Finance

Total SLABS year-to-date issuance is $3 billion this year. which includes the most recent Sallie Mae offering, Standard & Poor's analysts said in an emailed market summary this morning.

It's no secret that nontraditional players have been gobbling up mortgage servicing rights on the cheap, shifting the power structure in a business that has rapidly seen its fortunes wane during the nation's housing depression.

Some of the biggest players in the CLO industry are embroiled in a contract dispute.

Aurelius Capital Master and UBS have withdrawn from suits against bond-insurer MBIA.

A lack of comprehensive planning by the Treasury Department and an inability to enlist servicer participation has stymied a federal program that provided billions in borrower assistance to state housing agencies, according to an inspector general's report.

Different banks have reportedly started preparing bids for the pontential Maiden Lane III (ML III) sales by the Federal Reserve that were in the news last week.

Residential real estate activity showed “some” improvement in March, but there were few signs of spring for the single-family housing market in the Federal Reserve's Beige Book report released Wednesday afternoon.

FICO's new chief executive is starting in defense mode, as the credit-score giant looks to regain the reputation and business it has lost in the wake of the financial crisis.

Foreclosure filings fell in the first quarter to their lowest level since the end of 2007, according to new figures compiled by RealtyTrac, but the mortgage and housing industries shouldn't pop the champagne quite yet.Default notices, scheduled auctions and bank repossessions were reported on 572,928 properties during the quarter, a 2% sequential decline, and a 16% drop from a year ago.

The JPMorgan Chase Commercial Mortgage Securities Trust 2012-C6 deal expected to price next week is in the market.

Santander U.K. has priced its $1.2 billion RMBS issued under its Holmes Master Trust.

The government controlled Ally Financial Thursday morning filed an amended S-1 statement with the Securities and Exchange Commission, saying it hopes to sell $100 million worth of common stock to the general public.

Freddie Mac reported 30-year fixed mortgage rates plunged 10 basis points to 3.88% as of the week ending April 12 in response to the recent flight to quality.

As per its usual, the auto ABS market this week has been busy with deals. Today alone Bank of America, Toyota Motor Credit Corp. and GM Financial priced their respective auto ABS transactions.

Law firm Mayer Brown has brought on Richard Spitzer as a partner in its insurance finance group.

Corporate bonds offer a valuable relative value benchmark comparison for CMBS 3.0 bonds, according to a report released by Royal Bank of Scotland (RBS) analysts today.

The Prestwick Mortgage Group is offering $128 million of Freddie Mac mortgage servicing rights and hopes to complete the auction by the end of next week.

Charles Schwab is looking for a managing director who will focus on conducting structured finance analysis on ABCP and non-mortgage ABS, according to job database Fins Finance.

The foreclosure crisis is loosening the traditionally strong tie homeowners have with their homes. New findings from FICO's latest quarterly survey of bank risk professionals indicate one way the slow recovery will affect distressed homeowners in 2012 is increased propensity for “strategic default.”

Lenders are hoping the Consumer Financial Protection Bureau (CFPB) will approve a 'qualified mortgage' (QM) rule with a safe harbor, protecting them from consumer lawsuits, but a legal analysis shows lenders may still be vulnerable if they are careless or cut corners.