Last Updated: November 20, 2009 11:39 am CST
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House Amendment Allows Dismantling of ‘Too Big to Fail’ Firms
A House Financial Services Committee amendment that passed this week would empower federal regulators to dismantle financial firms considered “too big to fail.” The amendment, authored by House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises chair Paul Kanjorski (D-PA), was included to the Financial Stability Improvement Act with a vote of 38-29. The... more»
Got a Lehman signing bonus? Probably not for long
If it wasn’t bad enough that the 2008 class of associates at Lehman Brothers worked a mere six weeks before the financial services firm collapsed, a year later, many of those same employees may be on the hook for repaying their $40,000 signing bonuses. According to a report on a British financial employment Web site, a number of 2008 associates received letters demanding the former employees pay... more»
House Amendment Allows Dismantling of ‘Too Big to Fail’ Firms
A House Financial Services Committee amendment that passed this week would empower federal regulators to dismantle financial firms considered “too big to fail.” The amendment, authored by House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises chair Paul Kanjorski (D-PA), was included to the Financial Stability Improvement Act with a vote of 38-29. The amendment would allow the dismantling of large... more»
Fed Buys Another $16Bn of Agency MBS
The Federal Reserve Bank of New York bought another $16bn of agency mortgage-backed securities (MBS) in the week ending November 18. The Fed’s gross weekly purchases totaled $17.2bn. The Fed bought $5.9bn from Freddie Mac (FRE: 1.14 -1.72%), $4.55bn from Fannie Mae (FNM: 1.02 -0.97%) and $6.77bn from Ginnie Mae. The Fed also sold $1.23bn of agency MBS — $800m of Fannie and $425m... more»
State Monitors Oversee Modifications in California Bill
The California Assembly is considering AB 1588, which would implement the Monitored Mortgage Workout (MMW) Program. MMW would provide for state-appointed monitors to guarantee homeowners a chance at working out a plan with their lender to avoid foreclosure. The bill was introduced recently by Karen Bass, the California assembly speaker, and announced by Antonio Villaraigosa, the mayor of Los Angeles. Any borrower who receives a notice of default (NOD)... more»
recent stories
- Fed Buys Another $16Bn of Agency MBS Secondary Market/Investors
- ABCP Outstandings Slip 35% in 2009 Secondary Market/Investors
- FHA Condo Financing Evaporating Origination/Lending
- PMI Group Sees Mixed Housing Activity in September Origination/Lending
- Combined Loan to Values Swell to 107% in July 2009: Equifax Secondary Market/Investors
- House Affordability Dips in Q309: NAHB Origination/Lending
- Prices Down 9.8% in September: First American Origination/Lending
- State Monitors Oversee Modifications in California Bill Servicing/Default
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Events
2009 Dec 09 -- 2009 Dec 10
RMBS: Assessing Value and Risk
This two-day course in New York City will equip market participants with the knowledge and skills to evaluate prime, Alt-A and subprime RMBS portfolios in order to assess their value and understand inherent risks. For more information, visit www.fitchratings.com.
2010 Jan 13 -- 2010 Jan 14
2010 Collection Technology Summit
The Collection Technology Summit is the first industry event to focus solely on collections and its associated technologies and continues to draw top executives from the nation's most prominent institutions. The Collection Technology Summit, where innovation happens. For more information, visit www.collectiontechnology.net
