Securitization

The ongoing foreclosure crisis is "not even halfway" over, according to a new Center for Responsible Lending (CRL) study that looked at mortgages originated between 2004 and 2008.

The Office of the Comptroller of the Currency (OCC) issued a report today regarding 12 mortgage servicers' compliance with consent orders issued last April 2011. These orders were meant to correct deficient and unsound foreclosure practices.

The private or non-guaranteed student loan default rate index was stable at 4.8% for 3Q11, as reported by Moody’s Investors Service's private student loan indices,

Operating Company/Property Company or OpCo-PropCo real estate structures need "creative thinking" with the impending refinancing challenge on the horizon, according to a report by European structuring and advisory services firm Bishopsfield Capital Partners released yesterday.

Bank of America Corp.'s board has been told the company could face a public enforcement action if banking regulators aren't satisfied with recent steps taken to strengthen the bank, according to a report by Dow Jones.

Nevada didn't explicitly forbid Bank of America Corp. from initiating new foreclosures within its borders last month. But it might as well have done so.

Only a few years ago most of the talk about short sales revolved around how to make the process more efficient — meaning shorter, since on average it lasted anywhere from 60 to 90 days. That worry is a thing of the past.

In a report today, Barclays Capital analysts said RMBS would provide buying opportunities into 2012, but they warned that certain risks could eat into the potential upside.

European market volatility has led some issuers to walk away from issuing European structured finance transactions, according to Fitch Ratings.

Big banks are fleeing the reverse mortgage industry, leaving specialty lenders with more business than they know what to do with.

Bond insurer Ambac Financial has pushed back the voting deadline on a reorganization plan and a plan confirmation hearing.

Carrington Mortgage Services has hired Brad Nease as senior vice president in capital markets. In this newly created position, Nease will lead the secondary marketing efforts for the firm’s loan origination business, and will be responsible for product development, investor relations, loan trading and warehouse lending.

An estimated 1 million homeowners with Federal Housing Administration (FHA)-insured loans could benefit by refinancing at today's low rates – but the government's mortgage insurer doesn't think it will happen.

The national 30-day delinquency rate improved by 2% in October over September and by nearly 15% compared to a year ago, according to a new "first look" report from Lender Processing Services, Jacksonville, Fla.

Alternative investment manager the Carlyle Group is expanding its lending business with the acquisition of Churchill Financial, a provider of debt financing to middle market companies.

Canadian law firm Blake, Cassels & Graydon today released commentary on the Ontario Securities Commission (OSC) decision on whether ABCP sponsor Coventree complied with disclosure requirements in the asset class.

Federal Home Loan Banks (FHLBs) have been purchasing single-family mortgages from their member banks and thrifts since 1997 — when the Chicago FHLB first launched its flagship Mortgage Partnership Finance (MPF) program.

ING Investment Management (ING IM) U.S. market strategists might not agree on everything, but one notion is clear: the U.S. will avert a recession in 2012.

For the mortgage markets, the European Union (EU) crisis was more background noise for the first half of the week with HARP 2.0 taking over the headlines.

Clayton Holdings to Acquire Green River Capital BusinessesDeal Expands Clayton's Offerings and Is Expected to Accelerate Green River's GrowthClayton Holdings , a leading provider of due diligence, underwriting, surveillance and default servicing to the residential and commercial mortgage and fixed income industries, announced today it has agreed to acquire Green River Capital, LC, a leading provider of REO, short sale and broker price opinion (BPO) services based in West Valley, Utah. The transaction is expected to close within 60 days. No financial details were announced.Green River currently has a number of large investor, financial institution and GSE clients. The company has a staff of approximately 200. Green River provides its BPO and REO services with the support of a nationwide network of more than 5,000 real estate brokers.Green River will now become a wholly owned subsidiary of Clayton. The company will continue to operate as a standalone business, under its current brand, in its current location and will be led by its current management team. Christopher West, Green River's founder and chief executive officer, and Paul Bossidy, Clayton's chief executive officer, will become co-CEOs of Green River, and Joseph D'Urso will remain the company's president.Commenting on the transaction, Bossidy said: "Green River is an excellent strategic fit for Clayton and our clients. It will expand our loss mitigation offerings at a time when short sales and REO dispositions are both expected to remain strong. Green River's BPO offerings will help our clients, along with our Quantum special servicing unit, to make better loss mitigation decisions and will complement Clayton's diligence and whole loan acquisition services."West said: "During the past year, our REO and short sale assignments have grown by more than 87 percent. By joining with an industry leader such as Clayton, we expect to continue this growth and create a more scalable company while increasing the strength of the Green River brand.Due diligence provider Clayton Holdings has agreed to acquire Green River Capital, which offers REO, short sale and broker price opinion (BPO) services. Green River is based in West Valley, Utah.The transaction should be closing within 60 days. No financial details were announced.Green River now has a number of large investor, financial institution and GSE clients. The firm's staff is roughly 200. Green Riverhas a nationwide network of over 5,000 real estate brokers.Green River will now be a wholly owned unit of Clayton. It will still operate as a standalone business under its current brand and in its current location. It will also be led by its current management team. Christopher West, Green River's founder and chief executive officer, and Paul Bossidy, Clayton's chief executive officer, will become co-CEOs of Green River. Joseph D'Urso will still be the company's president."Green River is an excellent strategic fit for Clayton and our clients," Bossidy said. "It will expand our loss mitigation offerings at a time when short sales and REO dispositions are both expected to remain strong. Green River's BPO offerings will help our clients, along with our Quantum special servicing unit, to make better loss mitigation decisions and will complement Clayton's diligence and whole loan acquisition services.""During the past year, our REO and short sale assignments have grown by more than 87%," West said. "By joining with an industry leader such as Clayton, we expect to continue this growth and create a more scalable company while increasing the strength of the Green River brand."