Move lawsuit against Zillow clears contempt hurdle with settlement

Move lawsuit against Zillow clears contempt hurdle with settlement

Move declares "full steam ahead" in prosecution

Twitter roundup of this week's top housing articles

CFPB heads up the list

Shaky housing market about to get even shakier

When will we all stop kidding ourselves?
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Items Tagged with 'subprime'

ARTICLES

Morgan Stanley expects mortgage bond lawsuit from New York AG

Subprime securitizations at the center of lawsuit
Ben Lane
It turns out that Morgan Stanley is not out of the woods when it comes to trouble with regulators. Far from it, in fact. The company disclosed that it is expecting to be the subject of a lawsuit filed by New York Attorney General Eric Schneiderman over approximately 30 subprime securitizations sponsored by the company.
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$890 million in subprime vintage debt hits secondary market

Part of $1.01 billion package
Ben Lane
Nearly $900 million in subprime non-agency mortgage bonds from big names like Countrywide, Bear Stearns, and Washington Mutual were part of a $1.01 billion package of vintage debt that hit the secondary market Thursday.
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$728 million in subprime vintage debt just hit secondary market

Massive subprime portfolio trades for second week in a row
Ben Lane
Included among the list of bonds available for purchase are some of the biggest names from the ghosts of subprime’s past, like Countrywide, Wells Fargo, Structured Asset Investment Loan Trust, Ace Securities, Park Place Securities, and others.
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Massive subprime mortgage bond portfolio ready to trade

Interested in subprime bonds? More than $2.4 billion is available now
Ben Lane
According to bond analytics firm Interactive Data, the $4.6 billion portfolio of vintage debt is the largest of 2014, surpassing the January liquidation of the ING US portfolio from the Dutch State Treasury Agency, which checked in at $4.3 billion.
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$1 billion in subprime mortgage bonds just exchanged hands

Package featured bonds from Countrywide, Bear Stearns, others
Ben Lane
Per Interactive Data, $885 million of the $998 million in available debt was subprime mortgages issed by Countrywide and others. The remaining debt was made up of $73 million in bonds backed Alt-A fixed-rate mortgages and $40 million in Alt-A adjustable-rate mortgages.
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Bank of America finds buyer for Countrywide subprime MSRs

RMBS ratings unaffected
Ben Lane
It looks as though Bank of America is ready to push past Benjamin Lawsky’s supposed freeze of the legacy MSR market with a transfer of legacy MSRs to Select Portfolio Servicing, according to a note from Moody’s Investors Service.
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$478 million in subprime-boom bonds to hit market

Part of $727 million package scheduled to trade Tuesday
Ben Lane
Now, $477.8 million more in subprime debt is available, and at least two of the biggest names in subprime are represented. According to Interactive Data, bonds from both Countrywide and Bear Stearns are part of this package.
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$366 million in subprime-boom bonds coming to market

Big names scheduled to trade Tuesday
Ben Lane
Of note in the breakdown of the bond pool are some notorious names from the subprime lending boom, including: Ameriquest Mortgage, Countrywide Financial, Bear Stearns, Goldman Sachs, JPMorgan, and Citigroup.
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$640 million in subprime-boom bonds coming to market

Two lists of “major” non-agency RMBS to bid separately
Ben Lane
"My sense is that this is related to general risk reduction ahead of Wednesday’s FOMC announcement, Friday’s non-farm payroll report, and month end," David Varano of Interactive Data said. "Additionally, this could also be driven by certain investors looking to test the market after it appeared to easily absorb those two massive bid lists last week in order to gauge current demand levels."
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Morgan Stanley finally pays $275 million for subprime RMBS fraud

SEC charged company with misrepresenting loans
Ben Lane
The SEC had charged Morgan Stanley with misrepresenting the delinquency status of mortgage loans underlying two subprime RMBSs at the height of the financial crisis. They were the last subprime RMBSs that Morgan Stanley sponsored, issued, and underwrote.
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