As key interest rates turned negative this year in Europe, everyday financial transactions entered the realm of fun-house mirrors.
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Morgan Stanley agreed to pay $3.2 billion to end a joint federal-state investigation into its handling of mortgage-backed securities, the fourth deal to be struck in a probe of the big U.S. banks' role in the subprime mortgage meltdown and the financial crisis it spawned.
February 11 -
Spreads on the companys latest offering of Connecticut Avenue Securities were well wide of levels on the previous deal, completed in October; and that deal, in turn, priced wide of the previous offering in July.
February 11 -
The Federal Home Loan Bank System was designed to provide liquidity to community lenders and traditional insurers, not to unregulated lenders that circumvent the membership rules.
February 11
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Add this the list of things working against a revival in private-label securitization of residential mortgages: investors are rejecting loans at unprecedented rates because they do not comply with new regulations.
February 11
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Citigroup, German American Capital Corp. and Wells Fargo are marketing $765 million in commercial mortgage bonds associated with the mortgage the three originated for lower Manhattans 225 Liberty Street skyscraper.
February 10
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Fannie Mae is marketing its first offering of the year of Connecticut Avenue Securities, which offload some of credit risk of mortgage that it insures, according to rating agency reports.
February 10 -
Markit has acquired systems integration software from JPMorgan that will allow the information services company to offer its global syndicated loan clients more automated trade processing services.
February 10 -
Redwood Trust said Tuesday it will stop originating commercial mortgages for securitization and focus solely on investing in bonds backed by commercial mortgages originated by others.
February 10 -
SolarCity is testing the market for securities backed by solar panel leases for the first time since three states introduced legislation that raises questions about the cost savings associated with these assets.
February 9 -
The forthcoming $875.1 million Wells Fargo commercial mortgage pass-through certificates securitization pools a smaller concentration of larger loans but also has more exposure to single-tenant properties.
February 9 -
U.S. Bancorp agreed to pay $10 million while Banco Santander settled for $3.4 million following missteps in how they handled earlier orders from regulators to fix faulty foreclosure practices, according to the Office of the Comptroller of the Currency.
February 9
