The data leak at Municipal Bond Insurance Association, the nation’s largest bond insurer, compromised the data of thousands of local U.S. government entities. Now there are charges the company knew about the breach, but did nothing at first.
Due to a misconfiguration in a company Web server on Monday, Municipal Bond Insurance Association, the nation’s largest bond insurer, exposed countless customer account numbers, balances and other sensitive data, according to the same security firm that called the Home Depot data breach.
Lender Flagstar Bank doesn’t exactly personify the old ‘phoenix rising from the ashes’ story line, but it’s pretty close. With most rep and warrants litigation behind it, the firm's stock is gaining traction in the eyes of at least one analyst group.
Monoline insurer MBIA managed to distance itself from loans tied to the bankruptcy estates of Residential Funding Co., Residential Cap and GMAC. The company sold its interest in claims against the firms this week.
It’s been a rough few years for bond insurer MBIA, but after settling legacy mortgage-backed securities litigation with Bank of America and Société Générale, the bond insurer assured investors this week in a securities filing that all major doubts about the firm’s future are over.
"If you look at what we do, fundamentally, MERS is the mortgagee on behalf of the investor and its assigns, it’s not a whole lot more complicated than that. And that role as an agent is well rooted in the laws of this country. So when you get down to it, and when we get challenged, we typically prevail. We simply take away all the clutter and present what we do, and what the laws actually say, and we get there," MERS CEO Beckmann said in an exclusive profile only in HousingWire magazine..
The CFPB is currently paying close attention to the individuals/small players, as well as the larger institutional mortgage companies. With respect to the small players, the CFPB is looking at the loan officer, real estate agent and developer. A common violation that these smaller firms or individuals commit, in addition to possible violations resulting from social media posts, stems from agreements among themselves. Read More
Ladies and gentlemen, it’s been some time since the mortgage bond world felt shaken to the core. But shaken, right now, it feels, according to several recent conversations I’ve had on the subject. Read More