The American Securitization Forum (ASF) released a statement today applauding the House Financial Services Committee’s approval of legislation aimed at stabilizing the ABS market.

European Union leaders will meet tomorrow to discuss the future of Greece but it is likely that talks will extend into the long run as a consensus on what should happen next won't be easy to reach.

A new report by Lender Processing Services (LPS) reveals that the total U.S. loan delinquency rate climbed 2.4% in June to reach 8.15%, while the foreclosure pre-sale inventory rate also rose by 0.2% to 4.12%.

Hudson City Bancorp Inc. is looking for opportunities to increase its residential mortgage originations operations to take advantage of the upcoming drop in the conforming loan limits, its top executive said. The company reported net income of $96 million for the second quarter, down from $143 million one year prior.

The U.S. CMBS delinquency rate declined sixteen basis points in June to reach 9.02%, according to Moody’s Investors Service’s Delinquency Tracker (DQT). The rate of loans in special servicing dropped for the second straight month with a decrease of 27 basis points, settling at 12.35%.

A short-term default is not expected to have any effect on GNMA MBS cash flows because of their collateralized nature, according to a new Barclays Capital report.

When the Consumer Financial Protection Bureau (CFPB) officially opens its doors Thursday, the new agency will be ready to field complaints about credit cards – but not mortgages or servicing performance.

Mortgage applications surged 15.5% in the week ending July 15, said the Mortgage Bankers Association, with the Refi Index jumping 23.1% to ~2733 - its highest level since mid-June. As a percent of total applications, refinancing share increased to its highest level since January to 70.1% from 65.6% previously. The Purchase Index was unchanged at 184.

If the financial industry were made up of nursery rhymes, Wells Fargo & Co. would be Little Jack Horner and Bank of America Corp. would be regarded as Pinocchio.

Elizabeth Warren has spent much of the past year arguing the Consumer Financial Protection Bureau (CFPB) is not as scary as banks think. But as she steps aside, will that really be the case?

Legislation is moving forward that would more definitively exempt rating agencies from a liability that shut down securitized markets at one point last year, according to an industry trade group.

The CRE Finance Council (CREFC) submitted its comments to regulators on the joint regulatory proposal on credit risk retention for ABS.