The National Credit Union Administration (NCUA) said it will receive roughly $5.25 million from HSBC for settling claims against the banking giant related to MBS it sold to five now defunct corporate credit unions.It is the third out-of-court settlement reached by NCUA over the corporate failures, following November deals with Deutsche Bank for $145 million and with Citigroup for $20.5 million.

Standard & Poor's said yesterday it is maintaining its CreditWatch with negative implications on Residential Capital's (ResCap) 'CC' ratings. The rating action was made last Nov. 10.

The Federal Housing Administration (FHA) has revamped a little used program for refinancing underwater conventional loans, and extended its "short refinance" program until the end of 2014.

In a report released today, Deutsche Bank Securities analysts examined the impact of Eastman Kodak Co.’s (Kodak) bankruptcy on the Hollywood and Highland loan in WFRBS 2011-C2.

Amherst Securities Group (ASG) analysts, in a report released today, said that servicers are charging considerably higher rates to borrowers on Home Affordable Refinance Program (HARP) loans.

A federal judge declined yesterday to dismiss charges that Barclays Capital packed a CDO it sold to Eastern Financial Florida Credit Union with junk, hastening the demise of the one-time $2.4 billion credit union, the biggest natural person credit union failure ever.

Moody’s Investors Service has placed the debt ratings of Assured Guaranty and its subsidiaries as well as the insurance financial strength ratings of Assured Guaranty’s insurance subsidiaries under review for possible downgrade.

An Apollo Global Management managed European fund will acquire €650 million ($860 million) of Irish consumer credit card receivables from Bank of America.

The American Securitization Forum (ASF) today submitted a letter urging regulators to delay the Volcker Rule's implementation.

Mortgage application activity declined 7.4% in the week ending March 16 as mortgage rates rose in response to the Federal Open Market Committee's more upbeat assessment of the economy. This muddies the odds that further quantitative easing will be required.

Treasury Secretary Tim Geithner on Tuesday attempted to reassure Republican lawmakers who worry that tough new regulations in this country will put U.S. banks at a disadvantage and that taxpayers will need to bail out struggling European nations.

Moody’s Investors Service is proposing changes to ratings and rating methodologies for public finance bonds secured by mortgages guaranteed or insured by third parties such as states, the federal government, or government sponsored entities.