The Federal Home Loan Banks (FHLBs) stopped purchasing private-label MBS in 2008, but losses on those bad investments have been a major drag on earnings ever since. But that may be changing.
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Goldman Sachs is planning to sell a CMBS called GS Mortgage Securities Corp.Trust 2012. The transaction is backed by a single, non-recourse, first lien mortgage that has an original principal balance of $625 million.
July 17 -
Nord/LB has launched a €500 million ($614.38 million) seven-year German covered bond that is backed by aircraft finance assets.
July 17 -
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
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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 -
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