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MORTGAGE LOAN NEWS
HAMP Mods Finally Gathering Steam 2010-03-12 17:28:28 The pace of permanent Home Affordable Mortgage Program loan modifications is now averaging roughly 50,000 a month with the cumbersome government program finally getting its legs. Downgrades Coming for Re-securitized MBS? 2010-03-12 17:28:28 Moody's Investors Service has placed 40 RMBS re-securitization tranches with a current outstanding balance of $500 million on watch for possible downgrade. Sovereign Exiting Warehouse Lending 2010-03-12 17:28:27 Stung by warehouse lines it made to the now-defunct Taylor, Bean & Whitaker, Ocala, Fla., Sovereign Bank of Pennsylvania has decided to exit the sector, according to warehouse lending officials and customers that received credit from the bank. FDIC Extends Safe Harbor Policy on Securitizations 2010-03-12 17:28:27 The Federal Deposit Insurance Corp. has extended its "safe harbor" policy for six months while its board continues to work toward the adoption of new securitization standards. Treasury Eyeing Nationwide Negative Equity Program 2010-03-12 17:28:27 The Obama administration is working on a national program to address negative equity, but first it wants to test existing programs managed by state housing finance agencies. 4Q Lending Volumes Weakest of the Year, Refis Down 2010-03-12 17:28:27 Mortgage bankers funded roughly $414 billion of new home loans in the fourth quarter, the industry's worst quarter of the year and an indication that production -- as anticipated -- will be weaker in 2010. GMAC Plans to Correct RMBS Servicing Practice by April 2010-03-12 17:28:27 GMAC Mortgage LLC's corrective actions related to an unusual servicing practice that could hurt ratings on nearly $6 billion of RMBS it services are scheduled for completion by April 1, according to a Moody's Investors Service report. 2010-03-12 17:28:27 GMAC Financial Services has hired Goldman Sachs to start the process of selling the company's money-losing mortgage unit Residential Capital Corp., according to a new published report. LPS Asks for $3 Million to Add 350 Jobs 2010-03-12 17:28:27 Mortgage vendor Lender Processing Services Inc. is requesting nearly $3 million in city and state incentives to add 350 full-time jobs in Jacksonville, Fla., according to a report in the Jacksonville Business Journal. B of A Executive Takes Mortgage Jobs with Wells 2010-03-12 17:28:27 Kevin Jackson, previously a director in convexity products at Bank of America Merrill Lynch, will be joining Wells Fargo Securities as part of the firm's efforts to bolster its residential financing, origination, and trading activities. |
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