Deutsche Bank is being sued for more than $1bn by the U.S. government but the bank may find it is shielded from any serious penalty payments because most of the offending mortgages targeted in the lawsuit were generated before the bank bought Mortgage IT, according to analysts at Commerzbank.
-
The 30-year fixed mortgage rates held steady at 4.50% for the week ending June 23, according to Freddie Mac's weekly report. However, points increased to a 0.8 average from 0.7 previously. As a result, the no-point rate increased slightly to 4.70% from 4.68%.
June 23 -
Fannie Mae has selected Susan McFarland to serve as the firm’s next executive vice president and chief financial officer. The appointment will be effective as of July 11.
June 23 -
As one dramatic chapter in Regions Financial Corp.’s history ends, another is about to begin.
June 23 -
The American Securitization Forum (ASF) expressed strong support for the new legislation designed to promote the issuance of covered bonds in a letter sent to Congress today.
June 22 -
Moody’s Investors Service may upgrade some $237 billion of CLOs as a result of a change in its ratings methodology.
June 22
-
A coalition of 44 industry, consumer, community development and civil rights groups have banded together to oppose a regulatory proposal on risk retention that they claim would increase the cost of mortgage credit for average Americans and goes beyond the intent of Congress.
June 22 -
Shadow inventory for residential properties has declined to 1.7 million units in April, according to the analytic provider CoreLogic.
June 22 -
Carrington Property Services has reorganized its residential asset management operations with the aim of creating a “one-stop capability to manage all aspects of the asset management life cycle”, according to a press release from the firm.
June 22 -
A report released yesterday by Lender Processing Services (LPS) shows a -0.1% drop in the total U.S. loan delinquency rate to 7.96%, while the total U.S. foreclosure presale inventory rate fell by -0.7% to 4.11% in May.
June 22 -
In a new agreement with federal, state and independent regulators, Morgan Keegan & Co. will fork over about $200 million as part of its settlement of prior fraud charges related to its subprime MBS vehicles.
June 22 -
Large institutions are starting to reconsider their obligation to make servicing advances to MBS investors as it takes longer and longer to foreclose and liquidate residential properties.
June 22 -
Securities and Exchange Commission (SEC) Chairman Mary L. Schapiro spoke today at the American Securitization Forum’s annual meeting in Washington D.C. to discuss the current state and future of the RMBS market.
June 22