The Treasury Department late Friday unveiled a new plan to expand the Home Affordable Modification Program (HAMP) by increasing the incentive fees it pays investors including Fannie Mae and Freddie Mac for agreeing to reduce the principal amount of a mortgage.
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Prior to the crackup of the housing market, most warehouse providers were ready, willing and able to extend credit to nonbank lending customers based on the value of their retained servicing rights. But then came the crash.
March 14 -
A rise in nonperforming loan sales will be a net positive for commercial real estate, according to Standard and Poor's in a note released this morning.
March 14 -
Given the strong rally in legacy CMBS, many investors are questioning how much and if there is any room for further spread tightening in the sector, FTN Financial analysts said in a report released yesterday.
March 14 -
Prime credit card ABS performance improved in February without near-term challenges apparent. However, retail card results came in mixed, reported the latest index results from Fitch Ratings.
March 13 -
A Maryland real estate investment trust plans to raise up to $1.8 billion in a secondary stock offering, using the proceeds to buy agency MBS.
March 13
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Law firm DLA Piper has hired Richard Reilly as a partner in its global investment funds practice. He’ll be based in the firm’s New York office, but will also work with the London branch.
March 13 -
European banks will likely reprise their former role as major RMBS buyers if the asset class becomes eligible for Basel liquidity requirements, as proposed in the CRD IV implementation draft put out by European Commission, according to analysts at RBS in their weekly ABS report.
March 13
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PHH Corp. named Smriti Laxman Popenoe, executive vice president and chief risk officer at the firm, as interim president for PHH Mortgage.
March 13 -
National Credit Union Administration (NCUA) said Monday morning it will receive $5.25 million from HSBC for settling claims related to MBS it sold to five failed corporate credit unions.
March 13 -
For deals serviced by Wells Fargo, Ally Financial, and Citibank on private-label loans, the mortgage settlement's impact will likely be fairly negligible.
March 13 -
More than a month after federal and state officials announced a massive $25 billion settlement with the five mortgage servicers, the Justice Department on Monday finally released the actual legal document.
March 13 -
The Depository Trust & Clearing Corp. (DTCC) said that the Securities and Exchange Commission has approved its application to operate a new central counterparty (CCP) to limit MBS-related risk and costs.
March 12
