Fitch Ratings said today that its policy on unsolicited ratings will be initiated only if there is strong investor interest and if it has a materially different credit opinion on a transaction compared to the mandated agencies.
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Walker & Dunlop named Michelle Warner and Edward Williams as co-heads of its FHA finance division. They will be responsible for all aspects of the Federal Housing Adminstration (FHA) finance program.
August 2 -
The Mortgage Bankers Association (MBA) fears that when the Federal Housing Finance Agency (FHFA) finally unveils its servicing fee structure proposal it will contain just one compensation model, and is appealing to the agency to include more.
August 2 -
Fannie Mae purchased $41.4 billion of home mortgages from its seller/servicers in June, its best purchase month of the second quarter, and a sign that originations in the primary market may be on the upswing.
August 2 -
Fixed-income investment professionals are worried about the prospects for the U.S. economy and are becoming very concerned the continuing stagnation in the jobs market.
August 2 -
A scholarship fund in Bingham McCutchen partner Edward Gainor’s memory has been established by the law firm at his alma mater The George Washington University (GWU) Law School. Gainor died July 22 of a heart attack.
August 2
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CarMax Business Services via its CarMax Auto Funding yesterday filed an amendment to an S-3 filing it submitted with the Securities and Exchange Commission (SEC).
August 2 -
The 30+ delinquency rate on CMBS shot up in July to a record 9.88%, according to a report by Trepp. This comes after two consecutive declines in the delinquency rate in May and June.
August 2
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The Chicago city ordinance establishing mortgage lender liability for vacant buildings that are caught in the foreclosure process will be credit negative for RMBS deals, Moody's Investors Service said.
August 2 -
National lender and servicer Carrington Mortgage Services (CMS) has expanded its mortgage origination unit by purchasing certain assets of American Home Equity Corp. (AHE). Mortgage lender AHE is based in Irvine, CA based.
August 2 -
The mortgage operations at Ally Financial lost $127 million for the second quarter due to its legacy portfolio, down from profits of $34 million in the first quarter and $230 million for the second quarter 2010.
August 2 -
David Stevens arrived as a commissioner at the Federal Housing Administration (FHA) in 2009 vowing to restore financial discipline to a government housing body facing the stresses of a post-crash world.
August 2 - Europe
Allied Irish Bank (AIB) is selling off its international financial services business to Captia for £29 million ($47.2 million), according to market reports.
August 2
