» securities

Harley-Davidson in motorcycle loan securitization

Seneso Journal — Mon, 23 Nov 2009 20:13:57 +0000

Underwriters are marketing a $562 million Harley-Davidson Motorcycle Trust asset-backed sale to investors on Monday to be sold under the Federal Reserve’s emergency loan program, market sources said.

The securities backed by motorcycle loans will be sold under the Fed’s Term Asset-Backed Securities Loan Facility, known as TALF, under its next loan subscription round scheduled for Dec. 3.

Read the whole story @ Reuters

Insight pair add RMBS to fund range

Seneso Journal — Mon, 23 Nov 2009 02:31:49 +0000

Insight Investment multi-manager duo Mike Pinggera and Steve Waddington have defended their decision to introduce residential mortgage-backed securities (RMBS) into their multi-asset range.

Mr Waddington said adding a position in Monument Bond fund was justified, despite the very cautious mandate the team runs.

Read the whole story @ FTAdviser

Fed’s Bullard: Keep MBS program alive

Seneso Journal — Mon, 23 Nov 2009 02:21:41 +0000

A senior Federal Reserve official said on Sunday the central bank should keep alive a mortgage-backed securities buying program beyond a planned end-date to give policy-makers more flexibility as they help the economy recover from a painful recession.

“I have advocated to keep the asset purchase program open but at a very low level, and wait and see what happens, and as information comes in about the economy we can adjust that program while the federal funds rate remains at zero,” St. Louis Federal Reserve bank James Bullard said in an interview with Dow Jones newswire.

Read the whole story @ Reuters

CMBS investors have thin(ner) skins in the game

Seneso Journal — Fri, 20 Nov 2009 16:48:31 +0000

ECB to Tighten ABS Requirements

Seneso Journal — Fri, 20 Nov 2009 16:37:07 +0000

The European Central Bank on Friday announced its first active step to unwind the extraordinary stimulus measures it has used to support the financial sector since the global crisis last year.

The bank said it will tighten the standards by which it accepts certain asset-backed securities as collateral for its refinancing tenders.

Read the whole story @ WSJ

FDIC May Tie Underwriter, Rater Pay to Asset-Backed Performance

Seneso Journal — Thu, 19 Nov 2009 17:02:43 +0000

The Federal Deposit Insurance Corp. may force underwriters and raters of asset-backed securities created by banks to be compensated based on the bonds’ performance, an agency official said.

Such a requirement may be part of new rules for bank securitizations that the FDIC staff proposes at an agency board meeting next month, Michael Krimminger, special adviser for policy to FDIC Chairman Sheila Bair, said today in a telephone interview.

Read the whole story @ Bloomberg