CFPB collecting data on 600 million credit accounts despite privacy, security risks

CFPB collecting data on 600 million credit accounts despite privacy, security risks

GAO report: Weaknesses in CFPB ability to assess data collection, oversight troubling

3 burning appraisal questions for the CEO of Veros

This is what Darius Bozorgi means

Ginnie Mae launches 5 new initiatives to increase mortgage lending

HUD secretary warns American Dream remains out of reach
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Items Tagged with 'RMBS'

ARTICLES

Single GSE bond is coming, but when?

FHFA, GSEs provide update at ABS East
Ben Lane
“The CSP is a very important goal of the enterprises,” FHFA Senior Associate Director Robert Fishman said. “We have made real progress on the software build, but development will continue for quite a while. This is not a done deal.”
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What to expect at ABS East

Massive securitization market conference brings thousands to Miami
Ben Lane
“ABS East 2014 will provide comprehensive coverage on the revival and strengthening of the US securitization market, along with what our markets should look like in the future, given the importance of securitization to the real economy,” conference organizer Information Management Network said.
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Virginia targets banks with $1.15B toxic mortgage lawsuit

Virginia Retirement System lost $383 million
Brena Swanson
In the largest financial fraud action ever brought by the Commonwealth of Virginia, Attorney General Mark Herring announced a $1.15 billion lawsuit against some of the largest commercial banks for fraud committed against Virginia taxpayers during the height of the financial crisis.
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2 reasons the single-family rental securitization market won’t exceed $20 billion

$1 trillion market? Not even close.
Laurie Goodman
As home prices are bid up, smaller investors, who can do their own property management and thereby lower their total property management costs, will remain interested. But these securitizations based on loans to small investors face two challenges.
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Two Harbors bringing another jumbo RMBS to market

$374.34 million securitization receives AAA ratings from DBRS
Ben Lane
Two Harbors is set to bring its third Agate Bay securitization to market, in the form of Agate Bay Mortgage Trust 2014-2. The $374.34 million RMBS is backed by 543 loans with an average loan balance of $689,393.
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Redwood Trust to issue third jumbo RMBS of 2014

Once-prolific issuer brings $330 million offering to market
Ben Lane
Things have slowed down considerably in 2014, with Redwood only issuing one jumbo RMBS through its Sequoia platform in the first six months of the year. Redwood issued its second jumbo RMBS in July and now it's prepping its third such offering.
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Tony West leaving DOJ after negotiating massive RMBS settlements

Led DOJ’s toxic mortgage task force
Ben Lane
In his role, he headed the DOJ’s residential mortgage-backed security task force that in the past several months has secured massive settlements with Citigroup, JPMorgan Chase, Bank of America and others over the banks’ toxic mortgage lending practices that led to the collapse of the housing economy.
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Vacancies drop again in Invitation Homes rental securitizations

Continues downward trend
Ben Lane
In Invitation Homes’ $1 billion single-family rental securitization, which launched earlier this year, the cash flow vacancy rate of the underlying properties fell to 5.4% as of July 31, down from June’s revised figure of 6.2%.
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San Francisco earthquake rattles jumbo mortgage-bond collateral

Magnitude 6.0 earthquake should serve as risk reminder
Ben Lane
Sunday’s magnitude-6.0 earthquake should serve as a reminder that bond investors need to weigh the inherent risks that come with investing in the San Francisco market. The foundation of those investments is literally built on shaky ground.
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Bank of America reportedly reaches $17 billion RMBS settlement

Settlement would be largest yet
Ben Lane
If true, the $17 billion settlement would exceed the previous high of $13 billion paid by JPMorgan Chase in November to settle similar claims. As of press time, Bank of America did not have a comment on the rumors.
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