Monolines that have brought MBS lawsuits to court have used the same facts that class actions and put-back claims have made, but have used a different theory of law as a legal basis for their arguments.
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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
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The rate of improvement for U.S. subprime RMBS has slowed down, according to Fitch Ratings.
March 12 -
The European structured finance market has seen a rise in the ratio of deals sold to investors over those that are retained, according to analysts at Bank of America Merrill Lynch.
March 12 -
Auto companies are lining up their multiple asset-backed offerings this week. Equipment ABS issuers are also joining the mix of automobile securitizations.
March 12 -
The Department of Justice (DoJ) and the Housing and Urban Development, along with 49 state attorneys general, filed their joint $25 billion agreement with the nation's five largest mortgage servicers in court Monday.
March 12 -
Amherst Securities Group (ASG) examined the historical performance of the non-agency market throughout the housing crisis in a report published late Friday.
March 12 -
Agency MBS certainly dominate the market today in many respects, but as one aspect of the recent strategic plan for the GSEs highlights, the private-label market can be considered ahead of them in terms of loan-level disclosure and it is time for that to change.
March 12 -
Moody's Investors Service has downgraded Ocwen Loan Servicing's rating as a special servicer to 'SQ2-' from 'SQ2'.
March 12