An appellate court decision earlier this month would provide a new avenue for borrowers to file suit against mortgage servicers that deny permanent modifications under the Home Affordable Modification Program (HAMP).
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GE Capital is marketing a $750 million dealer floorplan master note trust securtization that will be rated by both Moody's Investors Service and Fitch Ratings.
May 8 -
After the Maiden Lane III MAX CDO sale, last week roughly $1.5 billion face value of super-senior CDO bonds or the entire remaining balance of WAVE 2007-1 and 2007-2 A1s were put out for bid, according to JPMorgan Securities analysts reported.
May 8 -
In 2004, I had the unique distinction of being perhaps the only person in history to have the U.S. Senate place a bounty on his head. I didn't rob a train. My crime was leading a federal investigation into misconduct at Fannie Mae.
May 8 -
Santander Consumer USA is in the market with Santander Drive Auto Receivables Trust (SDART) 2012-3.
May 7 -
PrinceRidge has hired five new directors to its RMBS unit. With these additional hires, the firm's RMBS group has grown to more than 24 people.
May 7
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Fitch Ratings has appointed John Miles as head of Fitch Australia effective immediately. Based in Sydney, he will be responsible for managing the rating agency's day-to-day business operations in Australia and New Zealand.
May 7 -
The 30-year FNMA prepayments were close to overall expectations of around a 3% slowing in speeds.
May 7 -
Nationstar, which recently sold stock to the public, is continuing negotiations to buy Residential Capital Corp./GMAC from Ally Financial through a prepackaged bankruptcy agreement, according to industry advisors briefed on the plan.
May 7 -
Daiwa Capital Markets America has hired Michael Marsallo and Mark Schultz to lead its MBS passthrough desk.
May 7 -
The Education Finance Council (EFC) said that there are several factors to consider when examining the issue of U.S. student loan debt reaching $1 trillion.
May 7 -
The head of Ginnie Mae said the agency is trying to “triage” its application problem after finding out that over the past year it could approve less than half of all applicants — and that several of those who received a green light have yet to issue any securities.
May 7 -
The state of Florida signed into law a new bill designed to help protect consumers in the selling and buying of timeshare interests in the secondary market. The law will be effective on July 1.
May 7