Consumers soon will be paying more for government-backed mortgages now that the House and Senate have reached a deal to extend a payroll tax break for two months.The bill (H.R. 3630) pays for the payroll measure by hiking guarantee fees on Fannie Mae and Freddie Mac loans by 10 basis points. Lenders will pay the extra points but, more than likely, will past the cost onto borrowers.
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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 -
Cashel USA Property Partners plans to purchase up to $500 million in distressed single-family residences in the U.S. to convert into rentals that will be serviced by PropertyAccess, a provider of national property management services for professional investors.
February 8 -
Not surprisingly, a new low in mortgage rates buoyed refinancing activity in the week ending Feb. 3.
February 8 -
Consumer debt rose 3.7% year-over-year to $2,498 billion in December, according to Bank of America Merrill Lynch analysts in a report released last yesterday.
February 8
- Europe
Federal Reserve Board Chairman Ben Bernanke attempted to reassure lawmakers Tuesday that U.S. banks were taking steps to limit their exposure to Europe's debt problems, but acknowledged any crisis overseas would have a significant impact here.
February 8 -
Moments before he was scheduled to make a statement on the mortgage servicing settlement Tuesday night, New York Attorney General Eric Schneiderman postponed the conference call indefinitely.
February 8 -
Mortgage servicers continue to modify 25,000 loans a month under the government's Home Affordable Modification Program (HAMP), but that pace could pick up later this summer as new changes to the effort kick in.
February 7 -
Average three-month severities on CMBS conduit loans are at 47%, having steadily climbed since the middle of last year, according to Barclays Capital analysts, who predicted they would stay lofty in coming months.
February 7 -
Freddie Mac has announced its sixth offering of Structured Passthrough Certificates or K Certificates backed exclusively by multifamily mortgages with a seven-year term.
February 7 -
Analytics provider CoreLogic appointed Kevin Wall as senior vice president of its default services business.
February 7 -
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