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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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Standard & Poor’s shakeup of senior management has continued with the removal of managing Barbara Duka as head of commercial mortgage-backed securities.
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Eric Schneiderman, the attorney general of New York state, has filed a lawsuit against Bank of America, JPMorgan Chase and Wells Fargo for allegedly engaging in “deceptive and fraudulent” foreclosure practices through MERS, the national mortgage electronic registry system.
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U.S. District Judge Harold Baer of Manhattan has certified a class action against Goldman Sachs involving residential mortgage-backed securities it sold in 2006 and from which plaintiff investors claim they lost nearly $700 million.
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U.S. District Judge Mariana Pfaelzer of Los Angeles has dismissed a lawsuit brought by Allstate against Countrywide Financial over $700 million in losses from mortgage-backed securities sold by the firm now owned by Bank of America.
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Barclays is said to be considering slashing compensation for its 24,000-strong Barclays Capital wing by between 25% and 30%.
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Citigroup has announced that it is exiting wholesale mortgage lending and will instead devote more resources to correspondent and retail channels.
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Asset Management Fund has become the latest customer of JPMorgan Chase to sue the investment bank over residential mortgage-backed securities.
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Cantor Fitzgerald has launched coverage of the U.S. real estate investment trust sector with a team made up mainly of professionals formerly with FBR Capital Markets.
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Lloyds Banking Group has announced management changes that were hinted at last week by Antonio Horta-Osorio, ceo.