Finance

Risk-retention rules were designed to encourage more responsible underwriting and to better align the interests of securitization sponsors and investors.

The American Securitization Forum fell into turmoil last week when most of the board resigned in a dispute with the group’s executive director over governance and bonuses.

Home prices across Canada are overvalued by approximately 20% in real terms on an estimated basis.

American Realty Capital Properties celebrated its status as the largest equity real estate investment trust on the stock exchange at the event.

Some of the most talked-about securitizations did not make it to market during the month of February.

Citigroup plans to issue a $240 million of commercial mortgage-backed securities backed by a single shopping mall.

Fannie Mae reported a 23% jump in loan purchases in January, compared to the prior month.

Standard & Poor's has raised its investment grade ratings on three classes of commercial mortgage-backed securities from Banc of America Large Loan Inc.'s series 2009-FDG.

Covered bonds from north of the border are changing, and could be making a comeback here.

PacTrust recent hires include industry veterans Rick Cassano and Zoila Price in a effort to grow its mortgage business.

A report from Fitch Ratings on Fannie Mae and Freddie Mac said the ongoing U.S. fiscal policy debate is not expected to have a direct impact on the two government-sponsored enterprises.

The Senate Banking Committee examined the Federal Housing Administration's fiscal problems on Thursday, with lawmakers still divided on the best approach to take for reforming the troubled agency.

Ambac Financial Group earned $143.6 million in net profit for the fourth quarter of 2012, up from a net loss of $963.2 million in 4Q 2011.

After reducing legacy risks during a profitable quarter, Assured Guaranty Ltd. is making plans to start wrapping municipal deals later this year.

MBIA Inc. had a better quarter during the last three months of 2012, reporting an adjusted pretax income of $110 million, compared with an adjusted pretax loss of $118 million during the third quarter.

Bank of America Corp. is under investigation by the New York Attorney General’s Office over the bundling of mortgage loans into securities.

Freddie Mac posted earnings of $4.5 billion in the fourth quarter, up from $2.9 billion the prior quarter, and completed its first profitable year since 2007.

Discontinued operations lead to Impac having a net loss of $3.4 million for 2012, compared with net earnings of $3.2 million in 2011.

Rep. Maxine Waters also asked the government-sponsored enterprises' conservator to provide a list of outside "stakeholders" it consulted before making its decision.

Sending cuts scheduled to kick in Friday will constrain the availability of Federal Housing Administration mortgages that account for about a quarter of originations, threatening its role in the year-long housing recovery.