Residential Capital Corp./GMAC earned $217 million in the first quarter, but its residential originations plummeted by 53%, as the near-closing of its correspondent division weighed heavily.
- 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 -
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
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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 -
The Federal Reserve governor spoke today at the Federal Reserve Bank of San Francisco conference on challenges in Global Finance.
June 12 -
Global ABS 2011 – Today kicks off Information Management Network’s (IMN) Global ABS 2012 in Brussels. The conference will be held until Thursday, June 14.
June 12 -
The U.S., E.U. and Japan may be at risk of failing to adopt global standards that will greatly improve the quality and quantity of capital that banks must hold, according to global regulators on Monday.
June 11 -
A federal judge ruled in favor of two investors involved in litigation against Bank of America, offering an alternative insiders see as a self-help way to mitigate conflicts of interest between lenders and investors of asset-backed commercial paper.
June 11