ACA Financial Guaranty Corp., a subsidiary of ACA Capital Holdings, has announced the signing of a letter of intent with FSI Capital to sell ACA's U.S. asset-backed securities and corporate credit CDO asset management business. The terms of the proposed deal were not disclosed. FSI Capital, through its affiliates and subsidiaries, manages 17 collateralized debt obligations totaling about $7.5 billion. ACA also announced its entry into a letter of intent with Resource Financial Fund Management Inc. to sell its U.S. collateralized loan obligation asset management business.
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Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
8h ago -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
9h ago -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
April 17 -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
April 17 -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
April 17 -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16