Secondary

The initial exchange rate for each $1,000 aggregate principal amount of notes is 42.0893 shares of the company’s common stock.

Kroll Bond Rating Agency has assigned preliminary investment grade ratings to another single-borrower commercial mortgage-backed securities transaction.

The U.S. residential mortgage-backed securities sector continued to account for the majority of downgrades in Fitch’s 2012 global structured finance rating and impairment activity report.

Moody’s Investors Service slammed its rival ratings agencies for their recent assessment of a CMBS deal backed by a single, large loan.

Preferred and common stock of Fannie Mae and Freddie Mac soared after four senators proposed legislation related to the mortgage financiers that were placed into government conservatorships.

More than 20 companies are forming a securitization organization.

Most Mortgage Industry Equity Composite stocks had a good day of trading on Thursday.

Fannie Mae will miss a March 18 deadline for reporting its earnings for the fourth quarter of 2012 while it analyzes how to handle some deferred tax assets.

The American Securitization Forum, the trade group thrown into turmoil this month after most of its board quit in a dispute with its executive director, took its first public action since the defections.

UBS AG and Wells Fargo & Co. are marketing $218 million of bonds tied to commercial mortgages, some of which are in default.