The September expiration date for the Small Business Administration's (SBA) secondary market program for the first lien position means that first mortgages will no longer be eligible for a government guarantee.
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The Italian Bank, UniCredit has made its first ABS tender offer since 2010 to repurchase up to €1bn ($1.28bn) of its Italian RMBS and lease ABS bonds.
September 12 -
The Mortgage Bankers Association reported mortgage application activity rose 11.1% in the week ending Sept. 7. Adjusted for the Labor Day holiday, the Refinance Index surged 12% to ~4723, while the Purchase Index gained 8% to 193.
September 12 -
Fitch Ratings assigned an 'F1sf' rating to the asset backed commercial paper issued by Windmill Funding Corporation, a partially supported multi-seller ABCP conduit sponsored by The Royal Bank of Scotland.
September 12 -
The firm's relative value outlook is still unchanged from earlier in 2012, even given the tighter spreads and as the consumer ABS market still functions as a safe haven for many buyers.
September 12 -
The House of Representatives Tuesday afternoon passed a bill that requires the Federal Housing Administration (FHA) to submit a plan to Congress on how it intends to avert a bailout of its financially strapped mortgage insurance fund.
September 12
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Although uncertainty remains about the Fed's purchase program's direction, RBS expects the Fed to announce QE3 in September meeting.
September 11 -
The FHFA announcement stated that lenders will be relieved of certain repurchase obligations for loans that meet specific payment requirements.
September 11 -
NewDay USA, a nationwide reverse mortgage lender, Tuesday named former Ginnie Mae president Joseph Murin as its new president and chairman.
September 11 -
The Consumer Financial Protection Bureau’s examination teams are focusing most of their attention on large bank and nonbank mortgage servicers.
September 11 -
The recovery in the multifamily sector is hitting on all cylinders with rents rising, vacancies falling, and accelerating construction, while the single-family market is still on a slow path of revival.
September 10 -
Cornerstone Real Estate Advisers has opened a Tokyo office that will be headed by directors Kelly Hayes and Peter Gensheimer.
September 10 -
Credit Agricole Public Sector is in the market with a covered bond backed by export loans guaranteed by export credit agencies of highly-rated sovereigns.
September 10