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California Attorney General Kamala Harris is expected to join a multi-state settlement with the top five mortgage servicers and New York's AG could soon follow, according to sources familiar with the negotiations.
February 9 -
Bank of America is out in the marketplace with a roughly $35 billion portfolio of residential mortgage servicing rights through Phoenix Capital, Denver, according to investors and investment bankers who have been briefed on the sale.
February 8 -
A House Financial Services panel on Tuesday approved a bill requiring the Federal Housing Administration (FHA) to submit a plan to Congress on how it will avoid a bailout of its financially strapped mortgage insurance fund.
February 8 -
K&L Gates has created a new cross-practice task force to help clients address questions and allegations relating to the joint federal and state initiative to form an RMBS Working Group.
February 8 -
The Federal Reserve Bank of New York has sold a significant portion of its Maiden Lane II portfolio to Goldman Sachs. The residential mortgage-backed securities were sold through a competitive process and had a current face value of $6.2 billion.
February 8 - Europe
New Irish personal insolvency legislation that was proposed in January and expected to become effective in 2013 will introduce debt forgiveness for borrowers viewed as having unsustainable mortgage debt, Moody's Investors Service said in a report released today.
February 8 -
Cashel USA Property Partners plans to purchase up to $500 million in distressed single-family residences in the U.S. to convert into rentals that will be serviced by PropertyAccess, a provider of national property management services for professional investors.
February 8 -
Not surprisingly, a new low in mortgage rates buoyed refinancing activity in the week ending Feb. 3.
February 8 -
Moments before he was scheduled to make a statement on the mortgage servicing settlement Tuesday night, New York Attorney General Eric Schneiderman postponed the conference call indefinitely.
February 8 -
Mortgage servicers continue to modify 25,000 loans a month under the government's Home Affordable Modification Program (HAMP), but that pace could pick up later this summer as new changes to the effort kick in.
February 7
