Investments

Moody's expects 2010 revenue to increase approximately 13%

Moody's Corp. [stock MCO][/stock], parent to the credit rating agency Moody's Investors Service, updated guidance for 2010 earnings and revenue in a Securities and Exchange Commission filing on Thursday. The company now expects full-year 2010 revenue to increase approximately 13% versus 2009, with full-year 2010 diluted earnings per share to be in the range of $2.08 to $2.14 versus previous guidance of $1.90 to $1.96.
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MountainView advises $110 million second-lien, home-loan deal

Residential whole loan adviser MountainView Capital Group facilitated the purchase of approximately 2,500 performing second-lien closed-end loans and home equity lines of credit. The $110 million unpaid principal balance of the loan portfolio consists of collateral spread out nationally. Denver-based MountainView represented a buyside institution in purchasing the assets from a mortgage originator.
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Weekly Initial Jobless Claims Down 6.1% to 473,000

The number of people filing for unemployment benefits fell for the first time in a month, with initial claims falling 6.1% for the week ending Aug. 21. The decline exceeded analysts’ expectations; most consensus estimates had projected a slight decrease from the prior week, when about half a million people filed initial unemployment claims. The Labor Department said Thursday that seasonally-adjusted initial claims slid to 473,000 last week, down from an upwardly revised 504,000 for the previous week. Briefing.com consensus had expected claims to drop to 485,000.
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Allonhill Rolls Out RMBS Due Diligence Platform

Risk management firm Allonhhill is taking a new residential mortgage-backed securities (RMBS) due diligence platform live today. The new approach to RMBS meets credit-rating agency requirements for third-party review firms. It emphasizes transparency and accountability in identifying loans underlying RMBS trusts.
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SIFMA Forms Own Securitization Group After ASF Split

In a letter to members last night, the Securities Industry and Financial Markets Association (SIFMA) CEO Tim Ryan announced the formation of the trade body's own securitization advocacy group. The news comes after SIFMA and the American Securitization Forum (ASF) yesterday parted operational ways.
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Origination Funding May Increase as Credit Restrictions Ease in 2Q10, Analysts Predict

A recent set of research focusing on 2010 strategies for investors of agency mortgage-backed securities (MBS) by analysts at Barclays Capital finds that credit availability for mortgage originations may increase in the next six to 12 months. However, the situation will remain tight in the next three to six months, they add, as the market grapples with ongoing risk aversion sentiments, loan repurchases stabilization and new regulatory procedures that will need this time to take hold.
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Monday Morning Cup of Coffee

A look at the stories across HousingWire’s desk during the holiday break…with more coverage to come on bigger issues: All eyes are on the GSEs as the government will soon pull money out of the secondary markets and information on new, more taxpayer-friendly executive pay packages becomes available.
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FDIC OKs Delay of FAS 166, 167 Effect on Capital

The board of directors at the Federal Deposit Insurance Corp. on Wednesday finalized a new capital rule that addresses industry concerns raised by Financial Accounting Standards (FAS) 166 and 167. FAS 166 and 167, which take effect in January, will require financial institutions to bring certain securitized assets onto balance sheets.
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