After years of on-and-off discussions, City Council has enacted requirements on foreclosure bonds for vacant residential and commercial properties. The companion pieces of legislation were passed unanimously on Oct. 3, requiring that $ 15,000 cash bonds be set aside once a property has been vacant for 60 days. Foreclosure News
California has lost two rounds of a lawsuit brought by plaintiffs who say the state improperly diverted money intended for homeowners to make payments on housing bonds. The administration of Gov. Jerry Brown and state lawmakers want the state's Supreme Court to reverse lower court rulings that found the state wrongly used money from a […]
The loans in question are nowhere near the toxic mortgages that brought down the financial system last decade. But they're being made to people with lower credit scores and with more debt relative to their income. Foreclosure News
Nationstar's next defaulted reverse mortgage securitization recycles are large amount of collateral from two previous transactions that were “collapsed” because proceeds from liquidations slowed over time, according to Moody's Investors Service. And, like many of Nationstar's recent deals, a large percentage of the collateral is in states with long foreclosure timelines – all of which […]
LONDON/MILAN, November 24 Fitch Ratings has taken action on four Portuguese mortgage covered bonds programmes issued by Banco Comercial Portugues, S.A. , Caixa Geral de Depositos, S.A. , Caixa Economica Montepio Geral and Banco Santander Totta SA , as follows: – BCP's OH affirmed at 'BBB+'; Stable Outlook – CGD's OH affirmed at 'BBB+'; Stable […]
SYDNEY, September 28 Fitch Ratings has affirmed National Australia Bank Limited's AUD20.2 billion of outstanding mortgage covered bonds at 'AAA'. The Outlook is Stable. Foreclosure News
SANTIAGO, September 23 Fitch Ratings has affirmed BA Covered Bond Issuer's mortgage covered bonds at 'AA' following its annual review of the program. The Rating Outlook is Stable. Foreclosure News
TOKYO, August 12 Fitch Ratings has upgraded the ratings on HYDRA V Funding Corporation's series 1 bonds as follows: JPY1.33bn* Class S1 bonds upgraded to 'AAAsf' from 'AA+sf'; Outlook Stable JPY654m* Class S2 bonds upgraded to 'AAAsf' from 'AA+sf'; Outlook Stable *as at 10 August 2016 The transaction is a securitisation of residential mortgage loans […]
In what prosecutors say is the first criminal case of its kind ever pursued, a municipal official in a New York suburb and a former… ABA Journal Daily News
One of Wall Street’s best-known financial institutions has agreed to pay more than $ 5 billion to settle claims that it sold toxic bonds based on… ABA Journal Daily News