Freddie Mac: Here are the top 5 improving metro markets for housing

The Census Bureau is cooking the new home sales numbers

You can’t make bricks with imaginary straw

The 12 hottest housing markets right now

And the biggest losers in the price growth race
W S

Items Tagged with 'Countrywide'

ARTICLES

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.
Read More

BofA beats expectations but sees declining revenue, per share value

Litigation costs, decline in originations, MSRs weigh on 3Q
Trey Garrison
Bank of America beat analyst expectations, reporting net income of $168 million for the third quarter of 2014, on top of shrinking revenues driven by decline in originations and mortgage servicing rights, among other factors.
Read More

Looming layoffs at Bank of America signal shift in mortgage servicing

Impact already being felt throughout industry
Ben Lane
The impact of Bank of America's $16.65 billion settlement is beginning to be seen in the mortgage industry. The settlement will affect more than just the bank, the aggrieved homeowners and the government. It isn’t just the big banks that feel the pain of these settlements. It affects everyone.
Read More

$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.
Read More

$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.
Read More

Bank of America urges judge to toss “Hustle” case verdict

Case links to Countrywide mortgages
Brena Swanson
Bank of America asked U.S. District Judge Jed Rakoff in Manhattan to throw out a jury verdict finding it liable for fraud over defective mortgages sold by its Countrywide unit that resulted in a $1.27 billion penalty.
Read More

BofA reaches $16.65B settlement over "toxic waste" mortgages

Loans date back to Countrywide and Merrill Lynch
Brena Swanson
The rumors from yesterday are now confirmed. “Bank of America knew that such wholesale channel loans – described internally as “toxic waste” – presented vastly greater risks of severe delinquencies, early defaults, underwriting defects, and prepayment," according to the SEC filing on the settlement.
Read More

Countrywide’s Mozilo may face lawsuit over subprime mortgages

This time prosecutors have a new weapon
Brena Swanson
Although Countrywide Financial no longer exists, co-founder Angelo Mozilo is allegedly not in the clear as prosecutors still want to hold him responsible for the company’s role in the U.S. housing bubble, according to a Bloomberg report.
Read More

$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.
Read More

Monday Morning Cup of Coffee: BofA mortgage woes piling up

Nonbanks under the gun; Homebuyers getting older
Trey Garrison
Bank of America still trying to get unstuck from the mortgage bond tar, interest rates have a 5.3% target rate, and home price growth slows to 4.6% projected growth for 2014.
Read More