The Securities and Exchange Commission today charged investment management company Oppenheimer Funds' sales and distribution arm for misleading investors about the extent of the exposure of two of its mutual funds to CMBS in the midst of the credit crisis in late 2008.
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Mortgage application activity was essentially flat in the week ending July 27, as a decline in purchase activity offset a slight 0.8% increase to roughly 5464 on the Refinance Index - its highest level since mid-April 2009, according to the Mortgage Bankers Association (MBA).
August 1 -
Maybe housing really is back. Standard & Poor's reported Tuesday morning that its 20-city house price index rose for
July 31 -
Ed DeMarco, acting director of the Federal Housing Finance Agency (FHFA), said Tuesday that struggling borrowers whose loans are owned by Fannie Mae and Freddie Mac will not be allowed to wipe out part of their mortgages under a government program, defying pressure from the Obama administration and top Democratic lawmakers.
July 31 -
Barclays Capital, Citigroup Global Markets, Credit Suisse and Deutsche Bank Securities were among the winning bidders for the sale of roughly $4.5 billion of additional assets from the Maiden Lane III (ML III) portfolio, the New York Federal Reserve said in a press release today.
July 31 -
For those in the market who believe bank lending criteria has gotten too tight, a recent survey from Fair Isaac Corporation (FICO) has some good news.
July 31
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Wells Fargo Home Mortgage is embracing residential reforms mandated by the new national servicing standards, regulatory consent orders and the Dodd-Frank Act, according to an executive at the nation’s largest servicing shop.
July 31 -
There were 60,000 completed foreclosures in the U.S. in June 2012, according to CoreLogic’s National Foreclosure Report for June released today.
July 31 -
Marathon Asset Management has appointed investment services provider BNY Mellon as trustee, collateral administrator, paying agent and calculation agent for its $356 million CLO.
July 31 -
Knight Capital Group hired Robert Cestari and David Simek for its institutional fixed-income sales and trading group.
July 31 -
Babson Capital Management has launched a middle market lending group, the Springfield, Mass.-based investment management firm said.
July 30 -
The securitization market kicks off this week the way it usually does nowadays — with an auto ABS transaction.
July 30 -
Barclays Capital analysts believe that the temporary and minor increase in prepayments from the Special Direct Consolidation program will have a limited effect on FFELP ABS bond valuations, according to the firm’s latest Consumer ABS Weekly.
July 30