More than a month after federal and state officials announced a massive $25 billion settlement with the five mortgage servicers, the Justice Department on Monday finally released the actual legal document.
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Bond insurer Ambac Assurance Corp. on Monday requested to withdraw from a legal case for an $8.5 billion settlement with Bank of America concerning MBS.
May 3 -
The Federal Housing Finance Agency (FHFA) late Tuesday revealed that it gave Fannie Mae the green light to conduct a pilot program with Wells Fargo in March 2010 to test principal reduction modifications.
May 3 -
U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan will testify before Congress next Tuesday regarding efforts to allow more Americans to refinance their mortgages.
May 3 -
Intermodal container lessor Textainer Group Holdings has closed a $1.2 billion warehouse securitization facility.The new facility called Textainer Marine Containers II Limited (TMCLII) acquired a portion of the intermodal containers owned by Textainer Marine Containers Limited (TMCL), which is another asset owning subsidiary. TMCL used the proceeds it received from TMCLII to terminate its $850 million securitization facility.The interest rate on the TMCLII securitization facility is 2.625% over Libor during an initial two-year revolving period. If the TMCLII securitization facility is not refinanced or renewed after this period, the facility is structured to partially amortize in the next five years and then mature.
May 2 -
Moody's Investors Service has placed GMAC-RFC's servicer quality rating on review for possible downgrade.
May 2
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Schroders has made new hires to its fixed-income team to enhance its capabilities in the emerging market debt (EMD) relative return sector.
May 2 -
Freddie Mac executive Anthony Renzi has accepted a senior mortgage job with Citigroup, after weighing a position with Wilbur Ross’ fast-growing mortgage empire, according to industry sources.ASR sister publication National Mortgage News (NMN) tweeted about Renzi’s job offers on its Web site early Monday afternoon.
May 2 -
Citigroup is arranging a $350 million CLO for the U.S. investment arm of Dutch insurer Aegon.
May 2 -
Gleacher & Co. Securities, a broker-dealer subsidiary of Gleacher & Co., has hired Perrin Arturi and Donald Ullmann as executive managing directors who will co-head the firm's MBS/ABS and rates division.
May 2 -
Moody’s Analytics has updated its risk management tool called Mortgage Portfolio Analyzer (MPA) to help retail portfolio managers manage the credit risk in their mortgage portfolios.
May 2 -
Mortgage application activity overall was essentially unchanged as slightly higher purchase activity was offset by a dip in refinancing.
May 2 -
Auto ABS performance diverged during 1Q12, Moody's Investors Service said in its latest quarterly auto loan, auto lease and auto floorplan sector updates.
May 1