Finance

A mortgage banking firm specializing in U.S. Department of Veterans Affairs (VA) loans is trying to sell $4.5 billion of GNMA-backed mortgage servicing rights through Interactive Mortgage Advisors (IMA), Denver.

Servicers will likely avoid extending modifications as part of the $26 billion AG settlement since they will not be indemnified against investor lawsuits, according to a JPMorgan Securities report.

Auto ABS volume keeps getting bigger with three deals this week, further boosting the sector.

The mortgage insurance division of Genworth Financial is beginning to see a noticeable pick up in Home Affordable Refinance Program (HARP) refinancing applications, a sign that the '2.0' version of the program may finally be gaining traction.

In the past three years, the proportion of new-issue non-mortgage ABS deals placed in the private/144A market has risen considerably, according to a recent Barclays Capital report.

Carrington Capital Management, a unit of Carrington Holding Co., and American Home Mortgage Servicing (AHMSI) have agreed to bring to a close the action filed by Carrington against AHMSI in 2009.

Greek drama book-ended the week that led to sharp flight-to-quality trades on Monday and Friday. Meanwhile, Treasury supply weighed on the market the days in between, which caused 10-year note yields to surge to 2.047% by Thursday's close from 1.90% at Monday's close.

More than a day after the announcement of a mammoth national mortgage servicing settlement, the actual terms of the deal still aren't public. The Web site created for the national settlement lists the document as "coming soon."

Massachusetts’ top securities regulator has asked Bank of America to turn over documents related to two CLOs.

Bond-insurer Assured Guaranty Thursday announced it was doubling the quarterly dividend to 9 cents per share.

Bond insurer MBIA has admitted to making errors in its application to regulators seeking to split the company in two.

Depending on who you talked to, the massive mortgage servicer settlement announced Thursday was either a "criminal sell out" or a much-needed shot in the arm for the housing market.

Coming off a strong January for new deals, and encouraged by improved economic news, sentiment in the U.S. CLO market has taken a giddy skip from guarded optimism to bullishness — a little too bullish, according to some market participants.

We've only just begun.That was clear message delivered Thursday by state and federal officials announcing a $25 billion mortgage servicing settlement.

Barclays Capital analysts said in a report released yesterday that large region-specific note and REO auctions have become a regular feature in the past year.

In addition to national mortgage servicing settlement, Nevada has reached a side deal with Bank of America, state Attorney General Catherine Masto announced late Thursday.

The $26 billion 'robo-signing' settlement with five major servicing banks announced Thursday morning could yield nearly $35 billion in principal reductions, according to Housing and Urban Development secretary Shaun Donovan.With less than $20 billion of the settlement designated to principal reduction and refinancing underwater borrowers, secretary Donovan told reporters that the banks will not receive a dollar-for-dollar credit for reducing the principal amount of each loan.

A federal judicial panel denied a motion to include the Dallas County district attorney’s lawsuit against Merscorp in the ongoing multidistrict litigation (MDL) against the private loan registry in Phoenix.

The five largest bank servicers — Bank of America, Wells Fargo, JPMorgan, Citigroup, and Ally Financial /GMAC — today announced a $25 billion settlement with 49 state attorneys general (except Oklahoma), the U.S. Department of Justice, and the Department of Housing and Urban Development (HUD).