Residential servicers completed 20% fewer proprietary loan modifications in February than the month prior, according to new figures compiled by the Hope Now servicing alliance.
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Federal Deposit Insurance Corp. (FDIC) Acting Chairman Martin Gruenberg expressed his support for the development of a U.S. covered bond sector at the American Securitization Forum's (ASF) annual meeting. The gathering is being held in Washington D.C. this week.
May 22 -
Freddie Mac has a new offering of its structured passthrough certificates that are backed exclusively by multifamily mortgages with a 7-year term worth roughly $1 billion.
May 22 -
SFC Associates, a securities and financial litigation consultancy, hired Chi Lee, Robert Maroney and Professor Chester Spatt to its structured products team.
May 22 -
Fannie Mae and Freddie Mac MBS should be combined into a single security, according to panelists at this week’s American Securitization Forum annual meeting being held in Washington, D.C.
May 22 -
A Senate hearing Tuesday is expected to highlight a long-running, closed-door battle between regulators over the strength of the Volcker Rule.
May 22
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Panelists at this week’s American Securitization Forum annual meeting fear that reform efforts around shadow banking will significantly curtail credit from non-bank intermediaries.
May 22 -
The Federal Deposit Insurance Corp. (FDIC) has sued Bank of America, Citigroup, JPMorgan Chase and other banks for a cumulative $92 million in damages on MBS, alleging that shoddy appraisals and other underwriting defects tainted their sale.
May 22 -
The National Credit Union Administration (NCUA) has barred the former CEOs of U.S. Central Federal Credit Union and Members United Corporate Federal Credit Union from working for, or with, any corporate credit union due to their roles in two of the biggest credit union failures.Both credit unions went bust because of faulty MBS investments.
May 22 -
BNP Paribas has a €437million ($558 million) securitization of French auto loans.
May 21 -
Nearly 165,000 borrowers have filed requests for reviews on how their servicer treated them in foreclosure—to see if they are entitled to damages—according to new figures released by the Office of the Comptroller of the Currency.
May 21 -
PHH Corp. Monday morning named former General Electric energy executive David Tucker president of its mortgage division.
May 21 -
The Royal Bank of Canada (RBC) looks set to enter the U.S. covered bond market following the green light given by the Securities and Exchange Commission (SEC) last Friday.
May 21