A federal judge Friday agreed to consolidate two suits National Credit Union Administration (NCUA) has brought against Wall Street banks for their sale of faulty RMBS that went bad and helped cause the failure of U.S. Central Federal Credit Union and WesCorp Federal Credit Union, the two biggest of five corporate credit union failures.
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Neither Western nor Canadian proposals for improving credit rating agency (CRA) efficiency will be effective, according to the latest report from the Canadian non-profit C.D. Howe Institute.
July 26 -
New advances are providing technology to mortgage industry and secondary market participants that allows them to access detailed information about RMBS.
July 26 -
Even though fewer borrowers are delinquent on their home mortgages compared to a year ago, late payments rose in June, compared to May, by 3.4%, according to Lender Processing Services’ latest “First Look” report.
July 26 -
Canadian Imperial Bank of Commerce (CIBC) has added a C$200 million ($197 million) revolving auto dealer floorplan facility to its SAFE Canadian ABCP.
July 26 -
Mitsubishi Corp. will start originating CMBS in the U.S. through a joint venture with Five Mile Capital Partners (FMC), an asset management firm specializing in real estate debt and related products.
July 26
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The U.S. higher education sector is currently facing developing risks such as increased regulatory scrutiny, accreditation tightening, technology challenges, and governance conflicts, according to a Moody’s Investors Service mid-year outlook on the sector released today.
July 26 -
Residential funders issued $34.7 billion of Ginnie Mae-backed MBS in June, down nearly $2 billion from the month prior, but a 32% spike from a year ago, according to new figures released by the agency.
July 26 -
Freddie Mac's weekly mortgage rate survey reported new record lows for 30- and 15-year fixed mortgage rates in the week ending July 26. The 30-year rates averaged 3.49%, down four basis points from last week, with the no point rate at 3.67%. 15-year fixed rates averaged 2.80% versus 2.83% previously.
July 26 -
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Barclays Bank Delaware's (BBD) trust will issue the first credit card securitization that will fall under the Federal Deposit Insurance Corp.'s (FDIC) new Safe Harbor rule, Moody's Investors Service analysts said in yesterday's Credit Card Statement report. The agency adopted the rule on September 27, 2010.
July 25 -
Consumers have become more cautious in using their credit cards as issuers tighten their lending standards. Delinquency rates have also been decreasing.
July 25 -
Hudson City Bancorp—one of the largest buyers of correspondent loans in the New York/New Jersey area—plans to sell more of its production into the secondary market going forward.
July 25
