Latest news
Latest news
Japanese bank poaches Barclays structured credit sales director
'The lessons of the financial crisis should not be forgotten,' spokesperson warns
The point of 'Simple, Transparent and Standardised' is that these deals are safe
More articles
More articles
-
A federal jury in Manhattan handed the U.S. Securities and Exchange Commission a defeat in its case against Brian Stoker, the former director of collateralized debt obligation structuring at Citigroup, in which it charged Stoker violated securities laws by not disclosing to investors that he allegedly helped select roughly half the underlying assets in a $1 billion CDO-squared.
-
Avis Budget Rental Car Funding has completed an offering of $690 million asset-backed securities, the proceeds of which will be used to refinance ABS debt maturing in 2013 with a blended interest rate of roughly 5%.
-
Angelo Gordon is preparing to launch the AG Securitized Asset Recovery Fund, which will invest in residential and commercial mortgage-backed securities.
-
Don Layton, the new ceo of Freddie Mac, has made several changes in the agency, including appointing Trez Moore, head of strategic investment at the government-sponsored enterprise, to develop a single securitization platform, among other things.
-
Oliver Chang, a former head of U.S. housing strategy at Morgan Stanley, has launched Sylvan Road Capital, an asset management firm that plans to raise $1 billion to acquire foreclosed homes across the U.S. and operate them as rental properties.
-
Applications for refinancing mortgages rose to their highest level since April 2009, according to the Mortgage Bankers Association.
-
Spanish banks recorded $50 billion withdrawn by depositors in May bringing the total outflows for the first five months of 2012 to $200 billion, according to Bank of Spain.
-
John Hancock Life Insurance has filed a lawsuit against Ally Financial, alleging that its Residential Capital unit committed fraud for the “wholesale and systematic abandonment of underwriting guidelines” the sale of 50 residential mortgage-backed securities between 2003 and 2007.
-
The U.S. Federal Housing Finance Agency has turned down a request by the Department of Treasury to change its policy of not permitting principal write-downs for loans guaranteed by Fannie Mae and Freddie Mac.