After a yearlong effort to reach a multistate settlement with the top five mortgage servicers, state attorneys general and the firms involved finally appear to be close to a deal.
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Investors who purchase distressed loans at a discount are among those in a good position to sense how problem assets might best be resolved, and one of these players believes more aggressive refis and mods and fewer government constraints on lending could help.
March 27 - Europe
Italian leasing asset-backed securities (ABS) performance deteriorated in the three-month period leading to January 2012, according to the latest index report published by Moody's Investors Service.
March 27 -
State Street Global Markets' Investor Confidence Index(ICI) for March 2012 showed that the outlook of both American and European institutional investors improved.
March 27 -
The CRE Finance Council Europe and Ernst & Young released a joint European commercial real estate lending tax guide.
March 27 -
Nomura Securities analysts said that since the start of 2012, they have seen an issuance surge in equipment ABS sector with roughly $3.7 billion issuance across five deals versus $1.65 billion issued in the first three months of last year.
March 26
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It is hard to deny Richard Cordray's hiring to run the Consumer Financial Protection Bureau (CFPB) nearly four months ago is a flash point in continuing debates over regulatory appointments and implementing the Dodd-Frank Act.
March 26 -
Analytics provider CoreLogic has a new service to assist originators identify potential loans that can fall under the Home Affordable Refinance Program 2.0 (HARP 2.0).
March 26 -
Volumes for non-investment grade bonds steadily increased throughout 1Q12, with three spikes happening on Jan. 19th, Feb. 8 and 28 that coincided with the dates of the New York Federal Reserve’s Maiden Lane II sales, according to Bank of America Merrill Lynch data.
March 26 -
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.
March 26 -
Swiss Re has done a $200 million 144A multi-peril natural catastrophe risk deal via Combine Re. This offering is the first catastrophe bond to combine the risks of two reinsured parties.
March 26 -
In a note released this morning, Standard & Poor's analysts said that without the potential regulatory hurdles, the conduit B-piece demand will be sufficient to support the estimated CMBS issuance this year.
March 26 -
New York's Suffolk County's tobacco ABS is in the market. The deal, worth $38.1 million, is called Suffolk Tobacco Asset Securitization Corp. Series 2012.
March 26