Finance

American Home Mortgage Servicing (AHMSI) has filed a lawsuit in District Court in Dallas County against Lender Processing Services (LPS) and its affiliate DocX to recoup millions of dollars in claimed losses.

Springleaf Financial is reportedly prepping a $292 million RMBS backed by subprime loans that were originated in the past few years, according to a Dow Jones report.

As if the stock market's wild vacillations in the past few weeks weren't evidence enough that few have a firm hold on the U.S. economy's near- and long-term outlook, Fannie Mae this week issued an analysis that says the likelihood of a dreaded double-dip recession is now a 50/50 proposition.

The Obama administration is looking at creating a major refinancing program to help the housing market and give the economy a jolt, according to industry officials.

An Australian CMBS issued by building society IMB called Illawarra Series 2011-1 CMBS Trust is in the market. The A$202.56 ($ 212.68) transaction is the third CMBS for the issuer.

London-based financial advisory firm Rothschild has taken over the CLOs of Elgin Capital.

Investors that are considering objecting to the proposed $8.5 billion Bank of America RMBS settlement may now do so by filing a short form objection seeking further information related to the proposed deal.

The Department of Housing and Urban Development (HUD) is asking Ameritrust Mortgage Bankers to indemnify the Federal Housing Administration (FHA) for possible future losses on 10 loans and reimburse the agency $183,327 for actual losses on at least one mortgage.

Wesco Distribution, a wholly-owned operating subsidiary of Wesco International, has amended its accounts receivable securitization facility.

In a report released today, DBRS said that RMBS deals should benefit from principal forgiveness as a form of loan modification in the longer term.

An N.Y. judge is considering a petition of investors to intervene in Bank of America's proposed $8.5 billion MBS settlement.

Credit card chargeoff rates are on track to finish the year below the levels at which they entered the recession.

Cerberus Capital Management and Chatham Lodging Trust have pulled out of the deal to buy the assets of 66 hotels from bankrupt lodging company Innkeepers USA Trust.

Wyndham Worldwide Corp. is in the market with Sierra Timeshare 2011-2 Receivables Funding (Sierra Timeshare 2011-2) offering worth $250 million.

The national delinquency rate on outstanding home mortgages ticked up to 8.44% in the second quarter, which means roughly $793.4 billion of residential loans are 30 days or more past due.

CHC Helicopter Corp. has increased an existing trade receivable securitization to $75 billion from $55 billion.

The loan-limit countdown has begun. In lieu of lower loan limits on conforming loans and mortgages insured by the Federal Housing Administration (FHA), some lenders have already stopped taking applications for financing in amounts above $625,500.

The biggest short- and long-term challenges facing commercial real estate (CRE) relate to the large amount of debt maturing between now and 2015, said an executive with Deloitte.

Credit card chargeoffs have been plunging since the middle of last year, moving against the tide of an anemic jobs environment but supported by slowing bankruptcies.

Bank regulators have long kept state officials at arm's length, but the Consumer Financial Protection Bureau (CFPB) is forging a close relationship with state attorneys general to enforce consumer banking laws.