As part of an ongoing effort to refinance and reduce its debt post-bankruptcy, CIT Group, a leading provider of financing to small businesses and middle market companies, announced Dec. 22 that it will redeem an additional $2 billion of 7% Series A Second Lien Notes, including the $1.6 billion remaining balance of its Notes maturing in 2015 and approximately $400 million of its Notes maturing in 2016.
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California Attorney General Kamala Harris is expected to join a multi-state settlement with the top five mortgage servicers and New York's AG could soon follow, according to sources familiar with the negotiations.
February 9 -
Bank of America is out in the marketplace with a roughly $35 billion portfolio of residential mortgage servicing rights through Phoenix Capital, Denver, according to investors and investment bankers who have been briefed on the sale.
February 8 -
CIFC Corp. said Tuesday it unloaded a middle market CLO it had put on the block last year.
February 8 -
The Federal Reserve Board on Wednesday unexpectedly postponed its meeting to discuss Capital One Financial Corp.'s $9 billion deal for ING Direct USA until next week, the central bank said.
February 8 -
A House Financial Services panel on Tuesday approved a bill requiring the Federal Housing Administration (FHA) to submit a plan to Congress on how it will avoid a bailout of its financially strapped mortgage insurance fund.
February 8
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The percentage of loans paying off at their maturity date increased in January, according to CMBS data provider Trepp that just released its January Pay Off Report.
February 8 -
Phillips Edison & Co.'s Strategic Investment Fund I closed two CMBS loans totaling $94.5 million.
February 8 -
Barclays has filed an S-3 with the Securities and Exchange Commission (SEC) to possibly issue under its Barclays Commercial Mortgage Securities Trust.
February 8 -
K&L Gates has created a new cross-practice task force to help clients address questions and allegations relating to the joint federal and state initiative to form an RMBS Working Group.
February 8 -
The Federal Reserve Bank of New York has sold a significant portion of its Maiden Lane II portfolio to Goldman Sachs. The residential mortgage-backed securities were sold through a competitive process and had a current face value of $6.2 billion.
February 8 -
Center Parcs group in the U.K. plans to issue a ₤1.020 billion ($1.6 billion) hybrid transaction that blends corporate securitization of the operating business with subordinated high-yield issuance.
February 8 -
New Irish personal insolvency legislation that was proposed in January and expected to become effective in 2013 will introduce debt forgiveness for borrowers viewed as having unsustainable mortgage debt, Moody's Investors Service said in a report released today.
February 8