Finance

CoreLogic said recently hired financial advisory firm Greenhill & Co. will evaluate the company's financial strategy and “explore a wide range of options aimed at enhancing shareholder value,” up to and including a possible sale or merger of the Santa Ana, Calif.-based provider of mortgage and property data, analytics, technology and services.

Bank of America later today is expected to unveil a major announcement about its residential mortgage business, including an update on its future as a correspondent buyer of home mortgages, according to industry officials.

Lender Processing Services' (LPS) July Mortgage Monitor report showed that foreclosure timelines are still on their steady upward trend with payments not having been made on the average loan in foreclosure in a record 599 days.

Late yesterday, Standard & Poor's affirmed ratings on 239 ABS classes of FFELP-backed SLABS that it placed on credit watch negative last July.

Sovereign Bank is taking its credit card operations in house.

Citigroup is marketing Apidos Capital Management’s new $395 million CLO, according to people familiar with the deal.

U.S. Bancorp is requesting the New York state court to make a Countrywide Financial unit to repurchase over 4,000 loans in a mortgage pool. This was done to repair breaches of contract related to improper underwriting, according to a Bloomberg report.

Home prices rose 1.1% in June after a 1% increase in May as values in 19 of the 20 metropolitan areas tracked by the Standard & Poor's/Case-Shiller house price index registered monthly gains.

Municipalities are increasingly holding mortgage securitization trusts liable for the upkeep of properties, which could affect investors' cashflows, according to a new report from Moody's Investors Service.

Bank of America Merrill Lynch analysts said that on the surface, it would seem that the buyout policy shift announced by the Federal Housing Administration on Aug. 26 is negative for GNMA buyers.

The American Securitization Forum (ASF) today just issued a model set comprising repurchase principles for RMBS.

The Obama administration is finally realizing that a major refinancing program to help troubled borrowers could help stabilize the housing market and give the economy a jolt — and it would be particularly effective if it reaches an estimated 11 million underwater mortgagors.

In a widely anticipated move, Bank of America Corp. announced Monday morning that it is selling half of its stake in China Construction Bank to a group of investors for $8.3 billion.

The Federal Deposit Insurance Corp. (FDIC) on Aug. 23 came out with its quarterly list of problem banks. The list decreased for the first time since the start of the financial crisis.

Another CLO manager is on the block.

In the Washington Post last week, housing columnist Kenneth Harney took an interesting look at mortgage loans guaranteed by the Department of Veterans Affairs (VA).

The Federal Reserve Board said Friday it will hold three public hearings on Capital One Financial Corp.'s proposed $9 billion purchase of online bank ING Direct USA.

In recent weeks Bank of America has been telling analysts and shareholders that it is actively selling mortgage servicing rights while offering little, or no, details on what exactly it unloaded – and at what price.

Ginnie Mae said late Friday that it is expanding the parameters for loans to be repurchased from its trusts to include those that have successfully completed a three-month trial payment period.

Pending home sales declined 1.3% to a reading of 89.7 in July from a revised 90.9 in June, according to a report released Monday by the National Association of Realtors (NAR).