Finance

A proposed settlement with the top five mortgage servicers could prolong the foreclosure crisis, drive up mortgage interest rates, slow new home construction and cost $7 billion to $10 billion a year, according to a study from three top economists.

DBRS has conducted recent analysis that showed that the national average timeline from 30- days delinquent to REO is currently at 23 months.

After the Federal Reserve Bank of New York conducted its first auction of Maiden Lane II (ML II) bonds last week, it is following up with two auctions this week.

The only bank that has been penalized for mortgage servicing lapses got slapped for doing the opposite of what state attorneys general have been demanding.

State attorneys general and Consumer Financial Protection Bureau (CFPB) officials on Monday agreed to cooperate on enforcement actions and work together to prevent evasions of consumer protection laws.

The Federal Home Loan banks and their members are urging the Federal Housing Finance Agency (FHFA) to scrap a proposal that would make it tougher to join — and stay a part of — the cooperative system.

The Obama Administration’s white paper on the future of the GSEs may have muddied the issue as much as it clarified it.

Nissan Motor Acceptance Corp. (NMAC) is issuing a $1.04 billion transaction under its Nissan Auto Receivables Owner Trust (NAROT).

Investors have proven slow to return to the European securitization market. The limited appetite has been matched by a lackluster amount of securitization supply that market analysts said has created an imbalance in secondary and primary securitization pricing.

Moody's Investors Service will be extending the comment period on proposed changes to its modeling framework for cash-flow CLOs.

The Department of Housing and Urban Development (HUD) released a contingency plan if budget negotiations held today fall and the government shuts down, which mortgage market participants are sure will happen.

The Federal Deposit Insurance Corp. (FDIC) is expected Tuesday to propose new capital requirements for certain swap participants, as well as guidelines for adjusting the premiums of large banks.

The dollar number of U.S. fixed-rate loans that were liquidated in March rose by 49% from the levels in February, according to Trepp. However, the majority of loans with losses have losses of less than 2%.

A U.S. government furlough that last more than a few days will have an effect on mortgage origination, agency RMBS analysts said.

It's finally April and thousands upon thousands of new home listings are hitting the market – but a key source of homebuyer financing, the Federal Housing Administration (FHA) program, will shut down Friday night if Congress cannot reach terms on a budget deal.

The efforts of five Wisconsin school districts to recoup their ill-fated $200 million investment in CDOs have received reinforcement in the form of possible Securities and Exchange Commission (SEC) action against an investment bank for its role in the transaction.

Like a pesky cold, the loan market just can’t shake the “skin in the game” provision — a risk retention rule in the Dodd-Frank bill that would require “a securitizer” to retain 5% of the assets of a securitized vehicle.

The Mortgage Bankers Association (MBA) wants to delay a final decision that is expected this summer on revamping residential mortgage servicing fees.

Although lawmakers were ostensibly supposed to debate ways to overhaul the structure and authority of the Consumer Financial Protection Bureau (CFPB), a hearing Wednesday in a House Financial Services subcommittee was sidetracked by questions over whether the agency should exist at all.

Many of the nation's largest residential servicers — the subject of an intense federal audit that commenced last fall — have signed consent agreements to take corrective actions with regard to the processing of foreclosures and loan modifications, according to sources familiar with the matter.