Finance

Moody's Investors Service today commented on how it evaluates the effect of global and bank credit deterioration in Europe on structured finance securities.

False information provided to a regulating body considering the division of bond insurer MBIA into two parts should invalidate the split, according to the attorney for the banks suing MBIA in a hearing Tuesday.

The Federal Housing Administration (FHA) — which holds title to 700,000 seriously delinquent mortgages — plans to ramp up its single-family nonperforming loan sale efforts, according to housing commissioner Carol Galante.

Fitch Ratings has downgraded GMAC Mortgage's U.S. residential mortgage servicer ratings.

Triton Container is in the market with Triton Container Finance III LLC - Series 2012-1

Allonhill, a mortgage due diligence provider that two weeks ago lost a consulting contract with the Office of the Comptroller of the Currency, has given layoff notices to dozens of employees, according to industry consultants who were briefed on the matter.

Morgan Stanley is arranging a $470 million CLO for LCM Asset Management.

Auriga USA has boosted its fixed-income U.S. sales and trading operations with various new product lines.

The Fourth Circuit Court of Appeals sided with the Consumer Financial Protection Bureau’s (CFPB) reasoning in an amicus brief and broke ranks with other courts in ruling on a borrower’s right to rescind and void a mortgage contract.

Seventeen RMBS institutional investors represented by Gibbs & Bruns and Ropes & Gray have reached an agreement with Residential Capital (ResCap) and its affiliated debtors.

On the first day of a trial in a lawsuit brought by banks to undo bond insurer MBIA’s split into two companies, the judge made clear she wanted the proceedings to focus on legal rather than factual issues.

Newcastle Investment Corp. said it will be a partner in Nationstar’s plan to purchase $374 billion of servicing rights from Residential Capital Corp. by investing upwards of $300 million in the “excess” servicing strip on the deal.

Early today, government-controlled Ally Financial's unit Residential Capital (ResCap) and fifty of its mortgage subsidiaries filed for Chapter 11 protection through a pre-packaged bankruptcy plan.

MJX Asset Management is planning what appears to be its first CLO since the financial crisis.

Fitch Ratings has lowered Washington Mutual Covered Bond Program's outstanding €4 billion mortgage covered bonds to 'AA-' from 'AA' and placed them on Rating Watch Negative.

Nigeria’s Skye Bank has received a $150 million, five-year loan backed by remittances generated from Nigerians living abroad, according to a press release put out by the transaction’s participants.

The ABS market is seeing some deals market on the consumer ABS side, specifically in student loans and autos.

Assured Guaranty posted a small profit for the first quarter of 2012 and on Thursday announced a deal with Deutsche Bank over soured MBS.

The government controlled Ally Financial Monday morning said its board has voted to place Residential Capital into Chapter 11 bankruptcy protection while it finalizes a deal to sell substantially all of its assets to Nationstar Mortgage for $4 billion.

Third-party review firm Allonhill has responded to a letter from the Office of the Comptroller of the Currency (OCC) telling the firm that it will no longer be able to continue its file review in the Independent Foreclosure Review.