Finance

Petroplus Holdings AG has implemented a new receivables securitization program, which will provide up to $200 million through the sale of the company’s U.K. receivables.

The American Legion is calling on Congress to extend the $729,750 loan limit on Department of Veterans Affairs (VA)-guaranteed loans before the ceiling drops down to $625,500 on Jan. 1.

American Airlines' bankruptcy could create some collateral damage for Citigroup Inc., which runs the airline's large rewards credit card program.

Pending home sales surged 10.4% to a reading of 93.3 in October from an unrevised 4.6% decrease to 84.5 in September, according to a report released Wednesday by the National Association of Realtors (NAR).

Goldman Sachs head of global leveraged finance is retiring, according to an internal firm memo.

Assured Guaranty has filed suit against JPMorgan Chase Bank with regards to the sale of MBS by Bear Stearns. JPMorgan acquired Bear Stearns in 2008.

ING Bank is marketing a €1.28 billion ($1.72 billion) securitization of prime Dutch residential mortgage loans.

Santander Consumer Finance SA will issue a €912.3 million ($1.34 million) securitization of auto loans.

The Consumer Financial Protection Bureau said Wednesday that it may begin taking consumer complaints related to home mortgages as early as tomorrow.

Edward DeMarco, acting director of the Federal Housing Finance Agency (FHFA), on Tuesday named Richard Hornsby as chief operating officer and Jon Greenlee as deputy director of enterprise regulation.

The Consumer Financial Protection Bureau (CFPB) is initiating a process for streamlining and updating its consumer regulations with bureau officials seeking public input on which rules should be looked at first.

Radian Guaranty is seeking waivers in 12 states of risk-to-capital requirements, even though it does have $600 million in capital at the parent company level available to downstream to the mortgage insurer, chief financial officer Bob Quint said during a presentation at the FBR Capital Markets Fall Investor Conference.

For the week ending Nov. 25, mortgage application activity plunged 11.7%, as reported by the Mortgage Bankers Association (MBA). The results were adjusted for the Thanksgiving Day holiday.

The National Credit Union Administration (NCUA) said this afternoon if filed another suit against a big investment firm over the sale of MBS to failed corporate credit unions, this one naming defunct Wachovia Bank and its subsidiaries as defendants.

United Guaranty (UGI) has decided to increase its participation in the newly revised Home Affordable Refinancing Program (HARP), issuing new guidance to servicers of Fannie Mae and Freddie Mac loans.

Roughly 22.1% of all residential properties – 10.7 million units — encumbered by a mortgage were in a negative equity position at the end of September, a slight decline from mid-year, according to new figures compiled by CoreLogic, Santa Ana, Calif.

The Federal Housing Finance Agency (FHFA) repeatedly defers to Fannie Mae and Freddie Mac without independently testing their decisions, according to a report released Tuesday by a government watchdog.

Investors are going to face a shortage of very high quality short-end paper. This is because there is much less being issued than will be maturing through the end of next year, Amherst Securities Group (ASG) said in a report released late yesterday.

Guggenheim Partners affiliate Pillar Multifamily has agreed to buy Fannie Mae-eligible loans sourced by Tremont Realty Capital under a correspondent agreement between the two companies.

The Office of the Comptroller of the Currency (OCC) released a proposal Tuesday that would remove references to credit ratings from its regulations, and posted guidance to help banks evaluate investment risks.The Dodd-Frank Act requires federal agencies to review regulations that required banks to use credit ratings to asses the creditworthiness of a security or money market instrument. Under the law, regulators must modify the rules to remove the references to credit ratings, and substitute them with an alternative standard.