
  • The Swiss Federal Council has approved a series of stricter regulations for systemically important banks.
  • FTC Capital, A Vienna-based asset manager, has filed suit against 12 U.S., European and Japanese banks for allegedly conspiring to manipulate the London interbank offered rate and limit trading in LIBOR-based derivatives from 2006 to 2009.
  • The tougher capital requirements for banks adopted by the Basel Committee on Banking Supervision could have a negative impact on financial institutions’ ability to provide loans to governments and developers involved in infrastructure improvements.
  • Peter Hirsch, former head of G-10 and emerging markets rates trading in the Americas at Standard Chartered Bank, has joined RBC Capital Markets, the investment banking arm of the Royal Bank of Canada.