The Treasury Department has agreed to pay $171 million that it withheld from Bank of America, and JPMorgan Chase after the two servicers fixed problems in how they handled government-backed residential loan modifications.
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The events that affected trading this week revolved primarily around $99 billion in Treasury supply. The Federal Open Market Committee (FOMC) held a two-day meeting with the statement, summary of economic projections and a press conference taking up most of Wednesday afternoon.
April 27 -
At least one dozen — and perhaps more — of Ally Financial’s nonbank warehouse lending customers are searching for back-up lines of credit, fearing the government-owned lender may soon cut back, according to interviews conducted by National Mortgage News this week.
April 27 -
A new €402.4 million ($532 million) Finnish auto loan securitization is marketing this week from SCF Rahoituspalvelut Limited.
April 27 -
Ford’s Motor Co.’s return to investment grade status is a milestone for the auto industry, even if it has emerged from the credit crisis and recession in much better shape than its peers.
April 27 -
Moody’s Investors Service Thursday issued a negative report on the bond insurance industry.
April 27
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It appears that higher premiums are starting to have a profound effect on the Federal Housing Administration’s (FHA) “streamline” refinancing program.
April 27 -
MetLife Thursday afternoon said it will exit the reverse lending business — where it ranks among the top five producers — selling the division to Nationstar Mortgage of Texas.
April 27 -
Corporate fleet-lease ABS year-to-date issuance this year is at $1.3 billion, according to Standard & Poor's analysts in an emailed note released this morning.
April 26 -
The Federal Reserve Bank of New York just announced that it has sold the entirety of the MAX CDO holdings from its Maiden Lane III LLC (ML III) portfolio to Barclays Capital and Deutsche Bank Securities following a competitive bid process.
April 26 -
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.
April 26 -
The 30- and 15-year fixed mortgage rates eased back to within one basis point of their record lows to 3.88% and 3.12%, respectively, in the week ending April 26 said Freddie Mac.
April 26 -
The Federal Open Market Committee (FOMC) said Wednesday that the central bank will maintain its reinvestments of principal payments from agency MBS and debt holdings into new agency MBS.
April 26