Finance

Mortgage application activity eased 0.8% in the week ending June 15 from the prior week due to a 9% drop in purchase activity.

The Consumer Financial Protection Bureau (CFPB) Tuesday promoted Steven Antonakes to head its bank supervision division and placed Paul Sanford in charge of large bank supervision.

The Consumer Financial Protection Bureau (CFPB) has fielded more than 19,000 consumer complaints about mortgage lenders and servicers with roughly 600 participants receiving some type of monetary relief.

This week’s Amherst Mortgage Insight argued that loan modifications are as important as bulk sales in solving the housing crisis.

An upcoming sukuk backed by properties in the Gulf region is the first RMBS from the region since 2007, according to a source close to the deal.

Credit card ABS issuer Discover Financial Services (DFS) is finally getting its feet wet in the mortgage origination business, but the lender isn't jumping into the deep end anytime soon.

A funny thing is happening to the market value of mortgage servicing rights: as this volatile asset class continues to wane in price, there’s now less of it out there in the world—a lot less compared to the peak of two years ago.

Redwood Trust is issuing another RMBS called Sequoia Mortgage Trust 2012-3 (SEMT 2012-3). Moody's Investors Service, Fitch Ratings and Kroll Bond Rating Agency are rating the deal.

Given the economic uncertainty in Greece, many investors were interested in the results of the Greek election last weekend that resulted in New Democracy (ND) leader Antonio Samaras winning.

The Consumer Financial Protection Bureau (CFPB) will begin publishing credit card complaints today in a searchable database, allowing the public for the first time to scrutinize the way individual banks handle complaints.

The Federal Reserve Bank of New York is selling assets from 11 CDOs forming part of its Maiden Lane III (ML III) portfolio. Offering circulars were released yesterday.

The chief financial officer of the now-defunct Taylor Bean & Whitaker (TBW) will be spending at least five years in prison for concealing the fraudulent activities of the privately held mortgage banking company.

For most consumer and commercial asset-backeds, the new draft final rules for risk-based capital are expected to result in capital charges that are higher compared to those under Basel II.5 or III, according to Bank of America Merrill Lynch analysts in a recent report.

3i Debt Management has hired former Credit Suisse CLO chief Andrew Bellis to head up the firm’s global growth effort, the company said.

The credit scoring system is broken, plain and simple.

Auto and credit card securitizations are filling the pipeline this week. There is also a timeshare deal from Marriot Vacations Worldwide Corp. (MVW).

Wells Fargo & Co. ended March with $1.84 trillion of residential servicing contracts on its books, once again ranking first — but barely growing its market share.

The Mortgage Bankers Association (MBA) has formed a select committee to find a replacement to departing president David Stevens with 15 candidates being thrown into the pool, according to officials familiar with the process.

Residential Capital has rejected Warren Buffett’s offer to be the initial bidder in proposed auctions of ResCap assets, Bloomberg News has reported.

A federal court panel said Bank of America can't consolidate multiple lawsuits involving losses suffered from the collapse of Taylor Bean & Whitaker and Colonial Bank in a multibillion-dollar fraud.