A federal judge issued a ruling this morning suggesting that the statute of limitations may have expired on National Credit Union Administration’s (NCUA) claims that Wall Street banks sold MBS they knew were faulty to corporate credit unions, potentially rendering NCUA suits filed earlier this year moot.
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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
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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