Defaults

Cut mortgage down payments to 10%: B of A's Moynihan

05/19/17

Down payment standards should be relaxed to just 10% to spur homebuying among millennials, Bank of America CEO Brian Moynihan said this week.

[more]

Laws to fast-track vacant home foreclosures slowly gain traction

04/28/17

Years after the worst of the housing crisis, states still dealing with high foreclosure activity are weighing laws to speed the process on vacant or abandoned properties.

[more]

More evidence that rising student debt is bad for banks

04/03/17

New research from the New York Fed confirms a lingering worry for the banking industry: More prime-age, college-educated borrowers are delaying the decision to take out their first mortgage as they focus instead on paying off their student loans.

[more]

N.Y. deal could allow Ocwen to purchase MSRs again

03/28/17

Ocwen Financial is a step closer to the day when it can resume purchases of mortgage servicing rights.

[more]

The Party’s Over for Corporate Bonds, as Moody’s Warns of Rising Defaults

03/01/16

[wsj-responsive-image P="http://si.wsj.net/public/resources/images/BN-MU851_SHALEO_P_20160228140650.jpg" J="http://si.wsj.net/public/resources/images/BN-MU851_SHALEO_J_20160228140650.jpg" M="http://si.wsj.net/public/resources/images/BN-MU851_SHALEO_M_20160228140650.jpg" caption="" credit="Rick Oxford/Reuters" placement="Inline" ]

Led by rising defaults in the energy and mining sectors, the default rate on corporate bonds this year is expected to hit its highest rate since the financial crisis, Moody’s said in a new report.

[more]

Diocese of Duluth Seeks Bankruptcy Protection

12/08/15

The Roman Catholic Diocese of Duluth, Minn., filed for bankruptcy Monday after being hit with an $8.4 million verdict in a clergy sex abuse case, Read the Daily Bankruptcy Review story via The Wall Street Journal.  Last month, a jury awarded $8.4 million to a man who says he was sexually abused in the late 1970s by a priest serving in the Diocese of Duluth, which spans 10 counties in northeastern Minnesota.

[more]

Energy Future Wins Chapter 11 Plan Confirmation

12/04/15

Energy Future Holdings Corp. won confirmation Thursday of its $42 billion chapter 11 plan after lining up support for the proposal from its numerous creditors, Daily Bankruptcy Review reported via the Wall Street Journal. A bankruptcy judge approved the plan after Energy Future, the Texas power company formerly known as TXU Corp., piled up settlement after settlement, quieting the acrimony that had marked the chapter 11 proceeding since its start in April 2014.

[more]

Coal Miner Alpha Natural Resources Files For Bankruptcy

08/03/15

Alpha Natural Resources Inc., one of the largest U.S. coal producers, filed for chapter 11 bankruptcy protection on Monday to cut its more than $3 billion debt load, The Wall Street Journal reported. The Bristol, Va., company will likely sell some of its best mines or turn them over to creditors.

[more]

The Daily Docket: Lehman Brothers Raises Cash Estimate for Creditors to $90.6 Billion

02/03/15

The team unwinding Lehman Brothers Holdings Inc. boosted its estimate of how much cash it expects to bring in for creditors to $90.6 billion, buoyed primarily by a settlement with Lehman Brothers Bankhaus A.G., the German arm of Lehman’s investment-banking operation, The Wall Street Journal reports.

[more]

The Daily Docket: Caesars Restructuring Hits a Snag

01/20/15

Caesars Entertainment Corp . may have violated federal law when it shuffled its casino assets, said a federal judge in a ruling that could complicate the casino company’s efforts to unload $18.4 billion in debts in a bankruptcy restructuring of its largest unit, The Wall Street Journal reports.

[more]