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Meanwhile, BNP Paribas hires in structured finance
Aspire's first deal is a $391.28m non-prime securitization
Two lenders entering administration should signal to others: simplify the industry
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Non-agency mortgage real estate investment trusts, which invest in residential mortgage-backed securities, have so far in 2012 outperformed its agency counterparts, reversing their performance roles from the second half of last year.
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Bond insurer Ambac Financial Group has sued JPMorgan Chase over the more than $200 million in claims it had to pay on seven residential mortgage-backed securities.
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Brussels-based Dexia has filed suit against Bank of America’s Merrill Lynch unit for losses it claims it suffered on its investment of more than $900 million in mortgage-backed securities it bought from the bank.
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Credit enhancement on the top classes of an upcoming $741.9 million prime residential mortgage-backed securitization from Credit Suisse First Boston Mortgage Securities Corp. is “insufficient” to warrant AAA ratings from Fitch Ratings, the agency announced today.
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Moody’s Investors Service says it will decide in May whether to further downgrade global financial institutions, with Morgan Stanley said to be most vulnerable with a possible loss of three notches.
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Moody’s Investors Service says it will decide in May whether to further downgrade global financial institutions, with Morgan Stanley said to be most vulnerable with a possible loss of three notches.
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U.S. Magistrate Judge Laurel Beeler of San Francisco has ordered Wells Fargo and the U.S. Securities and Exchange Commission to work out their issues regarding subpoenas relating to an SEC investigation into mortgage-backed securities.
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An unusual issuance from Prudential Financial this week had some market players scratching their heads, pondering the deal’s unusual structure and wondering why the insurance company’s financing arm took that route.
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Investec Bank relaunched and priced its Gemgarto residential mortgage-backed securities deal on Friday.