It appears that higher premiums are starting to have a profound effect on the Federal Housing Administration’s (FHA) “streamline” refinancing program.
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Fannie Mae, which boasts a “credit enhanced” delinquency rate of roughly 8% on its guaranteed loans, is moving closer to launching a pilot program to dispose of some of its nonperforming loans, according to industry advisors familiar with the GSE’s plans.
June 13 -
Standard & Poor's this week reaffirmed Clayton Holdings as a third party due diligence provider for RMBS after the rating agency completed its annual review of the company.
June 13 -
Maureen Stewart joined NewOak Capital as managing director of mortgage credit and compliance services, where she will help establish an “integrated, expert-driven mortgage credit advisory services platform.”
June 13 -
Paramount Residential Mortgage said it has hired former Caliber Funding official Dave Pilotte as its new wholesale manager in charge of the Inland Valley area and Southern California.
June 13 - Europe
The ultimate aim of the European Commission’s (EC) different regulatory initiatives is not to throw out the baby with the bathwater but to ensure that the “baby is able to grow on two solid feet and not create havoc,” said Nadia Calvino, deputy director general at the EC directorate general internal market and services.
June 13
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Expectations for an effort to rebrand Europe’s securitization industry, making it more acceptable to regulators and investors, are decidedly mixed.
June 12 -
GE Capital is issuing two securitizations worth $680 million via the public market.
June 12 -
The Government National Mortgage Association (GNMA) is in no rush to sell the $11.5 billion of mortgage servicing rights that it inherited almost two years ago when nonbank lender/servicer Taylor, Bean & Whitaker failed.
June 12 -
Scholar Funding Trust plans to issue the $219 million student loan securitization, according to a Fitch Ratings presale report.
June 12 -
Discover Financial Services, Riverwoods, Ill., has finally closed on its purchase of LendingTree Loans, also known as Home Loan Center, from Charlotte, N.C.-based Tree.com for a total purchase price of $46 million. An additional $10 million of the purchase price is due on the first anniversary of the purchase, subject to certain conditions.
June 12 -
It appears that Nationstar’s acquisition of the bankrupt Residential Capital Corp. is far from a done deal.
June 12 - Europe
Europe is set to start using its "best practice" label developed under the Prime Collateralized Securities project by the end of 2012.
June 12