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Meanwhile, BNP Paribas hires in structured finance
Aspire's first deal is a $391.28m non-prime securitization
Two lenders entering administration should signal to others: simplify the industry
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The number of securitizations backed by non-performing commercial real estate loans is expected to rise as the volume of loans placed in special servicing continues to increase, according to Fitch Ratings.
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State-owned Bayerische Landesbank has filed suit in New York against Deutsche Bank charging fraud in connection with the sale of $810 million of residential mortgage-backed securities.
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U.K. lender Coventry Building Society is preparing to come to market with its first securitization of prime residential mortgages, Leofric No. 1.
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Mark Pappas, the head of Gleacher & Co.’s mortgage finance unit, has reportedly left the firm in recent weeks.
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Apollo Residential Mortgage, a unit of alternative investment manager Apollo Global Management, is targeting a Friday close for a secondary offering of equity shares in its real estate investment trust, which invests in both agency and private-label residential mortgage-backed securities.
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Standard & Poor’s has approved CoreLogic as a third-party due diligence provider for residential mortgage-backed securities it rates.
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Banco BPI is offering to buy back EUR2.06 billion ($2.71 billion) of bonds from its Duoro floating-rate residential mortgage-backed securities shelf, according to an official at a European bank.
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Ally Financial said it will significantly limit its purchase of loans from the U.S. Federal Housing Administration, Department of Veterans Affairs and Department of Agriculture as a further move away from mortgage-related activities.
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Ambac Assurance has filed a lawsuit against Bank of America alleging breach of contract related to mortgage-backed securities issued by its Merrill Lynch unit.