Latest news
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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State-owned Bayerische Landesbank has filed suit in New York against Deutsche Bank charging fraud in connection with the sale of $810 million of residential mortgage-backed securities.
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The U.S. Federal Housing Finance Agency has ordered Fannie Mae and Freddie Mac to develop strategies to help homeowners avoid foreclosure through short sales, deed in lieu and deeds for lease, among others.
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Container lessor Textainer Group has completed its $400 million fixed-rate asset-backed notes.
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Stefano Loreti, a senior asset-backed securities portfolio manager at Cairn Capital, has reportedly left the firm.
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Erste Abwicklungsanstalt, the bad bank set up to sell off WestLB’s assets, reduced the lender’s credit portfolio by 56% and its toxic-securities exposure by 43% in 2011.
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UniCredit Bank Austria is planning to launch a EUR500 million ($656.6 million), seven-year covered bond.
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WestLB is planning on moving the assets of Westimmo, its real estate finance affiliate, to Erste Abwicklungsanstalt, its bad bank, after the German lender was unable to sell the firm.
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The Federal Reserve has issued a consent cease and desist order and assessed a $6 million civil money penalty against the Bank of New York Mellon related to allegations that the bank breached “certain representations and warranties” made to Federal Reserve of Boston in connection with its participation in the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility.
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Bank of America is said to be considering another bulk sale of foreclosed home to shrink its inventory of distressed assets, it second in the past several months.