Some investors are wary about the $8.5 billion Bank of America agreed to pay in the MBS-related settlement it worked out with 22 large money managers, but if approved the bank will be giving up more than a one-time cash payout. The settlement imposes requirements on the servicer that appear likely to portend long-term and much broader benefits for investors.
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Wilmington Trust added five capital markets professionals to serve clients in Wilmington, Del., Los Angeles, Calif., and Dallas, Texas.
September 16 -
Lawyers for Barclays Capital last week told a federal court fraud claims regarding a failed CDO it sold to Eastern Financial Florida Credit Union, the biggest ever credit union failure, are barred by the statute of limitations on such securities suits and should be dismissed.
September 16 -
Foreclosure activity increased 7% in August over the prior month – but was down 33% compared to the same month a year ago, according to new figures compiled by RealtyTrac.
September 16 -
Bill Beckmann begins each week with a flight from his home in St. Louis to Washington, D.C. The weekly flights have become a routine of sorts since he took on a job that of late, has become among the most daunting among executive jobs in the mortgage industry, president and chief executive of Merscorp.
September 15 -
Avis Budget Group filed an 8-K with the Securities and Exchange Commission (SEC) yesterday.
September 15
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Reducing the backlog of foreclosures and speeding up the foreclosure process is crucial to reviving the economy, housing experts testified before a Senate panel hearing on Wednesday.
September 15 -
The CMBS market rallied for a second straight day. The sector was boosted by rising equity markets and word that new CMBS deals in September are being well received by investors, according to Trepp.
September 15 -
The number of properties underwater declined slightly in the second quarter, according to a new report released by CoreLogic.
September 15 -
Turkey’s Garanti Bank is in discussion with the Overseas Private Investment Corp. (OPIC) over receiving straight funding or a guarantee in a deal that could potentially be a structured transaction, said two sources familiar with the process.
September 15 -
The once red-hot mortgage REIT sector is in for a cold dose of reality — which could spill over to the already-cool housing market.
September 15 -
The 30-year fixed mortgage rates set a new record low of 4.09% with a 0.7 point that equates to 4.265%, according to Freddie Mac's weekly survey. This is down three basis points from last week's record low of 4.12%.
September 15 -
Now that the Federal Housing Finance Agency (FHFA) has sued the pants off of 17 issuers of nonprime MBS, the big question boils down to this: How much will the agency actually collect?
September 14