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Latest news
Vida Bank is also building up its funding team
Bank’s relationship with SpringCash is ‘commercial’
Stefan Jost will take over the role
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The Canadian Bankers’ Association has denied reports that funds from the government and the Bank of Canada kept banks out of serious trouble between October 2008 and July 2010, as claimed by think tank Canadian Centre for Policy Alternatives.
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The Depository Trust & Clearing Corp. said its new central counterparty for mortgage-backed securities, which launched April 2, has achieved a 70% reduction in the mortgage securities pools and payments involved in settling the trades, resulting in a sharp reduction in the costs and operational risks in the market.
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Anthony Renzi has resigned as Freddie Mac’s executive v.p. in charge of single-family mortgages to accept a position at a different financial company, according to an internal memo.
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Threatened downgrades of Lloyds Banking Group and the Royal Bank of Scotland by Moody’s Investors Service could sink their profits 16% and 8%, respectively, according to Citigroup research.
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Legal &General has entered the property-lending sector with a £121 million ($196.7 million) loan to Unite, a student housing developer and manager, a year after it first considered a move into the market.
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U.S. banks have eased their lending standards for commercial loans as they experienced stronger demand in the first quarter, according to the Federal Reserve’s quarterly survey of senior loan officers.
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Ally Financial has acknowledged in a regulatory filing that it is considering a bankruptcy filing for its Residential Capital unit after it failed to make a $20 million interest payment.
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The U.S. Federal Housing Finance Agency has put off making a decision on whether to allow principal reduction on loans issued by Fannie Mae and Freddie Mac.
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Freddie Mac has announced a $1 billion offering of structured pass-through certificates, multifamily mortgage-backed securities known as K-certificates. The deal is the sixth from the K shelf.