Secondary

Allonhill, a mortgage due diligence provider that two weeks ago lost a consulting contract with the Office of the Comptroller of the Currency, has given layoff notices to dozens of employees, according to industry consultants who were briefed on the matter.

REO assets represented one-third of the overall CMBS delinquency rate in April, reaching $11.1 billion in scheduled loan balance.

Citing the $2 billion loss at JPMorgan Chase, Massachusetts Senate candidate Elizabeth Warren is calling for the enactment of a new version of the Glass-Steagall Act.

Dissatisfaction is growing in Congress with the Obama administration’s decision to leave mortgage investors out of talks that led to a $25 billion settlement.

Dissatisfaction is growing in Congress with the Obama administration’s decision to leave mortgage investors out of talks that led to a $25 billion settlement.

John Robbins has created mortgage production platforms from scratch before, most notably with American Residential Mortgage and American Mortgage Network. But his latest venture, he admitted, was in at least one way a little more difficult because of how the industry environment has changed in the past few years.

Newcastle Investment Corp. said it will be a partner in Nationstar’s plan to purchase $374 billion of servicing rights from Residential Capital Corp. by investing upwards of $300 million in the “excess” servicing strip on the deal.

Matt Zames, the head of capital markets for JPMorgan Chase's mortgage banking division, as well as co-head of global fixed income in its investment bank, has been named the new chief investment officer for the company.

TriLyn has formed an investment management platform focused on opportunities in high-yield commercial real estate debt.

A group of Wall Street banks and ratings agencies told a federal court in Miami that “greed” and the need to grow earnings was responsible for the 2009 demise of Eastern Financial Florida CU, the one-time $2.4 billion credit union, not alleged fraud on their part in the sale of $100 million of risky financial derivatives known as collateralized debt obligations.