Moody's Investors Service has begun offering data on the historical performance of certain residential mortgage-backed securities deals in the United Kingdom, Germany, and Switzerland.The data are currently available for all German and Swiss RMBS deals and U.K. RMBS issued by GMAC-RFC, Southern Pacific Mortgage, and Northern Rock's Granite Master Trusts, according to Moody's. "In the coming quarters, this coverage will be extended to cover further U.K. RMBS deals as well as other jurisdictions in the [Europe, Middle East and Asia] region," the rating agency reported. Moody's can be found online at http://www.moodys.com.
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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.
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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.
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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.
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The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
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Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
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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.
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