The head of restructuring at UBS has left the investment bank and may be joining the Aurora Capital Group, according to reports.

In a best case scenario, consumers might save upwards of $63 billion a year if Fannie Mae and Freddie Mac participated in a workable refinancing program for underwater borrowers, according to a new report from Moody's Investors Service.

In a memorandum and order filed today, U.S. sourthern district of New York court judge Barbara Jones granted Morgan Stanley's motion to dismiss Retirement System of the Government of the Virgin Islands' class action suit against the bank.

Even though GSE and Federal Housing Administration (FHA) loan limits will decline to $625,500 at midnight Friday, borrowers with high balance FHA-insured loans can still refinance these products as long as they don't engage in a cash-out refinancing.

Irvine, Calif-based Carrington Mortgage Services some time this month is expected to issue its first GNMA security, one company official told ASR sister publication National Mortgage News recently. Carrington is a fast growing retail/wholesale lender.

DoubleLine Capital's the DoubleLine Funds Trust launched the DoubleLine Low Duration Bond Fund.

Santander Consumer is in the market with an auto deal under its Santander Drive Auto Receivables Trust 2011-4. The company filed with the Securities and Exchange Commission (SEC) for a $750 million offering.

Kevin C. O'Connor has joined Point Capital Partners, LLC (PCP) as a Partner.

Banks in Europe will try to unload roughly 15 billion euros ($20 billion) of loans secured by commercial real estate in Europe through 2012 as they comply with tighter capital regulations, according to Situs Companies, a debt advisor.

Boston Federal Reserve Bank president Eric Rosengren wants Fannie Mae and Freddie Mac to do more to refinance homeowners and address housing market problems.

Nine major servicers regulated by the Office of the Comptroller of the Currency completed 180,000 foreclosure actions in the second quarter, but these firms are still managing roughly 1.3 million borrowers who are going through the foreclosure process.