Founders of the hedge fund allege that company executives are breaching their fiduciary duty by blocking shareholders from hearing details of a rival bid to Rithm Capital’s offer.
Vehicle ABS issuance reached a record $46.5 billion in the third quarter, and that doesn't count rental-fleet financing. But a sharp decline in auto-dealer floorplan securitization led to a slip in business ABS production. (Includes three data tables.)
Industry trade groups have sent letters to the Federal Reserve chair, asking for an end to its quantitative tightening and rate hikes in an effort to reduce mortgage rates and stimulate home sales.
Mortgage rates remain stubbornly high by modern standards with the spread between the 10-year Treasury and MBS showing no mercy. Is there any hope on the horizon for a reprieve? Probably not.
A lawsuit accusing Moody’s and S&P of fraud and negligent misrepresentation in rating auction rate securities in the runup to the 2008 crisis was dismissed by a New York court last week.
The GSEs saw an uptick in uninsured mortgage business from the second to the third quarter, while FHA purchase and refi volume surged. (Includes three data tables.)
Extending rep-and-warrant relief to loans that successfully exit COVID-19 forbearance could further reduce the already small volume of buyback requests.
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