U.S. District Judge Sidney Stein in Manhattan today granted preliminary approval to the agreement and ordered a hearing for Jan. 15.

The payment relief includes the offering of principal reductions to 28,000 borrowers and the refinancing of underwater loans.

The Mortgage Industry Advisory Corp. is offering the portfolio in a one-round, sealed bid auction set for Sept. 24

The SEC wants R.R. Donnelley & Sons to turn over certain due diligence records the firm prepared for investment banks that underwrote the ResCap MBS.

The industry veteran,who most recently served as a senior research fellow at Standard & Poor's, has left the firm to pursue other interests.

The drop, however, was less than the prior week's 9.2% as lower mortgage rates likely sparked some interest.

The investors accused Citigroup of understating the risk of default of the residential loans packaged into two mortgage-backed trusts..

Fitch Ratings predicts that the factors that have contributed to more securitizations of subprime auto loans will remain in place.

Delinquencies in Spanish small or medium enterprise ABS has reached an all time high, with no sign that the trend will diminish in the near term.

The Bank of England’s program of easy money for banks and building societies may not hit ABS and MBS issuance as much as first thought.

Daniel Ornstein joined GoldenTree and is cohead of its trading business along with Corey Geis.

There is a clause in the Treasury’s revised bailout deal allowing Fannie Mae and Freddie Mac to sell up to $250 million of assets in one fell swoop.