ABS

Private mortgage insurers have developed a "second look" program that will pay advance claims to facilitate modifications of insured non-GSE loans.

WSFS Financial Corp., Wilmington, Del., has given up on its joint venture in the reverse mortgage field after a little over one year, citing the unlikelihood of profitability.

BlackRockLegacy Securities Public-Private Trust will be the newest ditressed-asset fund to take advantage of the government’s Public-Private Investment Program (PPIP), according a prospectus filed with the Securities and Exchange Commission on Friday by BlackRock Advisors.

Wilmington Trust Corp. may have to make some tough choices soon, but its chairman and chief executive Ted T. Cecala is doing all he can to deflect speculation that it has reached a crossroads.

Given the glimmers of improvement in second-quarter results, credit card lenders are hoping for an endless spring.

Aladdin Capital Management UK hired Mark Atmore for its sales and trading division .

On July 21, Standard & Poor's published a criteria document outlining refinements it

Tom Neary has resigned as executive vice president and senior managing director of Residential Capital Corp. (ResCap), effective at the end of July.

Commercial lender CIT Group warned that it may have to file for bankruptcy even if its cash tender offer for notes due in August goes through.

A survey conducted by the International Association of Credit Portfolio Managers (IACPM) shows that credit investors believe spreads will widen along with the number of defaults. Their outlooks are even more pessimistic than they were in May, when the IACPM conducted a similar survey.

Online mortgage auction BigBidder.com is marketing a $0.5 million pool of reperforming residential mortgage loans. The announcement comes after BigBidder.com recently reached $100 million in total notes for auction.

When comparing the loan modification efforts of the top mortgage servicers, it's hard to find rhyme or reason behind their decisions, observers say.

Capital One Financial Corp. reported a second-quarter loss that was attributed largely to the cost of exiting the Troubled Asset Relief Program.

As President Obama's regulatory reform proposal sputters, Federal Deposit Insurance Corp. (FDIC) Chairman Sheila Bair stepped up with an alternative strategy Thursday that dodges many major political obstacles and could rally support for the plan.

The New York Federal Reserve posted a list of bonds that were accepted and rejected after the first subscription for Legacy CMBS Term ABS Loan Facility (TALF).

Standard & Poor's has placed its ratings on SLM Corp. on CreditWatch Negative, the rating agency said today.

Existing single-family home sales rose 2.4% to an annualized rate of 4.32 million units in June and prices appear to be firming up as well, according to figures released Thursday morning by the National Association of Realtors (NAR).

With FFELP student loan issuers having difficulty funding loans because of the current credit freeze, the Straight-A Funding student loan conduit was developed to provide a partial industry solution.

GE Capital, a unit of General Electric Co., has received approval from the Federal Deposit Insurance Corp. (FDIC) to exit the Temporary Liquidity Guarantee Program (TLGP), the firm said yesterday.

Christopher Harrison has joined Morgan Lewis as a partner in its business and finance practice in London, the law firm said in today’s release.