Hints and tips:
.../return manipulation/phoney happiness of accounting gimmicks until the cows come home, but the simple fact is that institutional investors like the smoothness of private markets....
...Eurobank sold €1.5bn of unsecured consumer loans last year, while National Bank of Greece, Piraeus and Alpha Bank aim to sell a total of more than €11bn of NPLs this year....
...The bundling of lower-quality subprime home loans into mortgage-backed securities drew fierce criticism for its role in the financial crisis....
...of markets for foreign exchange and interbank loans....
...– ignored “pervasive” deficiencies in the underlying loan pools and the servicing of the loans....
...: David notes that it seems that plain-vanilla ABS backed by bank loans is the ECB’s pick of the asset purchase bunch at the moment . Will Janet Yellen be a “high pressure” Fed chair?...
...(Financial Times) Investors including Pimco and BlackRock are considering legal action against Ocwen Financial, in a sign of unease at the growing clout of non-bank mortgage-servicing companies which are...
...plans to buy $39bn of mortgage-servicing rights from Wells Fargo....
...(Financial Times) China’s June new home prices rose in all but one city, in the latest official survey of 70 cities....
...Next, as Capital Economics said in a note on Wednesday, the new bonds are more expensive than the IMF loans they replace, so debt servicing costs will rise....
...that forces securitisers to keep a slice of the loan to ensure their interests are aligned with those of investors....
...Bank of America plans to sell another $100bn of mortgage servicing rights in the next few weeks....
...There are now several international banks willing to finance deals in Ireland, including Bank of America, Deutsche Bank and Nomura ” says another person with knowledge of the AIB deal....
...The Wall Street Journal reported that the error rate — that is, the rate of breaking the law — was uhh, or making mistakes, was 11 per cent at Wells Fargo, 9 per cent at Bank of America, and there are reports...
...abuse of the foreclosure system that allowed banks to seize homes from defaulting borrowers....
...able to continue servicing its restructured debt....
...Leveraged Finance Description: Banks and specialised collateral debt obligations, which have traditionally provided the bulk of leveraged loans in Europe, are retrenching....
...Heavy intervention by the central bank has helped keep the Egyptian pound steady through the turmoil, with losses against the US dollar of under 4 per cent last year....
...(FT) Student Loans: the Consumer Protection Bureau in the US reckons that student loans topped $1tr as of last year, which is 16 per cent higher than an estimate by the Federal Reserve Bank of New York....
...Fannie Mae and Freddie Mac, the twin government-sponsored mortgage financiers that the same year became wards of the state, are seeking to return tens of billions of dollars in soured home loans to groups...
...That does not mean the banks will necessarily force the company into default. Cemex has so far met every obligation and condition attached to a $15bn bank loan in 2009, which saved it from bankruptcy....
...Bank of America has held settlement negotiations with some states over home foreclosures separately from talks with a larger group of state and federal officials, Bloomberg reports, citing people familiar...
...In the meantime, Goldman is close to leaving the mortgage-servicing business with a sale of its Litton Loan unit to Ocwen due to be announced within days, reports Bloomberg....
...US buy-out firm JC Flowers, the top shareholder of Shinsei Bank, and Elliott Management, which operates a loan servicing business in Japan, may also submit bids, one source said....
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