-
Lennar Corp. late Wednesday purchased $3.05 billion of troubled loans from the Federal Deposit Insurance Corp. (FDIC) through a "structured transaction" deal.
February 11 -
The events currently surrounding Toyota Motor Corp. do not immediately affect the ratings of any North American or European ABCP rated by Fitch Ratings.
February 11 -
The Treasury Department and bank supervisors must undertake a coordinated effort to address a developing commercial real estate "crisis" that could be very damaging to the economy, according to a Congressional panel that oversees the government's Troubled Asset Relief Program.
February 11 -
Freddie Mac announced yesterday that it will purchase substantially all 120 days or more delinquent mortgage loans from the company’s related fixed-rate and adjustable-rate mortgage Participation Certificate (PC) securities.
February 11 -
Banks have been roundly criticized for shortcomings in their loan modification efforts, but executives said Wednesday that they are learning from their mistakes and experimenting with alternatives to help stressed borrowers.
February 11 -
Following the footsteps of Freddie Mac (see story on the featured articles section of StructuredFinanceNews.com), Fannie Mae is considerably increasing its purchases of delinquent loans from single-family MBS trusts.
February 10 -
As financial conditions improve, the Federal Reserve will start using agency MBS in reverse repurchase agreements to soak up excess reserves in the banking system and eventually start to sell MBS at a "gradual pace," according to Fed chairman Ben Bernanke.
February 10 -
Freddie Mac will begin a one-time buyout of substantially all its seriously delinquent loans — 120 plus days — in February. This activity will be reflected in the March 4 prepayment reports.
February 10 -
The Federal Deposit Insurance Corp. (FDIC) is pushing back its plan to securitize troubled mortgage assets into the second quarter, according to officials close to the situation.
February 10 -
After a month’s long worth of hoopla and mudslinging, DoubleLine Capital issued its response today to The TCW Group’s January allegations that CEO Jeffrey Gundlach and his fellow employees breached their fiduciary duties and hurt the firm.
February 10 -
Nelnet is in the market with a $523.3 million FFELP-backed deal called Nelnet Student Loan Trust 2010-1.
February 10 -
Bryant Park Funding, a partially supported, multiseller ABCP conduit administered by HSBC Securities, has added a $100 million trade receivables facility to its portfolio, according to Moody’s Investors Service.
February 10 -
Carlton Group said it is auctioning $257 million of first mortgages on a variety for commercial properties for "a major financial institution" that the investment bank did not identify.
February 10 -
The Commercial Mortgage Securities Association (CMSA) said in a press release that it supports Comptroller of the Currency John Dugan’s stance on the need for a vital and robust securitization market.
February 10 -
ING Alternative Asset Management, a unit of ING Investment Management, has been appointed as the successor collateral manager for three CLOs previously managed by Avenue Capital Management II.
February 10 -
The Federal Reserve has had a tremendous influence on the agency mortgage market over the past year. For example, it owns a significant portion in lower coupons and in conventionals — especially FNMAs, and just a small amount of GNMAs (9.1% of their portfolio).
February 10 -
A new total return swap (TRX) index based on three new CMBS deals could provide a mechanism for loan originators to hedge loans, and would also attract investors, NewOak Capital said.
February 9 -
The now-profitable UBS still faces at least a couple of challenges that date back to its involvement in the U.S. subprime mortgage space, but is seeing some funding diversification benefits from a new Swiss residential mortgage covered bond program.
February 9 -
Wells Fargo is actively marketing a $416 million portfolio of nonperforming payment option ARMs — legacy loans it inherited when it bought Wachovia Corp. last year.
February 9 -
The American Council of Life Insurers' (ACLI) call for a ban on life settlement securitizations has been met by some opposition that believes closing this segment of the market could hurt consumers.
February 9
