The Justice Department announced Wednesday that it has reached a $335 million settlement with Countrywide Financial Corp., now owned by Bank of America, in the largest fair lending action in history.
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Senate Minority Leader Mitch McConnell and 38 other Republicans are pledging to file a court brief supporting any legal challenge to the recess appointment of Richard Cordray to the Consumer Financial Protection Bureau (CFPB).
February 7 -
Maverick Funding Corp., Parsippany, N.J. has hired away Joshua Shein, the CEO of reverse lender Great Oak Lending (GOL), who brings with him to his new employer roughly 30 employees including 11 loan officers.
February 7 -
Conventional speeds declined around 6%-8% in January versus an expected 3% average. The factors impacting CPRs included a lower number of collection days at 20 from 21, which offset the slight 4.0% increase on average in refinancing activity in December as mortgage rates slipped to an average of 3.95% from 3.99%.
February 7 -
The International Finance Corp. expects to fund a landmark $65 million deal with Sri Lanka’s Commercial Bank of Ceylon (CBC) in early March, said an official at the multilateral.
February 7 -
Loan data verification company IMARC has hired Lisa Binkley as senior director of product design and business development.
February 7
- Europe
Multi-asset brokerage and clearing firm Newedge has launched its Agency Cash Management (ACM) platform, an electronic auction facility for the tri-party repo market.
February 7 -
Federal Reserve officials will meet Wednesday to discuss Capital One Financial Corp.'s $9 billion deal for ING Direct USA, the central bank said.
February 7 -
Bank of New York Mellon Corp. has named one of its longtime executives to head up its trust company.
February 7 -
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.
February 7 -
Moody's Investors Service in mid-January updated its rating methodology report for FFELP student loan ABS.
February 7 -
Optimism among market participants regarding CLO issuance in 2012 appears to have increased in the past few weeks.
February 6 -
Two new covered bonds from peripheral Eurozone issuers priced last week. The Italian Lender, Intesa San Paolo issued a €1.5 billion ($1.96 billion), 1.5-year unsecured bond at 295 basis points over mid swaps.
February 6