Finance

Bankrupt bond insurer Ambac Assurance Corp. has sued Bank of America over MBS that have gone sour.

The residential mortgage division of Ally Financial missed a scheduled payment on its debt Tuesday, laying the ground work for an eventual default if the payment is not made quickly.

Political pressure backed with money can be very persuasive in Washington and it may provide relief for some underwater borrowers with Fannie Mae and Freddie Mac loans.

Assured Guaranty is saying Moody’s Investors Service should upgrade its bond insurance subsidiaries rather than continue to consider downgrading them.

CoreLogic has gained approval from Standard & Poor's to provide third-party due diligence for RMBS rated by the agency.

Payments made by tobacco companies in 2012 under the master settlement agreement (MSA) largely met official estimates, it was announced Monday.

This week auto issuance is once again driving volume in the ABS market with deals from Ford Motor Credit Co., Honda Motor Co. and BMW.

A Consumer Financial Protection Bureau (CFPB) proposal would protect certain information banks provide to the agency, but one prominent group is claiming CFPB doesn't have a right to the information in the first place.

Sometime in June, the long-awaited final qualified mortgage rule will be released. Considerable speculation and debate over variations of the rule have taken place since it appeared in the Dodd-Frank Act. Its ultimate form has implications for access to mortgage credit, its cost, and contingent legal liability, among others.

Oak Hill Advisors has added a partner for its European credit business.

Private-label residential MBS interest shortfalls and liquidity disruptions that Standard & Poor's has been observing are likely to continue for some time, a credit analyst said in an online broadcast.

Mortgage lenders issued $29.2 billion of Ginnie Mae MBS in March, up 5% from the prior month as securitizations of Jumbo and multifamily loans surged, according to new figures released by the government.

The 'qualified mortgage' rule that the Consumer Financial Protection Bureau (CFPB) is working on is expected to limit the kind of mortgages that lenders can make – but may also curb the size of the loans they originate as well.

In a report released today, Barclays Capital analysts said that the potential supply the Federal Reserve's planned sales of parts of its Maiden Lane III (ML III) portfolio should keep a lid on pricing for the AJ tranches on CMBS deals.

Commercial mortgage banker Walker & Dunlop, Bethesda, Md., has hired three new producers in its capital markets group.

Bank of America Corp. (BAC) is preparing to sell off hundreds of foreclosed homes in bulk as part of its ongoing effort to clear out its inventory of distressed assets.

Mortgages slightly outperformed through Thursday as investors took advantage of cheapening that occurred in the early part of the week.

JPMorgan Chase reclassified $1.6 billion of mortgages as nonperforming loans at the urging of regulators — even though the loans are still in good shape, executives said Friday.

Charles Plosser, the president of the Federal Reserve Bank of Philadelphia, on Thursday sided with top regulators in saying they were unlikely to complete the Volcker Rule by its summer deadline."It is not clear at all that we will make the July deadline given the complexities," Plosser told reporters following a speech before the National Economist Club.