Turning foreclosed properties into rentals on a mass scale will reduce "some of the fears that an avalanche of distressed properties" will rattle the housing market, according to a new report from Wells Fargo Securities (WFS).
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The CMBS new-issue pipeline is still growing. This week adds a new $1.4 billion single-loan deal backed by the Ala Moana Center mall in Honolulu, Hawaii.
April 25 -
The national delinquency rate continued its downward slide in 2012, falling to just over 7% at March 31, down 6% from the month prior, according to new figures compiled by Lender Processing Services (LPS) for its First Look Mortgage Monitor report.
April 25 -
After coming to grips with the dimensions of two critically important and related mortgage rules, federal regulators have decided that one should be finalized before the other: the qualified mortgage (QM) test.As result, the Consumer Financial Protection Bureau (CFPB) will go first and finalize the QM rule, ultimately determining which loans are safe enough for consumers while shielding lenders from litigation provided they adhere to predetermined underwriting standards.
April 25 -
While mortgage rates declined to their lowest levels in the Mortgage Bankers Association's (MBA) survey history for the week ending April 20, refinancing activity did not see a corresponding increase.
April 25 -
The Supreme Court of the State of New York held a hearing on the $8.5 billion Countrywide Financial Corp. settlement case this afternoon.
April 24
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Standard & Poor's today rated a $200 million covered bond deal from Panama's Global Bank, the first of its kind in Latin America.
April 24 -
The Federal Reserve Bank of New York set a Thursday deadline for all bids on the MAX CDO holdings of its Maiden Lane III portfolio.
April 24 -
The Securities and Exchange Commission (SEC) has charged credit rating agency Egan-Jones Ratings Co. (EJR) and its owner and president Sean Egan for material misrepresentations and omissions in their July 2008 application to register as a Nationally Recognized Statistical Rating Organization (NRSRO) for ABS and government securities issuers.
April 24 -
Standard & Poor's reported Tuesday morning that home prices fell in February for the sixth consecutive month to the lowest level since 2002.
April 24 -
Fitch Ratings today released a report looking at the global exposure to refinancing risk in the structured finance and covered bonds markets.
April 24 -
The past is coming back to haunt former Fannie Mae chief executive James A. Johnson.
April 24 -
A $20 billion package of residential mortgage servicing rights being offered by Bank of America has yet to trade even though the bidding ended about two weeks ago, according to investment bankers familiar with the deal.
April 24