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DBRS further clarified its interpretation of Securities and Exchange Commission (SEC) rule 17g-5. The credit rating agency disclosed its planned approaches for both exempt and non-exempt structured finance (SF) instruments in light of the changes to the said ruling.
June 3 -
Bank of America Corp. said Wednesday that most of the home-mortgage borrowers it had planned to offer principal reductions under a company program will instead be funneled to a government initiative that gives the servicer incentive payments.
June 3 -
Rep. Brad Sherman, D-Calif., is urging House conferees on a regulatory reform bill to support a Senate-passed amendment aimed at reforming the credit rating process that led to 'AAA'-ratings for subprime mortgage-backed securities that have subsequently faced several waves of downgrades.
June 3 -
A substantial number of at-risk homeowners' loans have been modified under the government’s Home Affordable Modification Program (HAMP), according to a report released today by HOPE NOW.
June 2 -
Moving away from Washington D.C., the American Securitization Forum (ASF) has announced that its annual conference, ASF 2011, will be held in Orlando, Florida next February.
June 2 -
The 30-day or more past due rate on securitized multifamily mortgages rose 28 basis points in May to 13.34%-dashing hopes that delinquencies in that sector of the commercial real estate market had stabilized.
June 2 -
Just 10% of the re-REMIC deals Fitch has been presented with get rated in the wake of a number of restrictions it has put in place over the last year and ratings in the category are less volatile as a result of the move.
June 2 -
Ally Financial,formerly GMAC, is getting back into wholesale mortgage lending by extending the centralized underwriting team it uses for correspondent and retail lending to brokered loans.
June 2 -
Bob Howard, a mortgage industry veteran who has worked in both the prime and nonprime sectors, is working with a nonbank lender to enter the jumbo market.
June 2 -
Despite near record low mortgage rate levels, refinancing response was very muted for the week ending May 28.
June 2
