Finance

National Credit Union Administration late this week filed suit against the bank for securities fraud in a $1.1 billion MBS sale to two credit unions.

Post crisis dealer floorplan ABS transaction have higher credit enhancement requirements than deals done before 2009, according to Sept. 9 Barclays Capital report.

Stranded assets, dealer floorplan, rental car, franchise, aircraft and container ABS should be treated as corporate credit risk to avoid the hefty risk capital based charged to off-the-run Consumer ABS deals, said a Citibank report today.

New hire Margaret Kerins will build BMO’s strategic product as part of its global fixed-income platform, including MBS.

Today a three-judge panel of the appeals court reversed a ruling that favored the investment bank in 2010.

The nation’s top ranked servicers completed 66,000 proprietary loan modifications in July, a 40% jump from June, according to a new report from the Hope Now alliance.

ResCap is seeking a nine-month extension of its exclusive right to file a reorganization plan that would settle legal claims related to Ally and MBS investors.

As commercial banks weigh the effects of Basel III on mortgage servicing rights and capital, nonbank residential servicers are posting the strongest growth rates in the industry.

Rates have dropped 11 basis points over the past two weeks and are within six basis points of July's record low 3.49%.

The Dusseldorf, Germany-based bank claims Citigroup and Goldman Sachs made "material misrepresentations" about the loans backing the securities

Increased adverse selection in pre-2005 RMBS mortgage pools has led to higher delinquencies for pre-2005 loans, according to a Fitch Ratings report.

The Aon Benfield report said that 2Q12 concluded the most active first half in five years.

Willis Lease Finance Corporation said in a Sept. 6 press release, that it is planning a $390 million securitization of commercial jet engine leases.

In its Request for Comment, Standard & Poor's projected that the changes will impact roughly 25% of outstanding U.S. and Canadian CMBS ratings, but the final version only affects 10%.

A downpayment requirement in the ‘Qualified Residential Mortgage’ rule will create a barrier to homeownership for low- and moderate-income families, six consumer groups said.

The Stamford, Conn.-based firm is marketing a cash-flow deal with a target par amount of $250 million.

Federal regulators are seeking public comment on their new Basel III capital proposals and there are hints they may be changing their stance on private mortgage insurance when it comes to calculating risk weightings for residential mortgages.

Equipment leasing company LEAF Commercial Capital plans to issue three triple-A rated tranches insured by Assured Guaranty Corp.

Analysts at DBRS, in a report published today, said that the renewed interest in reforming the bankruptcy law to make writing off student loan debt a possibility won't necessarily create the "moral hazard" some lenders fear.

Ally Bank has filed with the Securities and Exchange Commission (SEC) a preliminary prospectus to issue under Ally Auto Receivables Trust 2012-SN1 a $759.4 million ABS.