If Bank of America Corp.'s proposal to settle its MBS claims for $8.5 billion is approved as is by a court, the deal would provide the template for other banks to clean up their own MBS messes.
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The National Association of Independent Housing Professionals (NAIHP) said it has a meeting scheduled for Tuesday with the Federal Deposit Insurance Corp. (FDIC) to discuss the issue of loan buyback claims being forced upon mortgage brokers.
August 9 -
Many more servicers are using deficiency judgments to recoup losses, DBRS analysts said.
August 9 -
Cadwalader, Wickersham & Taft hired Jeffrey Chen for its Hong Kong office as partner. Chen, formerly with Mayer Brown JSM in Hong Kong, will be a part of the capital markets team.
August 9 -
Fannie Mae, in a new quarterly filing, said it is receiving "higher amounts" from lenders on loan repurchase requests while its pipeline of buyback claims on defaulted mortgages continues to grow.
August 9 -
As the stock prices of the big banks cratered on Monday, particularly for Bank of America, pundits and industry observers began worrying that a second financial crisis was in the offing, including the possibility of the failure of a large financial institution.
August 9
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Fitch Ratings intends to have expanded disclosure of representations, warranties and enforcement mechanisms in its global structured finance rating reports starting Sept. 26.
August 9 -
CMBS issuance could edge up in the short run, as predicted by a recent spike in origination, Standard & Poor's said in a release. CMBS conduits origination soared 638% in Q2 year-on-year, and jumped 210% from Q1, according to data from the Mortgage Bankers Assocation released last week. There is a caveat though: recent reports suggest that lending has tanked.
August 9 -
A gauge of CMBS tenant risk in the U.S. has scarcely been nicked by the U.S. downgrade, according to Standard & Poor's.
August 9 -
GSO Capital Partners, the credit arm of private equity firm The Blackstone Group, has priced a $369 million collateralized loan obligation.
August 8 -
SNR Denton hired Scott Samlin as a partner in the capital markets practice. Samlin was previously at Morgan Stanley where he was the executive director for the residential mortgage and lending compliance business. He will be based in New York.
August 8 -
CIT Group has appointed Nelson J. Chai as president, the company said today.
August 8 -
Ares Management is expanding its presence in the European CLO market.
August 8