For the first time in six weeks, mortgage rates increased as Treasurys sold off as risk on heated up after remarks last week from European Central Bank (ECB) President Mario Draghi about "doing whatever it takes" to save the euro. He talked a good talk, but markets are still left waiting for action after today's ECB statement and risk off is in full swing again. Next up: employment.
-
The National Credit Union Administration alleged the sale of faulty MBS by Barclays to U.S. Central Federal Credit Union and WesCorp Federal Credit Union contributed to their 2009 collapse.
September 25 -
United Realty Partners has hired Barry Funt as president of United Realty Capital Markets.
September 25 -
Sidley Austin has hired Matthew Cahill, whose expertise includes securitization, to start in early November as a partner in its global finance practice.
September 25 -
The Mortgage Bankers Association and other industry groups have lined up considerable legal talent to prevent and block any local community from invoking eminent domain.
September 25 -
Credit card indicators are looking good with August numbers showing charge-offs decreasing for most asset-backed securities trusts, Citi analysts said.
September 25
-
Richard D. Baum has been elected as chairman of Redwood Trust, the only current consistent issuer of private-label MBS.
September 25 -
PennyMac has agreed to buy $452 million of nonperforming whole loans from undisclosed sellers, according to a recent SEC filing.
September 25 -
Early results for the 2012 vintage subprime auto ABS transactions have shown that cumulative net loss rates in the sector are comparatively "well behaved," Wells Fargo analysts said.
September 25 -
Federal banking agencies today announced a regulatory capital estimation tool to evaluate recently published Basel III capital proposals.
September 24 -
Lender Processing Services (LPS) data reveal that both the foreclosure rate and mortgage delinquencies continued to decline through August.From a database of nearly 40 million loans nationwide that represents approximately 70% of the overall market, LPS said in its “first look” report that August’s foreclosure rate was 4.04%. This figure represents a 1% decline from the previous month and 2% less than a year ago. Additionally, it is the lowest foreclosure rate since October 2010.
September 24 -
Interactive Mortgage Advisors (IMA), Denver, is offering two small bulk mortgage servicing rights packages one backed by loans in Pennsylvania and the other in Nevada.
September 24 -
Royal Bank of Canada plans to issue credit card transactions under its Golden Credit Card Trust Series 2012-5 and Series 2012-6.
September 24