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Is this a sign? Hedgies closing distressed debt funds
Did you hear? The credit crisis is officially over — at least according to the handful of hedge fund managers who have shut down their “credit crisis funds” over the past few weeks.
Pimco to help set capital buffers for insurers’ mortgage-backed securities
The National Association of Insurance Commissioners has chosen the Pacific Investment Management Co. LLC to help regulators determine…
Ratings agencies under fire over residential-mortgage-backed securities
National ratings agencies re-ceived criticism Thursday at a meeting of the insurance industry for their failure to properly…
Mortgage Bankers Association proposes replacing Fannie, Freddie
A mortgage industry group wants Fannie Mae and Freddie Mac replaced with private companies that would be able to issue mortgage bonds formally backed by the federal government.
SEC sues defunct Brookstreet Securities and its former CEO
Federal regulators have sued a defunct California investment brokerage and its former CEO, accusing them of fraud in selling more than $300 million worth of risky mortgage-backed securities to unsophisticated investors.
Obama plan targets 9M homeowners
President Obama’s mortgage plan aims to keep up to 9 million families from losing their homes to foreclosure.
Jan. foreclosures off 10% from Dec.
Efforts to stem the tide of foreclosures appear to be having some impact as foreclosure activity fell 10% in January from December, according to RealtyTrac.
Nasdaq ties index to TARP recipients
Nasdaq OMX Group Inc. unveiled trading and investment products tied to firms that received government assistance. One…
FHA vulnerable to risky lenders
The federal government is ill-equipped to stop the migration of predatory subprime lenders to the rapidly growing sector…
N.Y. Fed to begin buying MBS
The Federal Reserve Bank of New York today kicked off its initiative to support the U.S. housing market by purchasing mortgage backed securities.
U.S. launches $800B program to ease credit
The Fed is teaming up with the the Treasury to purchase up to $800 billion in troubled assets through purchases of mortgage- and asset-backed securities as part of an effort to pump more liquidity into the financial markets.
Ambac to settle $3.5B in mortgage debt exposure
The exposure was in four transactions: two collateralized-debt-obligation squared transactions and two high-grade CDOs of asset backed securities.
Lack of clarity undermines TARP, firms say
Fully 91% of firms said a lack of clarity about the way the federal government’s Troubled Asset Relief Program works is making them less willing to participate in it.
Freddie’s portfolio falls at annual rate of 37.9%
Freddie Mac on Friday said the size of its mortgage investment portfolio decreased at an annualized rate of 37.9% in September.
Bush signs $700B bailout package
The House of Representatives on Friday approved a $700 billion bailout package and passed it along to President Bush who immediately signed it into law.
Will California need $7B?
California might require as much as $7 billion in emergency funding from the federal government to pay the salaries of critical state employees.
SIFMA gives thanks
SIFMA has applauded the House for passing legislation that will enable the purchase of $700 billion in bad loans and mortgage-related assets.
$700 billion bailout revived
The Bush administration and Congress returned to the negotiating table Friday on a $700 billion financial bailout, following the collapse of Washington Mutual.
Pimco fund looks to buy $5 billion of debt
Pacific Investment Management Co. wants to raise as much as $5 billion to purchase distressed mortgage-backed debt.
Ambac settles with Citigroup for $850M
The payment terminates the contract Ambac had with the Citi, covering a $1.4 billion AA-rated CDO of asset-backed tranches.
