Finance

The Federal Deposit Insurance Corporation (FDIC) today said Chairman Sheila Bair's official departure will be effective July 8.

A group of mortgage bondholders are seeking to get the defunct H&R Block's subprime lending unit Option One Mortgage to buyback billions in failed mortgages, according to a Reuters report today.

Fannie Mae on Friday reported a first-quarter loss of $8.7 billion after paying preferred dividends, as credit-related expenses spiked.

Markit is launching on May 12 its new Markit MBX, Markit IOS and Markit PO indices based on GNMA agency pools issued in 2010.

MBIA Insurance has filed a motion in the New York State Supreme Court seeking documents from Credit Suisse about RMBS it insured.

Three big banks sought Friday to burst fears about a business lending bubble. Top executives with Comerica, Fifth Third Bancorp and U.S. Bancorp assured investors at an RBC Capital Markets conference in Boston that corporate lending remains safe and lucrative.

As the mortgage industry girds for life under the Dodd-Frank Act, two legislated products are capturing bankers' attention.

Mark Oman, a senior executive at Wells Fargo who helped build the bank’s mortgage business into one of the most competitive in the industry, announced that he will retire by yearend.

Redwood Trust, Mill Valley, Calif., earned $18 million in the first quarter, a 61% decline from the same period a year ago as lower net interest revenue and negative valuation adjustments took a bite out of its performance.

For year-to-date in 2011, global CMBS volume is currently at $11.2 billion comprising 12 deals, according to Dealogic.

Ally Bank is in the market with Ally Master Owner Trust Series 2011-3 (AMOT 2011-3), which is backed by receivables originated in connection with the purchase and financing by motor vehicle dealers of their new and used car and truck inventory, according to a DBRS presale report.

Bank of America Merrill Lynch has hired Alan Todd to be part of its global research group as head of U.S. CMBS research.

Banco Santander Brazil has raised $100 million on the U.S. private placement market through a diversified payment rights (DPR) deal, according to sources.

The New York Federal Reserve has circulated the sixth list from its Maiden Lane II portfolio.

The labor department report on employment figures may show some encouraging signs of recovery.

Wells Fargo, in a new public filing, hiked its estimate for potential losses stemming from foreclosure-related litigation against the bank.

The big question on everyone’s mind at the Mortgage Bankers Association’s National Secondary Market Conference in New York held this week was, when will we see a thriving nonconforming secondary again?

Bank of America Corp.'s mortgage put-back deals last year no longer appear to be the kitchen-sink arrangements they may have initially seemed, and a new settlement in the first quarter spurred anticipation of further concessions.

After boosting its securitized products origination group just last week, Barclays Capital has hired more personnel for its ABS operations.

The nation’s four largest residential servicers – with the exception of Wells Fargo – took large writedowns on the asset value of their residential servicing portfolios in the first quarter, according to an analysis done by ASR sister publication National Mortgage News (NMN).