Democratic Rep. Gary Ackerman plans to introduce legislation aimed at jumpstarting the housing market by providing two new enticements to homebuyers.

During a downturn, consumers are much more likely to use — and to repay — general-purpose credit cards than retail cards, and pretty much every major retail issuer tried to bail out of the business at some point over the last few years.

Markit has teamed up with the Depository Trust & Clearing Corp. (DTCC) to boost the secondary market for leveraged loans by providing simultaneous transfer of cash and loan assets.

Close to 96% of the non-agency RMBS that were either traded/offered over the past month had a National Association of Insurance Commissioners (NAIC) 'NAIC 1' rating, according to a report from Amherst Securities Group (ASG).

The bankruptcy court signed off on Lehman Brothers Holdings’ plan to generate as much as $2 billion for creditors by securitizing a portfolio of commercial loans.

Lewtan appointed Salil Donde as chief executive officer. Donde joins Lewtan from Marshall & Swift/Boeckh, a provider of essential property information solutions.

The number of private student loans defaulting in 2Q11 increased by 5% from 1Q11, according to the Moody's Investors Service Private Student Loan Indices.

Atlanta-based SunTrust Banks said C.T. Hill, its corporate executive vice president and head of consumer banking and mortgage, would now have his primary focus on the company's mortgage business.

Bank of America Corp. may settle a state and federal probe of foreclosure practices in a deal that allows New York to proceed with an inquiry into securitizations, said a Bloomberg report citing two people with direct knowledge of the talks.

Avis Budget Rental Car Funding (AESOP) is in the market with a $300 144A deal called Avis Budget Series 2011-5.

Mortgage application activity increased a modest 4.1% in the week ending Aug. 12 despite further declines in mortgage rates, reported the Mortgage Bankers Association (MBA) this morning.

The Knights of Columbus late Tuesday said in a press release that it has expanded a case against the Bank of New York as trustee for 18 RMBS trusts originally issued by Countrywide with additional claims of breach of contract, among other things.