Finance

Walker & Dunlop hired Douglas Taylor as senior vice president in its multifamily finance unit.

Apollo Global Management and its subsidiaries bought Gulf Stream Asset Management, which now manages 10 CLOs and has over $3 billion in assets under management.

Sheila Bair today officially stepped down as the Federal Deposit Insurance Corp.'s (FDIC) Chairman.

Babson Capital Management is in the market with a $512 million CLO.

David Tobin, principal of Mission Capital Advisors in New York, attended National Mortgage News' recent Buying and Selling Distressed Mortgage Portfolios Conference and does not agree with those at the conference who said the gaps between bid and ask are too big in this sector.

MountainView Servicing Group, Denver, is offering a forward bulk servicing package where the seller will deliver $25 million to $50 million a month of Ginnie Mae (I and II) MSRs.

While the topic of a House hearing Thursday was supposed to be mortgage servicing standards, the target was really the Consumer Financial Protection Bureau (CFBP).

Prudential Mortgage Capital Co. and affiliated funds of Perella Weinberg Partners’ asset based value strategy have formed a joint venture to originate commercial mortgages for future securitization, the companies said today.

After more than a year of negotiation, one of the most famous CMBS loans ever made has been modified.

Eleven years ago, AXA Investment Managers (IM) was one of the first firms to launch a European CLO, and through the most recent financial crisis, when so many new entrants to the European CLO space found it impossible to stay in business, its products were among the few survivors.

Conventional speed increases on average were in line with expectations. However, speeds on 5% coupons and lower were much faster than projected, while 6s through 7s were slower.

Almost three years to the day of seizing IndyMac Bank, the Federal Deposit Insurance Corp. (FDIC) launched a civil action against its former CEO, saying he "negligently" allowed the thrift to keep making risky loans despite signs of market stress.

Ambac Financial Group, the bankrupt holding company for bond insurer Ambac Assurance Corp., filed a plan of reorganization in bankruptcy court this week, but quickly came under criticism from the Wisconsin regulator in charge of overseeing Ambac Assurance.

The Obama administration announced plans Thursday to give unemployed homeowners struggling to make mortgage payments more time to avoid foreclosure.

Portugal and Greece won't lose access to European Central Bank (ECB) liquidity, said the ECB in separate announcements.

Moody’s Investors Service downgraded Portugal by four notches to 'Ba2' from 'Baa1' with a negative outlook yesterday.

ABN AMRO appointed Patrick Keleher managing director and head of loan syndication in North America, a new role at the Dutch firm.

Two separate MBS-related regulatory settlements involving hundreds of millions of dollars restitution to investors were seen late last month and the Securities and Exchange Commission (SEC) indicated similar cases would remain a priority for it in the future.

Moody’s Investors Services has downgraded the servicer quality (SQ) ratings of JPMorgan Chase and Chase Home Finance. The collective ratings in question are as primary servicer of prime residential mortgage loans from ' SQ1 ' to ' SQ2 ’, and as primary servicer of subprime residential mortgage loans from SQ1 to SQ2. Both will remain on review for possible further downgrade.

As federal agencies work on creating a new servicing fee structure, the Mortgage Bankers Association (MBA) is recommending they consider a reserve account that would be used to pay the higher costs of servicing delinquent loans.