The servicer alleges that “illegitimate time” was billed to the company for hours FIS workers spent “patronizing strip clubs and casinos.”

All Credit Considered Mortgage is offering investment-property mortgages that do not require verification of the borrower’s income or employment.

Much of the growth in MBS investments came from two large thrifts: Charles Schwab Bank and E*Trade Bank…

Credit Suisse was a major issuer of post-crisis jumbo MBS, but hasn’t come to market with a jumbo deal since the fourth quarter of 2015.

Issuers of commercial MBS are facing significant problems with risk-retention requirements five months after the rule took effect, according to an industry attorney. Industry participants continue to push for guidance from federal regulators, but the response so far has been limited. “The rule is woefully inadequate as a guidebook for compliance, with massive white space, periodically interrupted by obscure bubbles of facial clarity,” according to Rick Jones, a partner at the Dechert law firm. “Unclear rules and potentially existential liability are not the stuff of a deal easily made.” In a recent commentary, Jones said...

To assess the effectiveness of the rule in meeting the agency’s goals, the CFPB will examine the impact of major provisions of the measure on a set of consumer outcomes, including mortgage costs…

A Manhattan appeals court raised the burden of proof for Ambac Assurance, which seeks to recover monetary damages from Bank of America in an insurance case involving $1.68 billion in securities backed by high-risk mortgages from now-defunct Countrywide Home Loans. Attorneys with Shepherd Smith Edwards & Kantas said a panel of the Appellate Division, First Judicial Department, ruled that Ambac may not use New York insurance law as the sole basis for arguing that it does not have to prove certain elements of fraud in its claims against BofA. The court also barred Ambac from using the statute to recover damages. The court held...

In years past, RPM has been a selective buyer of mostly smaller shops.

If Trump is successful, presumably the money would flow through to the bottom line of Fannie and Freddie and counted toward earnings.

The retail segment saw the biggest decline, dropping 34.6 percent to an estimated $221.0 billion.