Although Ocwen Financial agreed to pay more than $2 billion to settle allegations it mishandled foreclosures and mortgages for thousands of borrowers, it could have been even worse for the country's largest nonbank servicer.
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The powerful storm surge produced by Hurricane Sandy has added momentum to the federal governments efforts to farm out a portion of the risk now borne by the National Flood Insurance Program (NFIP), and their appears to be a strong appetite in the private market.
March 3 -
Two of the three major nonbank servicers are sticking by plans to acquire portfolios from banks this year, in spite of regulatory scrutiny and concern they are growing too fast.
March 3 -
PHH Corp. is marketing its first lease term securitization of 2014, a $500 million transaction.
March 3 -
After an extremely slow start to the year, issuance of U.S. collateralized loan obligations is picking up speed.
February 28 -
U.K. lender Paragon plans to issue £350 million ($483 million) of bonds backed by first lien buy-to-let home loans.
February 28
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Australia's Macquarie Bank plans to issue a $500 million auto lease securitization targeting U.S. investors, according a prospectus filed with Securities and Exchange Commission.
February 28 -
La Caisse Centrale Desjardins du Quebec plans to issue the first covered bonds under its recently set up legislative program. The securities will also be the first Canadian covered bonds to be issued this year.
February 28 -
Managers and arrangers of U.S. collateral loan obligations have struggled to satisfy the European Unions risk retention requirement. However, the final draft rules published by the European Banking Authority include a new concession that may assist U.S. managers in accessing an investor base in the region.
February 28 -
Deutsche Bank is the lead manager on the first offering of securities backed by a portfolio of Property Assessed Clean Energy bonds issued by Western Riverside Council of Governments.
February 28 -
Greenfield Partners is shopping $460.2 million of commercial mortgage bonds, according to rating agency reports.
February 27 -
Volvo priced its $679-million equipment-loan deal and GreatAmerica Leasing priced its $423 million transaction.
February 27 -
In yet another roadblock for future deals, January cashflows reported by Blackstones inaugural securitization of single-family rentals fell short of expectations.
February 27