The settlement, which includes $7 billion in consumer relief and a $5 billion penalty, resolves civil investigations by federal and state prosecutors, the U.S. said Thursday.
Regulatory hurdles, stability of counterparties, the rep and warranties framework, exogenous variables, and technical factors all pose challenges; but GSE reform will probably have the biggest influence, according to Morningstar.
Bank card default rates experienced the biggest month-over-month drop of 16 basis points, to 2.86%.
The always-important question of what Fannie Mae and Freddie Mac charge for loan guarantees is emerging as a central issue in the development of a stable housing finance market.
Delta Lloyds' latest Dutch residential mortgage securitization has an innovative work around to regulations that make it unattractive to use swaps to hedge interest rate mismatch.
Regulation AB governs registration, reporting and disclosure requirements for all things asset-backed. The Securities and Exchange Commission appears to be ready to update it significantly, but, nearly four years after changes were originally proposed, its not clear exactly what the Commission will do.
Concern is mounting among investors and analysts that Nationstar, Ocwen Financial and Walter Investment are getting so big so quickly that they are becoming too difficult to manage.
The proposal would introduce dissemination of trade prices for securities ranging from highly liquid credit card and auto ABS to smaller and more esoteric deals in asset classes such as time shares, to commercial mortgage-backed securities (CMBS) and highly structured CDOs and collateralized loan obligations.
Overall issuance growth will moderate in 2014, Fitch Ratings' managing director for asset backed securities says in the firm's outlook.
The servicer has a reputation for aggressively writing down principal, often multiple times.
Vice President of Regulatory Compliance
Firm: Clayton Holdings
In the news: How Ability-to-Repay Rules Could Reshape RMBS Market
As more and more Chinese gain the financial access to buy a car with a loan, lenders will look increasingly to securitization to keep origination going.Current Issue