Latest News

Citi, RBS, JPMorgan Shopping CLOs

May 16, 2012 – Morgan Stanley isn’t the only bank marketing a CLO this week; its competitors are shopping at least four other deals.

NY Senate Leaders Raise MBIA Investigation Possibility

May 16, 2012 – Two NY Senate Committee chairmen have raised the possibility of investigating MBIA’s behavior in applying for the company's transformation in 2008 and 2009.

Deutsche Largest Unsecured Creditor in ResCap Filing

May 16, 2012 – When ResCap filed for bankruptcy protection it left behind a trail of unsecured creditors with claims totaling well over $1 billion.

• Krimminger Leaves the FDIC
• Lawyer: False Info Should Overturn MBIA Split
• Big Layoffs at Allonhill in Wake of OCC Contract Dismissal

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Featured Articles

Lower Credit Card Delinquencies in April

May 16, 2012 – Deliquencies for bankcards were lower or stable in April for six major issuers.

Moody's: SF Credit Deterioration in Banks Varies with Exposure

May 16, 2012 – Moody's is expecting to take rating actions and to review the implementation of protection mechanisms in these financial institutions.

MBA: Delinquencies Continue to Fall, Late Payments at 7.4%

May 16, 2012 – Mortgage delinquencies continued on their downward path in the first quarter with 7.4% of all loans considered past due.

Refi Activity Jumps on New Lows in Mortgage Rates

May 16, 2012 – The MBA reported a 13% surge in the Refinance Index. The gain in refinancing activity was due to new record lows in mortgage rates.

MBIA Judge: A Trial of Law Rather Than Facts

May 15, 2012 – The judge made clear she wanted the proceedings on the MBIA transformation to focus on legal rather than factual issues.

Case Could Fuel Further Foreclosure Delays

May 15, 2012 – The Fourth Circuit Court of Appeals broke ranks with other courts in ruling on a borrower’s right to rescind and void a mortgage contract.

Fitch Lowers Rating on WaMu Covered Bonds

May 14, 2012 – Fitch Ratings has lowered Washington Mutual Covered Bond Program's outstanding €4 billion mortgage covered bonds to 'AA-' from 'AA'.

Chapter II Positive for ResCap MBS Holders, Analysts Say

May 14, 2012 – The bankruptcy filing is an overall positive for holders of MBS issued by ResCap subsidiaries, Barclays analysts stated.

Ally Throws ResCap into Bankruptcy, Sale to Nationstar Pending

May 14, 2012 – The filing will permit ResCap to continue originating new mortgages and servicing its $380 billion portfolio.

Assured Guaranty Posts Small Profit in 1Q12

May 14, 2012 – Assured Guaranty posted a small profit for the first quarter of 2012 and on Thursday announced a deal with Deutsche Bank over soured MBS.

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ASR News Update