Hints and tips:
...The BoE went further, temporarily loosening lenders’ capital buffer restrictions — helpful given banks are already trying to spare their customers’ pain with mortgage holidays and fee-free financing....
...Mortgage availability at higher LTVs has fallen by c85% while with more than 8m workers furloughed, we are cautious about incremental demand....
...Lex spies an opportunity in mortgage credit — which should continue to grow as long as corporate debt concerns don’t hammer consumers....
...After nearly five years as chief executive, Mr Moynihan has cut expenses aggressively, restored capital and hammered out legal settlements with US regulators and private investors worth an estimated $52bn...
...This can be seen in the financial sector, Head argues, pointing out that digitisation enabled some companies to create the subprime mortgage business....
...‘Six people were rejected from the trial’s jury pool, including a professor and a mortgage underwriter’ (NYT Dealbook)....
...FHFA is seeking to recoup losses on mortgage securities incurred by government-controlled mortgage giants Fannie Mae and Freddie Mac....
...The settlement also requires remedial action by Citigroup in its review and approval of offerings of certain mortgage-related securities....
...Mike Abramsky, analyst at RBC Capital Markets, said the move was unprecedented, suggesting a higher likelihood of repair and recall scenarios....
...” said David Darnell, president of global commercial banking. “They call us back. They show up.”...
...It gives a big capital advantage to AAA rated tranches of mortgage backed securities compared to lower-rated tranches and corporate bonds. And it ignores the risk of liabilities altogether....
...As the Court’s argument continued in TSC Industries, Inc. v....
...– FT Alphaville Gross v Bond, or Pimco v BarCap: The debate flares – FT Alphaville...
...The writer is head of asset allocation at Barclays Capital...
...However, Tim Bond, head of global asset allocation at Barclays Capital, argued that recent data releases had continued to build a strong case in favour of a “V-shaped” economic recovery....
...“We maintain that investors should be wary of confusing an early upturn with a V-shaped recovery,” Mr Shaw said, noting that credit conditions remain strained. ”There are some encouraging, if tentative,...
...“There has been a focus on banks’ capital, liquidity and their mortgage exposure.”...
...See XLCA v Merrill, above....
...Now we have to work out how to get down – and most mountaineering accidents happen on the way down,” says Julian Callow of Barclays Capital....
...“V-shaped” recoveries, in which employment comes roaring back, take place only when there’s a lot of pent-up demand....
...plans for a £179m capital injection into B&B in July....
...Countrywide Financial Corporation, et al is ostensibly brought on behalf of purchasers of such CWALT, Inc. mortgage pass-through certificates, as well as various other mortgage-backed securities registered...
...By buying insurance against defaults on corporate debt and residential mortgages, banks could reduce the amount of idle capital they had to hold on their balance sheet....
...Lahde’s first fund, US Residential Real Estate Hedge V Class A, soared 712.8 per cent in the year to the end of October, before this month’s sell-off pushed it past the 1,000 per cent mark....
...But they also cautioned that there may not be a simple V-shaped recovery....
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