On Thursday Senators Robert Menendez (D-NJ) and Barbara Boxer (D-CA) introduced a new legislation called Responsible Homeowner Refinancing Act of 2012, which aims to further take out the barriers to refinancing through the Home Affordable Refinance Program (HARP).
- Europe
Commerzbank AG announced on June 26, its plans to wind up its commercial real estate financing and ship financing in a bid to minimize risks and capital lockup in these less profitable businesses.
July 3 -
Lender Processing Services will acquire mortgage origination technology developer LendingSpace in a deal expected to close later this month.
July 3 -
U.S. credit card delinquencies reflect the significant improvement of the card sector over the last two years, according to Fitch Ratings.
July 3 - Europe
Moody's Investors Service downgraded the ratings on 583 tranches in 328 Spanish ABS, RMBS, and CDO transactions to 'A3' and warned of more downgrades to come.
July 3 -
The crisis in mortgage lending and the anger that followed the robo-signing scandal has become a crisis of paper. There are lots of new laws and government guidance that all say some version of the same thing—mortgage lenders have to be wary of how their third-party service providers are following rules designed to protect consumers, or the lender may find itself in noncompliance.
July 2
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The delinquency rate for commercial real estate loans increased for the fourth consecutive month and reached a new all-time high in June, according to Trepp LLC.
July 2 -
CoreLogic's May Home Price Index (HPI) marked the third consecutive nationwide increase in home prices on both a year-over-year and month-over-month basis and and the Pending HPI Forecast shows gains to continue through June.
July 2 -
The American Securitization Forum (ASF) said in a white paper it released today that the single securitization platform for the GSEs outlined by the Federal Housing Finance Agency (FHFA) in its strategic plan could eliminate the pricing disparity that exists among the two agencies.
July 2 -
Although ratings agencies have imposed tougher standards for the top-rated tranches of commercial mortgage-backed securities, it hasn't led to greater issuance of subordinated tranches.
July 2 -
The European Bank for Reconstruction and Development (EBRD)said today in a press release that it has invested $50 million in the first securitization made by a Russian private bank since the beginning of the financial crisis.
July 2 -
In a last-minute reversal, David H. Stevens, the president and chief executive of the Mortgage Bankers Association (MBA), will remain at the trade group rather than departing to run SunTrust Mortgage, as he announced plans to do a month ago.
July 2 -
