Alston & Bird has formed a multidisciplinary taskforce comprising 50 partners to assist U.S. clients with issues resulting from the credit crunch. The subprime taskforce is made up of attorneys from across the firm who specialize in financial litigation, securitization, class actions, finance, insurance coverage disputes, real estate, bankruptcy, workouts, structured products, retirement plans, banking regulation and derivatives. The group is headed by Brian Cox, whos is a finance partner from the law firm's Charlotte office, as well as John Latham, a securities litigation partner in the Atlanta office. The firm's release said that contacts in the New York office are Gary Roth, a partner in the financial services group, as well as Michael Johnson, a litigation partner.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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There are two series, 2024-1 and 2024-2, that have revolving periods—three for the 2024-1 and five for the 2024-2—during which noteholders will not receive any principal.
March 28 -
The trust employs a 24-month revolving period. There is an increased risk that collateral quality could deteriorate as the transaction evolves with new collateral.
March 27 -
Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
March 27 - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
March 27 -
Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
March 27