The Federal Reserve Board on Thursday released the last details of how two mortgage servicers — Citigroup and HSBC Finance Corp. — plan to fix problems in their home loan servicing and foreclosure processes.
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Wells Fargo's mortgage servicing rights portfolio could have an impact on the bank's capital ratios under the Basel III requirements in the not-so-distant future when interest rates rise, a report from Fitch Ratings warns.
July 17 -
Fitch Ratings has switched to predicting gains in new home prices for 2012 instead of modest declines, due to "overt price increases and mix issues." The average single-family new home price should improve by 4.25% and the median should rise by 4.5% in 2012.
July 17 -
The increase in house prices in April was so widespread that 97% of the nation’s 579 metropolitan statistical areas registered an uptick in values from the month prior, according to Lender Processing Services (LPS).
July 17 -
The transaction called Bealine PLC securitizing airport slots at Heathrow airport operated by British Airways (BA) relies heavily on BA's credit worthiness, Moody’s Investors Service analysts said in a conference call held yesterday.
July 17 -
A U.K. RMBS deal issued by Clydesdale Bank will offer investors three-year and five-year bonds.
July 17
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Jobs are what will get our national economy out of the doldrums. Job growth nationally has flattened out, and at a very low rate, over the past three months. But perhaps even more importantly, mortgage job growth has been flat.
July 17 -
Congress did not intend to impose additional legal liability on lenders that originate properly underwritten loans, according to 106 members of the House of Representatives.
July 17 - Europe
Traccr has enhanced its online negotiation and trading platform for structured products, which now incorporates instant messaging to improve the communication between participants.
July 17 -
The House Financial Services Committee has opened a bipartisan examination of allegations that the London interbank offered rate was manipulated.
July 17 -
A regulator will allow bond insurer MBIA to make a payment on surplus notes issued in 2008, the company said.
July 16 -
In their Securitization Weekly Overview, Bank of America Merrill Lynch analysts highlighted the “unusual” co-existence of the risk-on and risk-off trades that has emerged this year.
July 16 -
After the Federal Reserve Bank of New York made its initial offering in late April of its Maiden Lane III (ML III) holdings, it sold about 58% ($28 billion) of the portfolio, Barclays Capital analysts said in their most recent Securitized Products Weekly.
July 16