The recent $26 billion mortgage settlement announced by the government has received coverage throughout the news media. Twenty six billion dollars is an eye-popping number. But it is important that discerning readers look beyond the number and the headlines to determine what is really going on here and separate fact from rhetoric and political posturing.
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Wider spreads in CMBS can bring down issuance in the sector, according to today's emailed report from Standard & Poor's analysts.
April 11 -
Roughly 33 full-timers will lose their jobs when Ally Financial closes its MBS broker/dealer operation, according to a company spokeswoman.
April 11 -
Mortgage application activity fell 2.4% in the week ending April 6, the Mortgage Bankers Association stated.
April 11 -
Sanctuary Housing Association and its subsidiaries, the Sanctuary Group, plan to issue a £300 million ($477 million) secured bond transaction to support their debt-management strategy.
April 11 -
Newedge has appointed Jeff Pollack as chief financial officer for the Americas based in its New York office.
April 11
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Three banks suing MBIA accused the bond insurer of deliberately withholding damaging financial projections from insurance regulators who were evaluating its transformation.
April 11 -
The Consumer Financial Protection Bureau's (CFPB) latest mortgage servicing proposals have the banking industry seeing dollar signs — and not the good kind.
April 11 -
Home Affordable Modification Program (HAMP) servicers completed 22,260 loan modifications in February, up 24% from the prior month, according to a Treasury Department report.
April 10 -
National home prices declined in January from December by 0.9%, reaching a level not seen since March 2003, according to Lender Processing Services (LPS).
April 10 -
After having gone through an enormous disruption characterized by unexpected deterioration and massive losses, investors in residential mortgage-backed securities have a number of reasons to feel unsettled. Regulatory uncertainty clouds the market's future and mortgage originations remain at historically low levels despite housing affordability reaching its highest level since the National Association of Realtors began keeping records in 1970.
April 10 -
The Consumer Financial Protection Bureau (CFPB) has outlined rules that it is considering for residential mortgage servicers.
April 10 -
In prepared remarks today, Acting Federal Housing Finance Agency (FHFA) Director Edward DeMarco said his preliminary thoughts on using Treasury incentives to offer principal forgiveness to underwater borrowers.
April 10