Latest News

SEC Finds Conflict of Interest at Three Major Credit Rating Shops

July 8, 2008 – The SEC delivered a blistering report Tuesday that detailed the shortcomings of Fitch, Moody's and S&P when it came to rating RMBS and CDOs.

IndyMac Abandons Origination Biz

July 8, 2008 – IndyMac is abandoning its forward mortgage origination business and focusing on Financial Freedom, its reverse mortgage unit.

ASF Updates Loan Modification Framework

July 8, 2008 – The ASF has updated its Streamlined Foreclosure and Loss Avoidance Framework for Securitized Subprime Adjustable Rate Mortgage Loans.

• GFI Group Names Head of Structured Credit Products
• Another Slower-Than-Expected Prepay Report
• Fitch Grades European ABCP

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Features

Auto Deals Up Despite Slow 1H08 for ABS Managers

July 3, 2008 – Despite a steadier pace of issuance in the second quarter for the consumer ABS market, the first half of 2008 finished significantly behind last year's totals.

Issuance Slump Continues to Pressure CDO Managers

July 3, 2008 – CLOs continued to squeak out new issuance in the second quarter, making them the only corner of the U.S. CDO market to do so.

RMBS Market's Slow Pace Unchanged by Fed Initiatives

July 3, 2008 – The RMBS market reported another paltry quarter, wrapping up a dismal first half for new issuance despite both local and Federal loss-mitigation initiatives.

Industrias Penoles Retires Silver Notes

July 3, 2008 – The world's largest primary silver producer, Industrias Penoles, announced last week that it had pre-paid a 12-year structured bond issued in 1997 for $380 million.

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