November was the fourth consecutive month of CMBS delinquency decreases, but office properties are still a concern heading into the next year, according to the latest delinquency index results from Fitch Ratings.
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It may be too early to declare who the winner is, but Bank of America's willingness to settle the $8.5 billion Countrywide suit hints at how big the litigation problem might be for mortgage originators in the courts today.
January 27 -
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.
January 27 -
If you are in a class action and someone is representing you, you have the right to "opt out" and bring your own action.
January 27 -
Put-back litigation continues to be a fight for information. Trustees might know that loans within the securitization pool are in breach, the question is whether they are willing to provide the information to investors who need it.
January 27 -
The Federal Housing Administration (FHA) is changing the way it monitors the loan performance of its largest lenders as part of a rule to clarify and codify its indemnification practices.
January 27
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This week's activity was largely dictated by the Federal Open Market Committee (FOMC)statement released mid-day on Wednesday. The FOMC's statement effectively aligned the MBS stars: low rates, attractive carry and relative yield, along with increased odds of quantitative easing 3.
January 27 -
Fitch Ratings said specially serviced CMBS loans have been increasing since last quarter and are probably going to continue on this trend.
January 27 -
The law firm of Shearman & Sterling has named a new deputy head to its leveraged finance group.
January 27 -
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New York Attorney General Eric Schneiderman, U.S. Attorney General Eric H. Holder, Housing and Urban Development (HUD) Secretary Shaun Donovan, and the Securities and Exchange Commission (SEC) Director of Enforcement Robert Khuzami today detailed the core mission of the new Residential Mortgage-Backed Securities Working Group announced by President Obama in the State of the Union address.
January 27 -
A new national refinancing program unveiled by President Obama earlier in the week will rely on the Federal Housing Administration (FHA) to refinance private and GSE mortgages, according to a report from Federal Financial Analytics in Washington.
January 27 -
GE Capital is in the market with GE Capital Credit Card Master Note Trust Series 2012-2 worth approximately $563 million.
January 26
