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Banker had been at NatWest for three years
New hire to be US head of digital infrastructure finance for combined firm
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Bank of America has launched its program to reduce principals on mortgages by contacting some 200,000 borrowers by mail, inviting them to participate.
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Ginnie Mae expects in coming months to issue new standards that will make it more difficult for a lender to be approved as an issuer of mortgage-backed securities, according to Michael Drayne, senior v.p. of the agency.
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Daiwa Capital Markets has hired Michael Marsallo and Mark Schultz as co-heads of its mortgage-backed pass-through desk.
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A workout of commercial mortgage-backed securities has led to sale the Dutch EPI Orange portfolio of office and light industrial properties for EUR50 million ($65.17 million).
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BNP Paribas and Société Générale have said they are planning to cut bonuses globally by 52% and 44%, respectively, mainly in investment and corporate banking.
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London investment banks appear to be hiring more, as new job vacancies rose 9% in April from the preceding month but still off 27% from a year earlier, according to recruiter Astbury Mardsen. “
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Broker-dealer firm The PrinceRidge Group has added five directors to sales and trading positions to its mortgage-backed securities division; part of a recent expansion of the group led by senior managing director and head of U.S. residential mortgage-backed securities Barry Berkeley, who joined the firm from Sterne Agee & Leach in January.
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Rising default rates on automobile loans are driving Brazilian banks to cut back on lending.
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Ginnie Mae has ordered issuers of its mortgage-backed securities to make four additional pieces of data available to investors beginning in September.