Players in the asset-backed commercial paper market have learned their lessons from the financial crisis and are ready to apply them in the wake of bank downgrades by Moody's Investors Service.
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The Office of Mortgage Settlement Oversight said Monday that it has hired five secondary consulting firms to assist BDO Consulting in overseeing compliance with the $25 billion national mortgage servicing settlement.
August 7 -
WASHINGTON – Freddie Mac reported a $1.2 billion second quarter profit this morning, meaning the housing giant will not require government bailout funds this quarter for the first time since its 2008 federal takeover.
August 7 -
A large majority of banks participating in the Home Affordable Refinancing Program have restricted their refis to mortgages they already service or own, according to a July survey of senior loan officers by the Federal Reserve.
August 7 -
Fortress Investment Group, which controls a large chunk of Nationstar Mortgage, has launched a $500 million private equity fund with a stated goal of buying mortgage servicing rights.
August 7 -
After announcing seven new hires last Tuesday, Gleacher & Co. Securities has added two new hires as part of its efforts to strengthen its MBS & rates division.
August 6
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The for-profit college dropout rate is increasing as reported by U.S. Senator Tom Harkin (D-IA) and the U.S. Senate Health, Education, Labor, and Pensions (HELP) committee.
August 6 -
MountainView Servicing Group, Denver, recently completed the sale of three bulk packages of mortgage servicing rights that had combined balances of $487 million.
August 6 -
The auto securitization pipeline is filling up once again. Ally Financial is getting ready to sell a $1.06 billion ABS deal under its Ally Auto Receivables Trust 2012-4.
August 6 -
Redwood Trust hopes to enter the agency business, according to the REIT’s new Redwood Review report.
August 6 -
Two new collateralized loan obligations priced last week, bringing the total volume for the year to date to roughly $21 billion, according to Bank of America Merrill Lynch.
August 6 -
Fitch analysts said that the performance across CMBS property types has been dependent on the state of office properties, according to Fitch Ratings’ most recent U.S. Structured Finance Snapshot. This sector “will likely continue to see net operating income declines unless the property is in a core market such as New York,” said Huxley Somerville, managing director and CMBS group head.
August 6 -
Barclays Capital said that the new SunTrust Bank Private Student Loan Consolidation Program, announced by First Marblehead Corp. (FMD) on Aug. 2, is beneficial to current and next-pay classes in the ABS market.
August 6