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The now-profitable UBS still faces at least a couple of challenges that date back to its involvement in the U.S. subprime mortgage space, but is seeing some funding diversification benefits from a new Swiss residential mortgage covered bond program.
February 9 -
Wells Fargo is actively marketing a $416 million portfolio of nonperforming payment option ARMs — legacy loans it inherited when it bought Wachovia Corp. last year.
February 9 -
The American Council of Life Insurers' (ACLI) call for a ban on life settlement securitizations has been met by some opposition that believes closing this segment of the market could hurt consumers.
February 9 -
Dutch-based SNS Bank is the latest bank to publicly place a previously retained deal. After some restructuring that saw the spread raised to 115 basis points from 38 basis points, the bank sold the senior tranche off its Hermes XIV Dutch RMBS.
February 9 -
The Co-operative Bank has delivered the second U.K. RMBS of the year via its Silk Road Finance 1. The new series will issue a maximum of ₤2 billion ($3.13 billion) of RMBS notes.
February 9 -
A restructuring proposal was released for the troubled European CMBS transaction Fleet Street Finance Two where, among other changes, the maturity date of the single underlying loan and the legal final of the transaction would be extended by three years to 2017.
February 9 -
Lenders originated $86.1 billion in Federal Housing Administration (FHA)-insured single-family loans in the fourth quarter, up 21% from same quarter in 2008.
February 8 -
Senate Banking Committee chairman Christopher Dodd, D-Conn. said his talks with the ranking committee Republican have reached an impasse and he wants to move ahead with financial regulatory reform legislation.
February 8 -
Lewtan Technologies, provider of ABSNet, is moving its corporate headquarters to a new location, which will have an open floor plan.
February 8 -
Broker dealer BTIG has added two traders and a sales executive to its high yield and distressed group, it announced today.
February 8 -
Fourth quarter earnings data offered some worrisome news for banks' support of the mortgage market once the Federal Reserve ends its MBS purchases, Deutsche Bank Securities analysts said.
February 8 -
CIT Group's board of directors has selected John Thain, the former chairman and chief executive of Merrill Lynch, as its chairman and CEO, effective immediately.
February 8 -
MBIA announced today that subsidiary MBIA Asset Management has been restructured and renamed Cutwater Asset Management.
February 8 -
President Obama on Friday said he wants to expand Small Business Administration (SBA) guarantees to commercial real estate loans.
February 8 -
Losses on commercial real estate loans could top $150 billion by the end of 2011, meaning banks have just started dealing with the problem, Moody's Investors Service said.
February 8 -
Global Tower Partners (GTP) has a cell tower transaction in the CMBS market. This is an issuance of notes that are backed by mortgages representing no less than 80% of the annualized run rate net cash flow, according to a presale report by Fitch Ratings released.
February 5 -
Auto deals, both Term ABS Loan Facility (TALF)-eligible and not, have been giving the ABS market some life.
February 5 -
An unidentified hedge fund has agreed to buy a $400 million portfolio of nonperforming residential loans from Citigroup, according to vulture fund investors that play in that market.
February 5 -
The Federal Trade Commission is proposing a ban on companies being able to charge consumers upfront for loan modification services.
February 5 -
GMAC's chief executive Michael A. Carpenter sought to reassure investors — as his predecessor Alvaro de Molina did before him — that the bleeding at its Residential Capital (ResCap) has stopped.
February 5
