Latest news
Latest news
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
More articles
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The U.S. Securities and Exchange Commission has asked a federal court in San Francisco to force Wells Fargo to turn over documents related to its investigation of the bank related to the sale of $60 billion in mortgage-backed securities.
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Ally Financial used the whole loan securitization market to sell $250 million in legacy mortgages in 2011, according to a regulatory filing with the U.S. Securities and Exchange Commission.
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Bank of America has unveiled its pilot Mortgage to Lease program that will allow fewer than 1,000 handpicked borrowers struggling to make loan payments to remain in their homes by initially transferring ownership to the bank and becoming rent-paying tenants.
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The Federal Reserve increased its purchase of agency mortgage-backed securities to $7.7 billion in the week ending March 21, up from $6.4 billion in the preceding week.
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Wells Fargo has imposed a 105% limit on the loan-to-value ratio it will accept from third-party lenders on loans through the government’s latest version of the Home Affordable Refinance Program.
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The U.K.’s Financial Policy Committee, its new systemic risk regulator, is seeking the authority to change bank capital requirements according to economic cycles, namely to raise requirements on financial institutions against unexpected losses in a healthy economy and then lower them in a downturn.
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New tougher capital requirements on Spanish banks may be harsh but are also necessary, according to Fitch Ratings.
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The Spanish government’s new voluntary code of practice for mortgage lenders, introduced earlier this month, may protect borrowers in danger of falling into arrears but could have a negative impact on the credit quality of residential mortgage-backed securities as it could lead to lower collateral yields, increased repossessions and higher losses on mortgage loans, according to Standard & Poor’s.
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The core sectors of the European ABS market, such as prime RMBS and autos, continue to spark investor interest in both the primary and secondary market.