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Latest news
Deal raises questions about whether transaction was done at arm's length
Joanna Chan is taking on the role of head of strategic capital
Key points of contention include the investor sanctions regime and the definition of 'resilience'
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The Federal Reserve is said to be pressing Bank of America to supply it with a contingency plan for how it will proceed if its financial situations worsens.
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Saba Capital Management is said to have hired Toby Maitland Hudson to be in charge of credit default swaps linked to commercial mortgage-backed securities and relative-value trades.
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Amsterdam-based Kas Bank has named Beta Steiner as the new head of securities lending.
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Robert Kelly has quit as chairman and ceo of BNY Mellon over “differences in approach in managing the company,” according to the bank.
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The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, has joined in filing objections to the proposed $8.5 billion Bank of America mortgage-servicing settlement.
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U.S. District Judge Robert Sweet of New York has dismissed a lawsuit brought against Bank of America by BNP Paribas Mortgage and Deutsche Bank over hundreds of millions of dollars they claim they lost from asset-backed securities sold by the bank.
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Standard & Poor’s has given an AAA rating to 59% of the new Springleaf Mortgage Loan Trust 2011-1, a subprime residential mortgage-backed security.
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Bank of America is said to be looking to get out of the correspondent-mortgage business as it no longer fits into the bank’s long-term strategy.
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Canada Mortgage and Housing Corp. said its mortgage refinance activity plunged roughly 40% after the government introduced tougher mortgage rules earlier this year.