Mortgage-backed security http://www.globalpost.com/taxonomy/term/30058/all en S&P faces US gov't suit over 2007 mortgage bond ratings http://www.globalpost.com/dispatch/news/afp/130204/sp-faces-us-govt-suit-over-2007-mortgage-bond-ratings <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The US Justice Department plans to sue Standard &amp; Poors over its rating of mortgage bonds prior to the 2008 financial crisis, S&amp;P said Monday.</p> <p>The suit, according to S&amp;P, targets its ratings in 2007 of certain collateralized debt obligations, packages of mortgages sold to investors that were at the center of the the 2008 financial crisis sparked by the US housing collapse.</p> <p>S&amp;P promised a vigorous defense, saying the looming lawsuit would be "entirely without factual or legal merit."</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130204/sp-faces-us-govt-suit-over-2007-mortgage-bond-ratings" target="_blank">read more</a></p> Finance Financial economics Mortgage-backed security S&P AFP Mon, 04 Feb 2013 21:00:45 +0000 Agence France-Presse 5745776 at http://www.globalpost.com S&P faces US gov't suit over 2007 mortgage bond ratings http://www.globalpost.com/dispatch/news/afp/130204/sp-faces-us-govt-suit-over-2007-mortgage-bond-ratings-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The US Justice Department plans to sue Standard &amp; Poors over its rating of mortgage bonds prior to the 2008 financial crisis, S&amp;P said Monday.</p> <p>The suit, according to S&amp;P, targets its ratings in 2007 of certain collateralized debt obligations, packages of mortgages sold to investors that were at the center of the the 2008 financial crisis sparked by the US housing collapse.</p> <p>S&amp;P promised a vigorous defense, saying the looming lawsuit would be "entirely without factual or legal merit."</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130204/sp-faces-us-govt-suit-over-2007-mortgage-bond-ratings-0" target="_blank">read more</a></p> Finance Financial economics Mortgage-backed security S&P AFP Mon, 04 Feb 2013 21:45:44 +0000 Agence France-Presse 5745818 at http://www.globalpost.com S&P faces US gov't suit over 2007 mortgage bond ratings http://www.globalpost.com/dispatch/news/afp/130204/sp-faces-us-govt-suit-over-2007-mortgage-bond-ratings-1 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The US Justice Department plans to sue Standard &amp; Poor's over its rating of mortgage bonds prior to the 2008 financial crisis, S&amp;P said Monday.</p> <p>The suit, according to S&amp;P, targets its ratings in 2007 of certain collateralized debt obligations, packages of mortgages sold to investors that were at the center of the the 2008 financial crisis sparked by the US housing collapse.</p> <p>S&amp;P promised a vigorous defense, saying the looming lawsuit would be "entirely without factual or legal merit."</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130204/sp-faces-us-govt-suit-over-2007-mortgage-bond-ratings-1" target="_blank">read more</a></p> Finance Financial economics Mortgage-backed security Standard & Poor's AFP Mon, 04 Feb 2013 22:30:43 +0000 Agence France-Presse 5745843 at http://www.globalpost.com US housing bust a memory, but recovery incomplete http://www.globalpost.com/dispatch/news/afp/130301/us-housing-bust-memory-recovery-incomplete <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>When US homebuilder Pulte announced earnings last month, it boasted higher profits and a surge in new orders as fresh evidence of an improved American housing market.</p> <p>But perhaps the most striking aspect of the report was Pulte's bet on the future. The company boosted its budget for land purchases by 27 percent to $1.2 billion for 2013 and 2014.</p> <p>Still, Pulte chief executive Richard Dugas pledged the group would remain "prudent."</p> <p>"We are not going to chase volume, but intend to invest intelligently," Dugas said on a conference call with analysts.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130301/us-housing-bust-memory-recovery-incomplete" target="_blank">read more</a></p> Mortgage-backed security Pulte Homes Subprime mortgage crisis AFP Fri, 01 Mar 2013 07:17:38 +0000 Agence France-Presse 5770524 at http://www.globalpost.com Woori Finance-task http://www.globalpost.com/dispatch/news/yonhap-news-agency/130401/woori-finance-task <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Yonhap News Agency </div> </div> </div> <!--paging_filter--><p>SEOUL, April 2 (Yonhap) -- South Korea's No. 1 banking group Woori Finance Holdings Co., which marked the 12th anniversary of its creation on Tuesday, faces a daunting task of putting itself in private hands in a smooth way, market watchers said.</p> <p>Woori Finance was established in 2011 after merging four troubled banks -- Hanvit, Peace, Kwangju and Kyongnam -- and one merchant bank in the aftermath of the 1997-98 Asian financial crisis. Woori Finance is Korea's first financial services company.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://english.yonhapnews.co.kr" class="button wire yonhap"></a></p> <p><span>Copyright Yonhap News Agency, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/yonhap-news-agency/130401/woori-finance-task" target="_blank">read more</a></p> Business Economics Financial economics Mortgage-backed security Politics Woori Finance Holdings Co. Yonhap News Agency Tue, 02 Apr 2013 02:30:42 +0000 Yonhap News Agency 5798935 at http://www.globalpost.com Woori Finance faces daunting task on 12th anniversary http://www.globalpost.com/dispatch/news/asianet/130403/woori-finance-faces-daunting-task-12th-anniversary <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Asianet </div> </div> </div> <!--paging_filter--><p></p><P> South Korea's No. 1 banking group Woori Finance Holdings Co., which marked the 12th anniversary of its creation on Tuesday, faces a daunting task of putting itself in private hands in a smooth way, market watchers said.</p><P>Woori Finance was established in 2011 after merging four troubled banks -- Hanvit, Peace, Kwangju and Kyongnam -- and one merchant bank in the aftermath of the 1997-98 Asian financial crisis.</p> <p><a href="http://www.globalpost.com/dispatch/news/asianet/130403/woori-finance-faces-daunting-task-12th-anniversary" target="_blank">read more</a></p> Business Economics Financial economics Mortgage-backed security Politics Woori Finance Holdings Co. Asianet Wed, 03 Apr 2013 15:11:31 +0000 Asianet 5800338 at http://www.globalpost.com BofA CEO, ex-CEO must face mortgage disclosures lawsuit http://www.globalpost.com/dispatch/news/thomson-reuters/130417/bofa-ceo-ex-ceo-must-face-mortgage-disclosures-lawsuit <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Jonathan Stempel</p> <p>(Reuters) - A federal judge has revived a securities fraud lawsuit accusing Bank of America Corp &lt;BAC.N&gt; Chief Executive Brian Moynihan, his predecessor Kenneth Lewis, and others of misleading shareholders about the risk the bank might have to buy back large amounts of soured mortgages.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130417/bofa-ceo-ex-ceo-must-face-mortgage-disclosures-lawsuit" target="_blank">read more</a></p> Business Economy of the United States Labor Law Mortgage industry of the United States Mortgage-backed security Thomson Reuters Wed, 17 Apr 2013 23:15:06 +0000 Thomson Reuters 5818841 at http://www.globalpost.com US stocks close mixed; S http://www.globalpost.com/dispatch/news/afp/130506/us-stocks-close-mixed-s <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>US stocks closed mixed Monday, with banking giant Bank of America advancing strongly on news of a key mortgage securities settlement.</p> <p>At the closing bell, the broad-based S&amp;P 500 edged to a new all-time closing high, rising 3.10 (0.19 percent) to 1,617.52. </p> <p>The Dow Jones Industrial Average slipped 4.15 (0.03 percent) to 14,969.81. The tech-rich Nasdaq Composite Index rose 14.34 (0.42 percent) to 3,392.97.</p> <p>Trading was subdued amid a lack US economic data, a sharp contrast to Friday when a strong April jobs report drove major gains in the leading indices.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130506/us-stocks-close-mixed-s" target="_blank">read more</a></p> MBIA Mortgage-backed security Primary dealers AFP Mon, 06 May 2013 22:31:26 +0000 Agence France-Presse 5832140 at http://www.globalpost.com Lacker: Fed should get out of MBS, avoid overstimulating housing http://www.globalpost.com/dispatch/news/thomson-reuters/130508/lacker-fed-should-get-out-mbs-avoid-overstimulating-housing <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>RICHMOND, Virginia (Reuters) - A recovery in the housing market means the Federal Reserve should think about how to reduce its holdings of mortgage-backed securities over time in order to avoid creating another bubble in real estate, a top central banker said on Friday.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130508/lacker-fed-should-get-out-mbs-avoid-overstimulating-housing" target="_blank">read more</a></p> Business Fixed income securities Mortgage-backed security United States housing bubble Thomson Reuters Wed, 08 May 2013 21:25:31 +0000 Thomson Reuters 5833791 at http://www.globalpost.com Deutsche Bank settles L.A. claims on foreclosure blight http://www.globalpost.com/dispatch/news/thomson-reuters/130629/deutsche-bank-settles-la-claims-foreclosure-blight <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>FRANKFURT (Reuters) - Deutsche Bank said it has settled a lawsuit with the U.S. city of Los Angeles that accused the bank of allowing hundreds of foreclosed properties to deteriorate into slum conditions and destabilize communities.</p> <p>"The settlement will be paid by the (loan) servicers responsible for the Los Angeles properties at issue and by the securitization trusts that hold the properties," the bank said in a statement late on Friday.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130629/deutsche-bank-settles-la-claims-foreclosure-blight" target="_blank">read more</a></p> Deutsche Bank Investment Law Mortgage-backed security Primary dealers Social Issues War Thomson Reuters Sat, 29 Jun 2013 18:06:25 +0000 Thomson Reuters 5871325 at http://www.globalpost.com Mortgage funds hit with worst quarter in two decades http://www.globalpost.com/dispatch/news/thomson-reuters/130701/mortgage-funds-hit-worst-quarter-two-decades <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>NEW YORK (Reuters) - Funds that focus on U.S. home loans recorded their biggest quarterly loss in nearly two decades as investors fled out of bonds in the past six weeks on fears that less stimulus from the Federal Reserve will push up interest rates.</p> <p>The 62 open-end, close-end and exchange-traded funds which specialize in mortgage-backed securities and tracked by Lipper - a unit of Thomson Reuters - on average posted a 1.87 percent loss in the second quarter, the steepest decline since the first quarter of 1994, Lipper said.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130701/mortgage-funds-hit-worst-quarter-two-decades" target="_blank">read more</a></p> Lipper Mortgage-backed security United States housing bubble Thomson Reuters Tue, 02 Jul 2013 02:33:19 +0000 Thomson Reuters 5873092 at http://www.globalpost.com Fed buys $13.3 billion of mortgage bonds, sells none http://www.globalpost.com/dispatch/news/thomson-reuters/130711/fed-buys-133-billion-mortgage-bonds-sells-none <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>NEW YORK (Reuters) - The Federal Reserve bought $13.3 billion of agency mortgage-backed securities from July 4 through July 11, less than the $16.9 billion it purchased last week, the New York Federal Reserve Bank said on Thursday.</p> <p>In a move to help the housing market, since October 2011 the U.S. central bank has been using funds from principal payments on the agency debt and agency mortgage-backed securities, or MBS, it holds to reinvest in agency MBS.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130711/fed-buys-133-billion-mortgage-bonds-sells-none" target="_blank">read more</a></p> Economy of the United States Mortgage industry of the United States Mortgage-backed security Technology Thomson Reuters Thu, 11 Jul 2013 20:01:55 +0000 Thomson Reuters 5881797 at http://www.globalpost.com U.S. financial regulators looking to ease mortgage norms: WSJ http://www.globalpost.com/dispatch/news/thomson-reuters/130723/us-financial-regulators-looking-ease-mortgage-norms-wsj <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>(Reuters) - U.S. financial regulators are planning to relax a key provision that requires banks to withhold a portion of the mortgage securities they sell to investors, the Wall Street Journal reported, citing people familiar with the matter.</p> <p>The Federal Reserve and Federal Deposit Insurance Corp are among regulators considering loosening rules governing mortgage-backed securities, but nothing has been finalized yet, the Journal said.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130723/us-financial-regulators-looking-ease-mortgage-norms-wsj" target="_blank">read more</a></p> Financial economics Mortgage-backed security United States housing bubble Thomson Reuters Wed, 24 Jul 2013 02:33:46 +0000 Thomson Reuters 5891951 at http://www.globalpost.com TransUnion: Rate of late payments on US mortgages falls to lowest level in 5 years http://www.globalpost.com/dispatch/news/the-canadian-press/130806/transunion-rate-late-payments-us-mortgages-falls-lowest-leve <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> The Canadian Press </div> </div> </div> <!--paging_filter--><p>LOS ANGELES, Calif. - Homeowners are doing a better job of making timely mortgage payments, a trend that brought down the national late-payment rate on home loans in the second quarter to the lowest level in five years.</p> <p>The percentage of mortgage holders at least two months behind on their payments fell in the April-June quarter to 4.09 per cent from 5.49 per cent a year earlier, credit reporting agency TransUnion said Tuesday.</p> <p>The latest rate also declined from 4.56 per cent in the first three months of the year.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.globalpost.com/terms-use#cp">Copyright 2013 Canadian Press.</a></p> <p>All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.</p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/the-canadian-press/130806/transunion-rate-late-payments-us-mortgages-falls-lowest-leve" target="_blank">read more</a></p> Mortgage industry of the United States Mortgage-backed security Transunion United States housing bubble The Canadian Press Tue, 06 Aug 2013 07:07:00 +0000 The Canadian Press 5903487 at http://www.globalpost.com The taper: let's not call a retreat a victory - James Saft http://www.globalpost.com/dispatch/news/thomson-reuters/130806/the-taper-lets-not-call-retreat-victory-james-saft <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By James Saft</p> <p>(Reuters) - If the Federal Reserve does begin to taper its purchases of bonds in September there is really only one way to interpret the move: as a retreat.</p> <p>Not a victory, because, as can be seen most clearly in last Friday's U.S. July labor report, the employment market is not strong, not creating high-quality jobs, and wages are actually falling. If your dream is to flip burgers to pay off your education debt, this is your economy.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130806/the-taper-lets-not-call-retreat-victory-james-saft" target="_blank">read more</a></p> Business Economics Human Interest Labor Law Mortgage-backed security United States housing bubble Thomson Reuters Tue, 06 Aug 2013 07:35:29 +0000 Thomson Reuters 5903507 at http://www.globalpost.com