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Richard Blumenthal, the attorney general of Connecticut, has sued Moody’s Investors Service and Standard and Poor’s for “knowingly assigning tainted credit ratings to risky investments backed by sub-prime loans.”
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Commercial and multifamily mortgages continue to have the lowest charge-off rates of any loan type at banks and thrifts, according to the Mortgage Bankers Association.
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Several mortgage industry groups have expressed concern about proposed changes to the Secure and Fair Enforcement for Mortgage Licensing Act by the Department of Housing and Urban Development.
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The Federal Housing Financing Agency has released a white paper that suggests regulators are looking for ways to reduce the knock-on effect of the failure of one part of the economy on another.
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Robert Hull, cfo of GMAC, is leaving the company to join Providence Equity Partners.
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Increasing rates of prepayments have narrowed yield spreads on agency mortgage-backed securities to historic levels.
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The U.K.’s Financial Services Authority has outlined tougher stress-test requirements for banks to accommodate a potential larger-than-expected decline in gross domestic product this year.
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The Association of German Banks has unveiled a new standard for German small and medium-sized entities securitization.
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The Australian debt market is springing back to life with a series of bond offers led by banks as well as non-financial companies.
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Fortis plans to change its name to the uncapitalized ageas next year, subject to shareholder approval.