Residential servicers completed 65,000 foreclosures in February, an 8% decline from the prior month and just about flat from the same period a year ago, according to new figures compiled by CoreLogic, Santa Ana, Calif.The firm said roughly 1.4 million homes -- 3.4% of all units encumbered by a mortgage — were in the foreclosure during the month, compared to 1.5 million in January.
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In a emailed note released early this morning, Standard & Poor's analysts said that they expect auto-related ABS issuance to continue to track vehicle sales for the remainder of 2012.
May 17 -
To resolve billions in failed-bank loans that had no buyers at the point of closure, the Federal Deposit Insurance Corp. (FDIC) has formed 32 complex vehicles to carry some of the agency's load from the crisis. But not everyone is a fan of the deals.
May 17 -
Deliquencies for bankcards were lower or stable in April for six major issuers, although charge-offs were higher for four lenders, Standard & Poor's analysts reported in their midday commentary.
May 16 -
Mortgage delinquencies continued on their downward path in the first quarter with 7.4% of all loans considered past due, the lowest reading since the third quarter of 2008, according to new figures compiled by the Mortgage Bankers Association.
May 16 -
Morgan Stanley isn’t the only bank marketing a CLO this week; its competitors are shopping at least four other deals.
May 16
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Two New York Senate Committee chairmen have raised the possibility of investigating bond insurer MBIA’s behavior in applying for a transformation of the company in 2008 and 2009.
May 16 -
When Residential Capital Corp. filed for bankruptcy protection earlier this week it left behind a trail of unsecured creditors with claims totaling well over $1 billion, according to court documents.
May 16 -
Federal Deposit Insurance Corp. (FDIC) General Counsel Michael Krimminger will be leaving the agency later this month to join the law firm of Cleary Gottlieb Steen & Hamilton as a partner in its Washington, D.C., office.
May 16 -
The Mortgage Bankers Association (MBA) reported a 13% surge in the Refinance Index to ~4220 from 3735 for the week ending May 1, while refinancing share as a percent of total applications rose to 74.9% from 72.1%.
May 16 -
Moody's Investors Service today commented on how it evaluates the effect of global and bank credit deterioration in Europe on structured finance securities.
May 16 -
False information provided to a regulating body considering the division of bond insurer MBIA into two parts should invalidate the split, according to the attorney for the banks suing MBIA in a hearing Tuesday.
May 16 -
The Federal Housing Administration (FHA) — which holds title to 700,000 seriously delinquent mortgages — plans to ramp up its single-family nonperforming loan sale efforts, according to housing commissioner Carol Galante.
May 15