The foreclosure crisis is loosening the traditionally strong tie homeowners have with their homes. New findings from FICO's latest quarterly survey of bank risk professionals indicate one way the slow recovery will affect distressed homeowners in 2012 is increased propensity for “strategic default.”
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The Consumer Financial Protection Bureau Thursday afternoon served official notice that it is seeking comment on a range of issues — including the cost of potential litigation — and whether debt-to-income ratios should be used to determine a borrower’s “ability to repay” a residential loan.
May 31 -
3i Debt Management is buying the majority of Invesco’s European collateralized loan obligation business, the companies said today.
May 31 -
Freddie Mac reported 30- and 15-year fixed mortgage rates set new lows in the week ending May 31.
May 31 -
The Consumer Financial Protection Bureau (CFPB) has decided to delay the issuance of a final ‘Qualified Mortgage’ (QM) rule until after the Nov. 6 elections, industry officials told ASR sister publication National Mortgage News.
May 31 -
Fitch Ratings and Kroll Bond Ratings will rate the $1.1 billion CMBS conduit deal backed by 61 fixed-rate commercial mortgage loans that are secured by 80 properties.
May 30
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How long can a good thing last? Writeoffs of credit card loans have already plunged below levels that issuers consider sustainable. Continued improvement in delinquencies points to a further dip in loss rates in the months ahead.
May 30 -
The commercial mortgage-backed security delinquency rate reached an all-time high in May at 10.04%, up 24 basis points from the prior month, according to the latest data from Trepp.
May 30 -
The president and chief executive of the Mortgage Bankers Association (MBA) David Stevens is stepping down after one year to become the president of SunTrust Mortgage.
May 30 -
Mortgage application activity eased 1.3% in the week ending May 25 with both refinancing and purchase activity lower.
May 30 -
Fitch Ratings has assigned preliminary ratings to the student loan ABS issued by Academic Loan Funding Trust (ALFT) 2012-1.
May 30 -
Clopton Capital is offering a hotel construction program for owners and developers of hospitality properties nationwide. This targets developments with total costs between $5 million and $20 million.
May 30 -
Standard & Poor's in a note released today said that it expects easing underwriting standards to drive subprime auto collateral losses modestly higher versus current historical low levels.
May 30