The Consumer Financial Protection Bureau still has to make a key decision before it can finalize a regulation that will determine what kind of loans -- and features -- mortgage bankers can offer consumers without facing potential legal liability of up to $100,000 per unit.
-
A federal judge Friday dismissed claims by senior WesCorp Federal Credit Union officials that National Credit Union Administration 's (NCUA) may have contributed to the failure of the one-time $34-billion corporate by approving the risky investments that sunk the corporate giant.
March 19 -
An appellate court decision earlier this month would provide a new avenue for borrowers to file suit against mortgage servicers that deny permanent modifications under the Home Affordable Modification Program (HAMP).
March 19 -
Moody's Investors Service has pointed out in a report released late yesterday that the overall level of credit risk in the structured market is inching up. The rating agency predicted that the easing of credit that happened in 2011 will continue into 2012 and beyond.
March 16 -
Mortgage bankers funded roughly $41 billion of Jumbo loans in 4Q11, a 28% increase from the same period a year earlier, according to exclusive survey figures compiled by ASR sister publication National Mortgage News and the Quarterly Data Report.
March 16 -
The week revolved primarily around Tuesday's one-day Federal Open Market Committee meeting. For one that was expected to be relatively uneventful, it turned out to have anything but in terms of the markets' response.
March 16
-
The $25 billion national mortgage settlement essentially allows the five largest servicers to police themselves — which has made many consumer advocates surprisingly happy.
March 16 -
A federal judge indicated yesterday he plans to reject Goldman Sachs' motion to dismiss National Credit Union Administration 's (NCUA) suit and continue the case challenging the Wall Street bank over $1.1 billion of faulty RMBS it sold to U.S. Central Federal Credit Union and WesCorp Federal Credit Union, the two biggest credit union failures ever.
March 16 -
-
Bond-insurer Assured Guaranty Corp. has sued JPMorgan over MBS that Assured says JPMorgan misrepresented.
March 16 -
Reuters news service is reporting that bond insurer MBIA has reached settlements in its lawsuit against the London branch of UBS.
March 16 -
Management at Ally Financial Corp. is considering throwing part of its mortgage division into bankruptcy and then executing a sale of most of its “good” assets, investment banking sources said late Thursday.
March 16 -
Jones Day hired Ilene Froom as a partner in the banking and finance practice based in New York. She previously worked at JPMorgan Chase Bank where she was executive director and assistant general counsel.
March 15
