Wells Fargo is already contacting borrowers who might be eligible for a principal reduction as required under the $25 billion robo-signing settlement with state and federal law enforcement agencies.
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Bill King joined Carrington Holding Co. as its chief investment officer and head of asset and risk management.
May 9 - Europe
European fixed-income investors said that more fiscal measures are needed to solve the eurozone crisis, according to Fitch Ratings' just published, quarterly investor survey of asset managers' outlook for the credit markets.
May 9 -
Mortgage application activity recorded a modest 1.7% increase in the week ending May 4 as mortgage rates set new historical lows.
May 9 -
Cairn Capital has appointed Philippa Charlton to form part of its ABS team. She will focus mainly on building its secured funding asset management or SFAM unit, according to several published reports.
May 9 -
A suit that started with over a dozen plaintiffs against MBIA is down to two after Natixis Financial Products withdrew from the suit Monday.
May 9
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One of the architects of the $26 billion settlement with five major servicers expects some borrowers will see the principal balance of their mortgages reduced by over $100,000.
May 8 -
The first bulk sale of 2,500 Fannie Mae REO properties will sell at a discount to single assets, but has the potential to drive prices up after the first $10 billion to $20 billion in foreclosed homes are sold to institutional investors and converted to rentals, according to the Amherst Securities Group (ASG).
May 8 -
Lenders, for the first time, are facing the possibility of paying "actual damages" as a result of the “qualified mortgage” (QM) definition, an attorney warned attendees at the Mortgage Bankers Association's (MBA) National Secondary Market Conference in New York.
May 8 -
Mortgage originations will fall to their lowest level in five years in 2012, according to the latest forecast by the Mortgage Bankers Association (MBA).
May 8 -
Moody's Investors Service has updated its structured finance CDO methodology. These deals' ratings consider the credit assessments of non-Moody's rated assets that are inferred from the ratings given by other rating agencies.
May 8 -
Freddie Mac released the results of its 1Q12 refinance analysis. The study showed that homeowners who refinance are still strengthening their fiscal position.
May 8 -
An executive at Redwood Trust — the only active Jumbo MBS issuer out there — said the firm has been able to expand its business despite challenges, including the government’s continued domination of the market.
May 8