HSBC's residential lending and servicing business continues to be under what the bank calls a “strategic review,” leaving its mortgage workers in limbo.Servicing advisors say the bank has considered selling its Depew, N.Y., servicing platform and its roughly $42 billion of receivables, but hasn't liked the bids offered thus has far.
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Third-party review firm Allonhill has responded to a letter from the Office of the Comptroller of the Currency (OCC) telling the firm that it will no longer be able to continue its file review in the Independent Foreclosure Review.
May 14 -
MBIA lost more than a half billion dollars in the 1Q12. The company’s adjusted pre-tax loss was $548 million in the quarter, compared to a $25 million profit in the first quarter of 2011. Its adjusted book value slipped to $32 a share from $34.50.
May 13 -
The Office of the Comptroller of the Currency (OCC) has dismissed one of the consultants overseeing a massive foreclosure review after it discovered a conflict of interest in outside work the company has performed.
May 13 -
On Thursday Senators Robert Menendez (D-NJ) and Barbara Boxer (D-CA) introduced a new legislation called Responsible Homeowner Refinancing Act of 2012, which aims to further take out the barriers to refinancing through the Home Affordable Refinance Program (HARP).
May 11 -
Ally Financial has been reportedly working on plans for a pre-packaged Chapter 11 bankruptcy filing for its troubled Residential Capital (ResCap) unit.
May 11
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In emailed research today, Standard & Poor's analysts said that year-to-date auto sales through April increased 10.3% from the same period last year.
May 11 -
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Flows this week moved down in coupon as investors added duration on the strong flight-to-safety bid. They also responded to faster-than-expected Home Affordable Refinance Program (HARP) refinancing activity in April.
May 11 -
Clopton Capital plans to expand loan options for owners and operators of gas stations nationwide.
May 11 -
Surprise losses on JPMorgan Chase & Co.'s synthetic credit portfolio have racked up $2 billion in mark-to-market losses, the bank reported late Thursday.
May 11 -
Freddie Mac's new chief executive, Donald Layton, urged critics to keep an open mind about the troubled GSE and pledged to focus on "the nuts and bolts" to improve efficiency.
May 11 -
Residential lenders issued $36.4 billion of Ginnie Mae MBS in April, a 25% spike from the prior month, according to new figures released by the agency.
May 11
