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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 Pennsylvania Department of Banking and Securities hit SoFi with a $110,000 fine for servicing mortgage loans without a license. -
Mark Myers, executive vice president and head of commercial real estate (CRE) at Wells Fargo, is set to retire in February 2020 after nearly forty years with the bank.
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The market for legacy UK and Irish mortgages is large and diverse, but it has one monster buyer, Pimco. The California-based bond investing giant has bought bonds backed by more than £12bn of loans from the UK government’s bad bank in the last two years, almost all of which went into its $75bn Income Fund, writes Owen Sanderson.
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Newly appointed EMEA investment grade DCM head Mark Lewellen has outlined the management team for Deutsche Bank’s bond operations in the region, creating a new role running real estate origination, giving Achim Linsenmaier responsibility for the public sector business, and giving Federica Calvetti environmental, social and governance responsibilities.
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HSBC has begun the process of finding a new global head of debt capital markets, as company veteran Jean-Marc Mercier changes jobs to become vice-chair of capital markets.
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Credit Suisse’s third quarter results, released on Wednesday, continued a trend for the bank this year: suffering in the primary markets but doing well in trading.
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Distressed loans using US documentation are some of the slow trades to settle in the capital markets, with an average time of 67 days, reflecting onerous legal requirements under the Loan Syndication and Trading Association standard terms. A new tool released by IHS Markit as part of its ClearPar loan settlement platform has the potential to slash this delay, with a recent trade by Deutsche Bank taking just 10 days to settle.
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The ‘mortgage prisoners’ fiasco has made it easier for MPs to demonise useful financial tools. While thousands of mortgagors cheer at the news they are about to be freed from their loans, the Financial Conduct Authority's (FCA) support has come in too late to undo the reputational damage done to useful parts of the capital markets.
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The Financial Conduct Authority (FCA) announced on Monday that it is introducing new rules to allow lenders in the UK to use a “more proportionate” affordability measure, allowing some of the 120,000 so-called ‘mortgage prisoners’ to refinance and escape high interest rates.
