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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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Nearly all bankers (96%) say stress testing has not addressed all important risks to the banking system, according to a survey by software firm Sybase.
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Some 33 trade groups that include the American Bankers Association, the American Securitization Forum and the Mortgage Bankers Association have joined forces to ask Richard Codray, the director of the Consumer Financial Protection Bureau, to adopt a broad definition of “qualified mortgage” and to set clear qualified-mortgage standards as part of regulations due later this year.
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Residential Capital missed a semiannual interest payment April 17 on a $1.75 billion bond that matures next year, and that could result in an event of default if it fails to make the payment in 30 days, according to a filing with the U.S. Securities and Exchange Commission. .
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Standard & Poor’s has approved CoreLogic as a third-party due diligence provider for residential mortgage-backed securities it rates.
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Barclays has announced that it has merged its corporate coverage and deal-making teams into a new corporate finance mergers and acquisitions group, led by Tom King, Paul Parker and Ron Stephenson, according to an internal memo.
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Austria’s central bank says nationalization of three of the country’s lenders have contributed to cleaning up its banking structure.
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Unnamed regulators have told JPMorgan Chase to reclassify $1.6 billion of performing loans as non-performing, according to Jamie Dimon, the bank’s chairman and ceo.
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Alliance Data has announced that it has a closed its $550 million public, seven-year term asset-backed securities.
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Ally Financial said it will significantly limit its purchase of loans from the U.S. Federal Housing Administration, Department of Veterans Affairs and Department of Agriculture as a further move away from mortgage-related activities.