Securitization

JPMorgan Chase & Co. Chief Executive Jamie Dimon talked up the housing market's prospects, downplayed his bank's exposure to Europe and urged parties in Washington to resolve the standoff over the debt ceiling Thursday.

As housing prices continue to slide, the loan-to-value ratios of always-performing loans have in many cases crept higher than those on defaulted loans, according to a new report from Moody's Investors Service.

Foreclosure related filings fell by almost 30% in the first-half to 1.17 million actions, but it appears much of the drop is attributable to processing and procedural delays, according to new figures compiled by RealtyTrac.

It's 5,159 miles from Athens to McLean, Va., but for Capital One, the Greek capital — and its debt crisis — is much much closer to home.

As potential buyers kick the tires of a few big credit card portfolios on the block, the issuers' private-label card operations for the first time in years could be an advantage, instead of a drag, thanks to changes in the economy and in industry regulations.

Federal Reserve Chairman Ben Bernanke suggested that the Fed might continue its asset purchase program. This is only if economic developments indicate that an adjustment in the stance of monetary policy would be appropriate.

A federal judge yesterday dismissed key charges in National Credit Union Administration (NCUA)’s suit against officers and directors of WesCorp Federal Credit Union, but allowed several other charges to remain, making it increasingly likely there will be a trial in the failure of the one-time $34 billion corporate credit union.

When it comes to the securitization market for residential loans, hope springs eternal that some day the private sector will take a large bite out of the government-controlled MBS market.

Steve Curry, a six-year veteran of Impac Mortgage Holdings, has left the lender to accept an executive vice president job with ClearVision Funding (CVF), a fast growing wholesaler based in Santa Ana, Calif.

The Joint Forum urged banks to provide more transparency to investors in the securitization industry while also decreasing the complexity of the products offered.

Mortgage application activity fell 5.1% in the holiday-shortened week ending July 8 with both refinancing and purchase activity lower.

The New York Attorney General is investigating the proposed $8.5 billion Bank of America settlement with Bank of New York Mellon Corp. over residential MBS trusts, seeking client information from more than 20 companies including Goldman Sachs, BlackRock, and others.

Subprime CDS prices fell by -1.8% last month, following a seven-month rally that culminated in an overall price rise of 126%, according to a Fitch Solutions report.

A House Financial Services subcommittee late Tuesday approved six bills that would rein in Fannie Mae and Freddie Mac but that fall short of comprehensive changes to the housing finance system.

MBIA Insurance Corp. voluntarily dismissed with prejudice its case against Bank of America Merrill Lynch, prompting analysts to speculate that a settlement could be reached soon.

A House Financial Services subcommittee hearing Wednesday will explore whether recent changes in loan-origination rules will hurt consumers' chances of getting a mortgage.

Those who've been holding their breath for a commercial real estate meltdown may want to exhale.

"Persistent weakness" in the housing market and the downside risk of further price declines is one of the major factors cited by the Federal Reserve's monetary policy committee for the slowdown in the pace of the economic recovery in recent months.

President Obama on Tuesday officially appointed Carol Galante to serve as the new acting commissioner of the Federal Housing Administration (FHA), overseeing the agency's single family and multifamily programs.

Over 80% of 'Aaa'-rated European RMBS and ABS have maintained their ratings throughout the crisis, spanning from May 2007 to May 2011, according to a new report by Moody’s Investors Service.