September 5, 2008 – The MBA quarterly National Delinquency Survey reported the delinquency rate for mortgage loans on one to four unit residential properties was 6.41% of all loans outstanding as of the end of 2Q08.
September 5, 2008 – The ECB said that it no longer intends to accept ABS collateral for its repo operation if it is not backed by a liquidity facility that is worth at the minimum 20% of the deals nominal value.
September 4, 2008 – Over the next 12 to 18 months, the EMEA region can expect stable and negative performance of its major structured finance asset classes.
September 4, 2008 – The SIFMA cautioned against proposals to remove references to credit ratings in regulations that the SEC issued with the intention of avoiding overreliance on credit ratings and promoting independent analysis.
September 4, 2008 – HSBC France, Paris, has launched an 8 billion euro ($11.6 billion) covered-bond program under French law.
September 4, 2008 – Lewis Ranieri has stepped down as interim chief executive of the struggling Franklin Bank Corp. of Texas.
September 3, 2008 – Bingham McCutchen has hired Kenneth A. Kopelman, former head of Bear Stearns fixed-income and derivatives legal groups, as partner.
September 3, 2008 – The new additions to the team include Doug Runte, Scott Sodokoff, Dan Reese and John Covello.
September 3, 2008 – Various intiatives will reduce ResCap's workforce by roughly 5,000 employees.
September 2, 2008 – Merrill Lynch hired Michael Nierenberg from JPMorgan to head global mortgages and securitized products businesses.
September 2, 2008 – The number of mortgages approved in the U.K. in July 2008 fell by 71% year over year.
September 2, 2008 – A Fitch Ratings report on the outlook for increasing delinquencies in option ARMs resulting from recasts was released today.
September 2, 2008 – CIFG Holding today announced that its financial guaranty subsidiaries have reached agreements to commute approximately $12 billion in structured finance exposures.
September 2, 2008 – Allen & Overy and docGenix launched docGenix, an independent firm offering innovative services to give financial institutions the ability to manage documentation risk.
September 2, 2008 – Andrews Kurth formed a covered bonds practice group to meet demands of changing the capital markets.