Even before the government-controlled Ally Financial threw its mortgage division into Chapter 11 bankruptcy protection, rumors were circulating this spring that the “bank” end of the company would exit the warehouse lending arena.
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The agency’s proposal exempts small servicers from just one of the nine categories in the proposal.
August 29 -
U.S. District Judge Sidney Stein in Manhattan today granted preliminary approval to the agreement and ordered a hearing for Jan. 15.
August 29 -
The payment relief includes the offering of principal reductions to 28,000 borrowers and the refinancing of underwater loans.
August 29 -
The Mortgage Industry Advisory Corp. is offering the portfolio in a one-round, sealed bid auction set for Sept. 24
August 29 -
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.
August 29
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The industry veteran,who most recently served as a senior research fellow at Standard & Poor's, has left the firm to pursue other interests.
August 29 -
The drop, however, was less than the prior week's 9.2% as lower mortgage rates likely sparked some interest.
August 29 -
The investors accused Citigroup of understating the risk of default of the residential loans packaged into two mortgage-backed trusts..
August 28 -
Fitch Ratings predicts that the factors that have contributed to more securitizations of subprime auto loans will remain in place.
August 28 - Europe
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.
August 28 -
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.
August 28 -
Daniel Ornstein joined GoldenTree and is cohead of its trading business along with Corey Geis.
August 28