Finance

During a pair of appearances Tuesday on Capitol Hill, top housing officials from the Obama administration sought to reassure members of Congress about the financial condition of the Federal Housing Administration.

The Federal Reserve Bank of New York announced the sale of the rest of the securities in the Maiden Lane II LLC (ML II) portfolio.

The Secretary of the Commonwealth of Massachusetts has fined State Street Corp. $5 million over its role as investment manager in the Carina CDO.

Wells Fargo & Co. unveiled specific new terms in the national mortgage servicing settlement on Tuesday, providing the most detailed summary to date of what concessions banks did and did not win from federal and state officials.

Freddie Mac announced a new offering of its multifamily MBS called Structured Pass-Through Certificates.

Traccr has said that a structured products specialist Swiss client has executed a $5 million bespoke credit-linked note (CLN) through the firm's electronic platform.

The Carlyle Group said today it completed the acquisition of the management contracts of four European CLOs with total assets of €2.1 billion in from Highland Capital Management, an alternative asset management firm based in Dallas.

Domino's Pizza said today it plans to issue a new securitization deal that will refinance outstanding debt tied to a $1.85 billion 2007 securitization deal.

Huntington National Bank is planning to sell an auto transaction worth $1 billlion. For the Securities and Exchange Commission filing related to the offering, please click link.

Steep spreads in the Eurobond market may provide incentives for Turkish banks to issue deals backed by diversified payment rights (DPRs) this year, said Standard & Poor's in a text box accompanying a video presentation on Turkish DPRs.

The Federal Housing Administration (FHA) is following through with its pledge to increase upfront and annual insurance premiums on its forward single-family business.

The backlash against the Volcker Rule has officially gone global. While U.S. banks are still up in arms about how regulators propose to implement the trading ban, the protests sound just as loud from foreign institutions and even their governments, which fear the U.S. is stepping outside its jurisdiction.

Fitch Ratings thinks that the decision Monday by the U.S. Appeals Court in Manhattan to send back the proposed $8.5 billion Countrywide Financial Corp. (CFC) RMBS settlement back to state court might facilitate its approval. Bank of America Corp. (BAC) bought CFC in an all-stock deal in 2008.

U.S. consumers are still in the process of de-leveraging, mainly by reducing their residential mortgage debt, Standard and Poor's analysts cited fourth quarter 2011 New York Federal Reserve data.

Bond insurer Ambac Financial Group is offering the Internal Revenue Service (IRS) $102 million to settle the agency’s $800 million claim against it.

Fannie Mae has hit the market with a 2,490-REO package designed for bulk investors – the first such pilot auction promised by its regulator, the Federal Housing Finance Agency (FHFA).

Redwood Trust – the nation’s only active securitizer of Jumbo MBS – posted a $3 million loss in the fourth quarter, compared to a profit of $15 million in the year ago period, but is promising to plough ahead in the PLS market.

Fannie Mae late Friday finally had something to say about Bank of America's announcement that it would no longer sell new purchase money loans to the GSE: it hopes to resolve the buyback disputes between the two parties.

Should Ally Financial break itself up, Ocwen Financial Corp. and private-equity shops might be interested in Ally's mortgaging servicing arm, Residential Capital, which has mortgage servicing rights of $1.2 billion on mostly impaired loans, Keefe, Bruyette & Woods (KBW) analysts wrote in a research note last week.

Cabela's is in the market with a $350 million credit card securitization, according to a Bloomberg report.