Securitization

Landmark legislation in Greece on consumer debt could lower recoveries on mortgages that are already underwater, according to a recent report from Moody’s Investors Service.

As technical director of the Financial Accounting Standards Board (FASB), Russell Golden is the person to whom financial institutions have been addressing their comment letters on a controversial proposal that would expand the use of fair value accounting.

Residential home sales leveled off in August after plunging 30% in July, according to the RE/MAX National Housing Report.

U.S. commercial real estate (CRE) prices as measured by Moody's/REAL Commercial Property Price Indices (CPPI) dropped 3.1% in July, which is the second straight monthly dip exceeding 3%.

Countrywide Financial Corp. founder and former chief executive Angelo Mozilo must face trial on regulators' claims he misled investors about risks tied to subprime lending, a judge ruled.

Specialty finance firm Woodbridge Structured Funding appointed of Jim Klohn as corporate general counsel.

This month Barclays Capital analysts are launching a new monthly publication called New Resi Synthetic Monitor. This offers a detailed examination of the valuation and collateral performance of the various ABX and PrimeX indices.

Poinsett Capital Advisors appointed Andrew Reiken as chief investment officer.

After months of speculation and more than a week of fevered media coverage on the topic, President Obama formally picked Elizabeth Warren on Friday as assistant to the president and special advisor to Treasury Secretary Tim Geithner in charge of creating the Consumer Financial Protection Bureau.

A bankruptcy judge has approved a settlement between the Federal Deposit Insurance Corp. (FDIC) and the now-defunct Taylor Bean & Whitaker (TBW) over the ownership of more than $1 billion in disputed loans and mortgage-related assets.

Arch Bay Capital, which invests in and manages delinquent mortgages, appears to have scuttled — for now — its plans to enter the origination business, according to industry officials who have worked with it.

Six months into his tenure as MF Global's chief executive, Jon Corzine wants the futures broker to expand geographically, and he wants it to build a beachhead in investment banking.

MetLife Bank has emerged as the winning bidder on a $23 billion package of residential servicing rights auctioned off by the Federal Deposit Insurance Corp. (FDIC), according to investment banking sources close to the situation.

Discover Financial Services said Friday it would buy Student Loan Corp. (SLC) for $600 million in a deal that beefs up the Riverwoods, Ill., credit card issuer's growing student loan business.

Two FFELP student loan deals — Scholar Funding Trust 2010-A and NC State Education Assistance Authority Student Loan Revenue Bonds, Series 2010-1 — are in the market.

Today the Federal Reserve Bank of New York bought $1.379 billion in Treasury debt that are maturing from 2012 to 2013 in an outright coupon purchase.

For the last three years, private mortgage insurers have suffered two great woes: credit losses on policies written before the crisis and an inability to compete with Federal Housing Administration (FHA) prices on new insurance.

After nine months of struggle, the Senate finally succeeded Thursday in passing 61 to 38 a bill to create a $30 billion small business lending fund for community banks.

Sand Capital has acquired more than $100 million in distressed debt and REO properties, said Jay Stein, the firm's president. Sand Capital is a division of Sandor Development Co.

The ABS market has seen a deluge of transactions from the various asset classes, although the auto sector still has the lion's share of the pipeline.