During a pair of appearances Tuesday on Capitol Hill, top housing officials from the Obama administration sought to reassure members of Congress about the financial condition of the Federal Housing Administration. Shaun Donovan, secretary of the Department of Housing and Urban Development, faced sharp questions from Republican senators about the state of the FHA’s finances. […]
This is a weekly securitization news update from the staff of Asset Securitization Report sponsored by Deloitte.
The Financial Industry Regulatory Authority (FINRA) has recommended disciplinary action be taken against two CLO professionals affiliated with Guggenheim Capital Markets. The FINRA — an independent, nongovernmental regulatory body — said in an Oct. 14 Wells Notice that Alexander Rekeda and Timothy Day should be held accountable for “alleged misrepresentations in connection with the sale” of an […]
David Nelms may never escape his underdog status. But he’s gotten adept at using it to his advantage. The longtime chief executive of Discover Financial Services, the credit card company mixing the blue-collar heritage of Sears Financial Services with the blue blood of Morgan Stanley, has spent the last two years in a relatively enviable […]
UGL Services has launched a new group to provide financial analytics support and advisory services for commercial real estate distressed assets, leasing deals and capital markets-related transactions. The capital markets services (CMS) group will provide capital markets transaction services for acquisitions, dispositions, sales-leaseback, mortgage refinance workouts, FASB tenant improvement financings and CMBS restructures. Additionally, CMS […]
Knight Capital hired several former MF Global mortgage credit sales and trading experts including Michael Corsi as managing director in mortgage sales and Rus Margolin as managing director in non-agency trading. Corsi reports to John Welde, who is managing director and global head of structured product sales. Welde is charged with growing the firm’s structured products business. Meanwhile, Margolin reports to the […]
The PrinceRidge Group has made two hires within the firm’s expanding MBS division. Kate Lee has joined PrinceRidge, after six years at BNP Paribas, to spearhead the firm’s new-issue CMO effort. She will aslo trade mortgage derivatives. Jason Huey has also joined the firm as an MBS salesperson. Huey previously worked at Nomura and before that at Blue Mountain and JPMorgan Chase. […]
Christopher Horn has joined Baker & McKenzie as a partner in New York, enhancing the firm’s securitization and structured finance practice. Horn, an expert in auto receivable ABS, represents both issuers and underwriters on structured finance deals, with a focus on ABS offerings in the public and private markets. Horn has represented clients in the securitization of […]
Fannie Mae is considering the head of a banking industry trade group and its own general counsel as possible replacements for departing CEO Michael Williams, according to published reports. Citing sources familiar with the search, The Wall Street Journal reported Thursday that Fannie’s general counsel, Timothy Mayopoulos, has emerged as the leading internal candidate to […]
Liz Frederick has been named the new managing director of Kane USA, a global provider of specialist insurance management services. Frederick will take up her new position in March. Her appointment comes after the departure of Elizabeth Steinman. Frederick is currently global practice head for Kane’s Insurance Linked Securities (ILS) business. Along with her new role, Frederick will continue in her […]
Litigation consulting firm Analysis Group has hired four new affiliates to the firm, including fixed-income expert John Richard. Richard is a fund manager and securities consultant with more than 15 years of experience in institutional money management. He was a founder of Taurus Horizon Fund, where he was a managing partner and fund manager for the […]
Southwest Securities has hired two experienced traders to the firm’s taxable fixed income division. David Cohen joined the firm’s agency trading department in New York City while Brian Rellstab joined the corporate trading desk in Dallas, Texas. The firm’s fixed-income division includes MBS. Cohen most recently was with RBC in New York City where he spent […]
For the moment, the job of ensuring that the nation’s largest banks comply with the terms of last week’s mammoth mortgage settlement falls on just one man.Joseph A. Smith, Jr., North Carolina’s banking commissioner, is charged with ensuring that the five biggest mortgage servicers — Bank of America Corp., JPMorgan Chase, Citigroup, Wells Fargo and […]
Six structured finance partners formerly with Orrick, Herrington & Sutcliffe have joined Chapman and Cutler. Felicia Graham, Douglas Madsen, Michael Mitchell, Mark Riccardi, Craig Fishman and Rachel George joined as partners in the firm’s newly-established office in Washington, DC. Madsen advises financial institution clients such as ABS issuers with a particular emphasis on unsecured consumer ABS and […]
Allonhill Forms Client Service Management TeamGroup to be voice of client within CompanyDENVER (February 8, 2012) – Allonhill, an independent third-party review firm specializing in mortgage due diligence and credit risk management, today announced the formation of a new Client Service Management Team.The team will serve as the primary liaison between Allonhill’s internal and external clients, with […]
Barclays has filed an S-3 with the Securities and Exchange Commission (SEC) to possibly issue under its Barclays Commercial Mortgage Securities Trust. To view the entire SEC filing, please click this link. In the past, Barclays has already participated in other CMBS transactions by using its distribution capabilities for other issuers. Barclays was also one of the […]
K&L Gates has created a new cross-practice task force to help clients address questions and allegations relating to the joint federal and state initiative to form an RMBS Working Group. The new unit is called the Financial Fraud Enforcement Task Force. The group’s formation comes after the recent introduction of the RMBS Working Group as […]
Analytics provider CoreLogic appointed Kevin Wall as senior vice president of its default services business. In his new role, Wall will oversee operations and direct the development of products and services for default services. His main responsibility will be to bring solutions to the default servicing industry that make use of CoreLogic’s technology, outsourcing services and industry data and […]
Senate Minority Leader Mitch McConnell and 38 other Republicans are pledging to file a court brief supporting any legal challenge to the recess appointment of Richard Cordray to the Consumer Financial Protection Bureau (CFPB). In a letter dated late last week, the Republican senators declared that Cordray’s recess appointment and three others to the National […]
Maverick Funding Corp., Parsippany, N.J. has hired away Joshua Shein, the CEO of reverse lender Great Oak Lending (GOL), who brings with him to his new employer roughly 30 employees including 11 loan officers. Jeff Cooper, CEO of Great Oak said his company will remain in the reverse business despite the departures. He added that […]
Couldn’t load more articles. Try again.
