GLG News by Mortgage Servicing Experts

This article is illustrating finger pointing looking for a villain, instead of "post-mortem" to find a hero.  What the industry needs is a clear plan for rebuilding the subprime securitization market.  In my opinion, a great part of that will be tied to the outsourced due diligence function,...

The Economic Stimulus Act, approved today, will go along way towards its name, and stimulate the economy.  Questions of how much money, too whom, and what may have been sacrified in the cross-party negotiation will remain unanswered, but one thing is clear.  Congress has delivered a very potent...

The reduction in interest rates is going to have a negative impact on the existing mortgage portfolios due to adverse selection. The decrease in those seeking unemployment benefits is very misleading. The stimulus package is not going to help those in real trouble and will pay some bills for most.

Citibank announced that it will cut back on its branch expansion strategy and may sell some recently opened branches due to high costs and/or poor results.  Any future expansion initiatives are likely to be limited to larger markets. What are the implications for Citibank's future in retail banking?...

This article is a very good brief about the RiskMetrics IPO, but doesn't attempt to broadly touch the many areas that are set to shine from recent events in the subprime mortgage market.

It is terrific that one day gains reclaimed much of the territory lost over the various Asian exchanges on Tuesday.  The significance of the instant reaction to the price cut at the Fed's lending window was one of timing.  The question is whether this particular means for economic stimulus...

FICO scores are a good toll, but not the only tool. Shortcuts used in the name of efficiency when evaluating credit risk does not count as prudent underwriting practice. Understanding what went wrong is the key to successful recovery.

2008 isn't shaping up as a good year for the mortgage industry as delinquencies hit record highs, foreclosures reach record levels, builders are faced with too much inventory and in December 2007, applications for building permits fell by 8.1%, which marked the seventh consecutive monthly decline and...

NYSE snags rival Amex for $260 million in stock to expand its "options" business, which offers higher margins than stock markets. The deal will provide NYSE with additional listings, as well as increase its scale in U.S. options, ETFs, close-end funds, structured products and cash equities. NYSE also...

TD Bank (Toronto Dominion) agreed to purchase Commerce Bancorp for $8.5 billion in 2007, however, shareholder lawsuits and a suit from its former CEO and a suit filed against his wife and her design firm may be putting the deal in jeopardy. TD Bank agreed to pay a 7% premium over Commerce's closing...