Finance

A federal judge on Monday indicated he plans to dismiss National Credit Union Administration (NCUA)’s suit against RBS Securities for the sale of failed MBS to WesCorp Federal Credit Union, a ruling that potentially jeopardizes all of NCUA’s claims against Wall Street banks for the failure of the five corporate credit unions.

Commercial banks have experienced an increase in demand for commercial real estate loans since October, according to a Federal Reserve survey released Monday afternoon.

As Rep. Scott Garrett seeks to pass the first significant financial reform law since the Dodd-Frank Act, a lot of forces are arrayed against him.

Moody's Investors Service assigned preliminary ratings to the new U.K. RMBS deal from Lloyds Bank's Arkle master trust.

GE Financial, formerly known as AmeriCredit, is reportedly scheduled to price its auto transaction called AmeriCredit Automobile Receivables (AMCAR) Trust 2012-1 early this week.

One of the co-chairs of the new federal/state RMBS Working Group is preparing to file cases in the next few weeks against Wall Street firms involved in the packaging and selling of RMBS.

Pillsbury has hired Anthony Schouten and Jeffrey Stern for its finance group as partners in New York.

Expanding the debt-to-income criteria and including investors under the new Home Affordable Modification Program (HAMP) proposal can have a significant impact on non-agency RMBS modification volumes, Bank of America Merrill Lynch analysts said.

Barclays is looking to buy up notes in ACA CLO 2005-1, a CLO managed by Apidos Capital Management, in an apparent effort to exercise the deal’s call option.

The National Credit Union Administration (NCUA) is proposing new rules for troubled debt restructurings that will cover how all federally insured credit unions account for delinquencies, charge-offs, and income related to troubled home mortgages.

Bank of America is ready to unload yet another multi-billion package of mortgage servicing rights, according to bidders and industry advisors familiar with the bank's plans.

When weighing financial-aid offers, among students’ concerns are how much debt they will have at graduation and how much they will owe in loan payments each month.

The Treasury Department late Friday unveiled a new plan to expand the Home Affordable Modification Program (HAMP) by increasing the incentive fees it pays investors including Fannie Mae and Freddie Mac for agreeing to reduce the principal amount of a mortgage.

Manager Activity: Autos Book Runner Amount (US$ Mil) Rank Mkt.

Panelists discussed similar housing themes to those that were covered in 2011 at the ASF 2012 Future of U.S. Mortgage Finance panel.

There was much focus on the U.S. consumer at American Securitization Forum's (ASF) ASF 2012 held in Las Vegas.

It may be too early to declare who the winner is, but Bank of America's willingness to settle the $8.5 billion Countrywide suit hints at how big the litigation problem might be for mortgage originators in the courts today.

Monolines that have brought MBS lawsuits to court have used the same facts that class actions and put-back claims have made, but have used a different theory of law as a legal basis for their arguments.

If you are in a class action and someone is representing you, you have the right to "opt out" and bring your own action.

Put-back litigation continues to be a fight for information. Trustees might know that loans within the securitization pool are in breach, the question is whether they are willing to provide the information to investors who need it.