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Latest news
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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Announcement of the government’s proposed mortgage refinance program sent prices on mortgage-backed securities issued by Fannie Mae and Freddie Mac sharply lower.
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The U.S. Department of the Treasury has met with major bond dealers for their input on a possible offer of floating-rate notes, the agency’s first new inflation-linked security in 14 years.
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California Attorney General Kamala Harris is said to have hit Bank of America with a subpoena for information related to its mortgage-backed securities practices.
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The changes to the Home Affordable Refinance Program that deal with which mortgages are eligible for refis might have a limited effect, but the extension of HARP until 2013 should encourage more servicers to offer HARP refis, according to Matt Jozoff, head of residential mortgage-backed security research at JPMorgan.
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The protracted wrangling over a resolution to the Eurozone crisis is holding some issuers in the region back from rolling out new securitizations, according to a London-based asset-backed securities syndicate head at a European investment bank.
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A new London-based hedge firm will target distressed asset-backed securities in its flagship fund, according to Derivatives Intelligence, an SI sister publication.
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The U.S. Securities and Exchange Commission’s recent decision to review the status of Real Estate Investment Trusts could signal a move to codify the exemptions and special privileges the REIT structure enjoyed—not the crackdown the industry fears—said Richard Ginn, managing director at Bank of America-Merrill Lynch.
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BlackRock says securities lending as well as advisory and administration fees helped raise revenue by 6% in the third quarter compared with a year earlier.
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FICO is teaming up with CoreLogic to upgrade current mortgage credit-risk scoring services.