The Four Seasons debt restructuring took another step toward resolution last week with the announcement that the private equity company Terra Firma will fully acquire the second largest for-profit provider of elderly and specialist care services in the U.K.
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Credit card ABS issuer Discover Financial Services (DFS) is finally getting its feet wet in the mortgage origination business, but the lender isn't jumping into the deep end anytime soon.
June 19 -
A funny thing is happening to the market value of mortgage servicing rights: as this volatile asset class continues to wane in price, there’s now less of it out there in the world—a lot less compared to the peak of two years ago.
June 19 -
Redwood Trust is issuing another RMBS called Sequoia Mortgage Trust 2012-3 (SEMT 2012-3). Moody's Investors Service, Fitch Ratings and Kroll Bond Rating Agency are rating the deal.
June 19 -
Given the economic uncertainty in Greece, many investors were interested in the results of the Greek election last weekend that resulted in New Democracy (ND) leader Antonio Samaras winning.
June 19 -
The Consumer Financial Protection Bureau (CFPB) will begin publishing credit card complaints today in a searchable database, allowing the public for the first time to scrutinize the way individual banks handle complaints.
June 19
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The Federal Reserve Bank of New York is selling assets from 11 CDOs forming part of its Maiden Lane III (ML III) portfolio. Offering circulars were released yesterday.
June 19 -
A group of former policymakers are arguing that the government is not making good use of the regulatory reforms enacted in the Dodd-Frank Act nearly two years ago.
June 19 -
The chief financial officer of the now-defunct Taylor Bean & Whitaker (TBW) will be spending at least five years in prison for concealing the fraudulent activities of the privately held mortgage banking company.
June 19 -
For most consumer and commercial asset-backeds, the new draft final rules for risk-based capital are expected to result in capital charges that are higher compared to those under Basel II.5 or III, according to Bank of America Merrill Lynch analysts in a recent report.
June 18 -
Monroe Credit Advisors, an affiliate of middle market lender Monroe Capital, said it added Jeff Knopping as a managing director and partner to open its New York office.
June 18 -
3i Debt Management has hired former Credit Suisse CLO chief Andrew Bellis to head up the firm’s global growth effort, the company said.
June 18 -
The credit scoring system is broken, plain and simple.
June 18