Finance

Wells Fargo & Co. is said to be auctioning off a $65 million portfolio of sub- and nonperforming residential loans and is set to take final bids next week.

Deutsche Bank purchased of $67 million of student loans from Northwestern University via its Affiliated Loan Program for Students (“ALPS”).

The latest 2.7% quarterly gain in Freddie Mac's Conventional Home Price Index's (CMHPI) Purchase-Only Series suggests a more broad-based recovery in housing values is starting to emerge. "For the first time in two years average home sales values rose at least a little bit in every region," Freddie Mac vice president and chief economist Frank Nothaft said.

The minutes of the Federal Reserve's Aug. 11 to 12 policy meeting showed that members believe that gradually removing the central bank's purchases of MBS will make the transition easier for financial markets.

Borrowers in the European CMBS deal Titan Europe 2006-3 p.l.c were given a notice on Aug. 18 that an event of default had remained outstanding since the fourth quarter of 2008.

The new lease that Nomura is expected to sign on a 525,000 sq ft., City of London office property named Watermark Place sets never before seen terms in the London City office sector.

The Federal Housing Administration (FHA) is providing a helping hand to some multifamily developers that started construction but had their financing pulled after completing the foundation.

Banking regulators issued a 36-page proposal last week, and while it never mentioned the words "Basel II," it amounted to a first step toward reworking the tortured capital accord.

Standard & Poor's placed on 101 tranches of notes issued by Northern Rock’s U.K. RMBS master trust, Granite, on negative watch.

Mike Kozak's take on modifying troubled commercial loans reflects that of many bankers — optimism with a hint of uncertainty.

The Mortgage Bankers Association (MBA) today released a new paper outlining its proposed framework for a refined government role in the secondary mortgage market designed to ensure liquidity for mortgages without presenting unnecessary risks for the taxpayer.

Jefferies appointed Ward McCarthy, PhD, as a managing director and chief financial economist within the firm’s fixed income group.

The New York Federal Reserve named four dealers who will act as agents for the Term ABS Loan Facility (TALF).

The Federal Reserve should slow its purchases of agency MBS so that it can extend the buying program into next year, according to one MBS market expert.

HOPE NOW's July data estimates that 1.77 million homeowners received workout solutions to avoid foreclosure since January

Hannover Re placed a facultative risk portfolio as part of its extended Insurance-Linked Securities (ILS) activities.

Triple-A investors are increasingly turning to resecuritizations as a technique to partially hedge against the risk of ratings downgrades in their triple-A holdings, said Moody’s Investors Service analysts.

Citigroup said Monday afternoon that it sold three credit card portfolios representing about $1.3 billion of managed assets from Citi Holdings, its dumping ground for unwanted assets.

A Federal Deposit Insurance Corp. (FDIC) release Monday featured tips for consumers on navigating new credit card and mortgage rules, and how best to utilize bank reward programs.

Federal Deposit Insurance Corp. (FDIC)-insured banks had to buy back $1.9 billion of defaulted mortgages during the second quarter after facing heavy repurchase demands from investors during the first and fourth quarters.