U.S. Rep. Scott Garrett (R-NJ) today (March 18) introduced comprehensive proposed federal covered bond legislation in the form of a standalone bill: the “United States Covered Bond Act of 2010.”
The bill draws extensively from (but is not identical to) the text of a legal framework for covered bonds that Rep. Garrett proposed last year [...]

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The National Association of Realtors® (NAR) — a powerful voice in the U.S. housing arena — recommends moving toward a future where covered bonds could play a significant role in U.S. real estate financing.
This recommendation comes as part of a new NAR document on how best to restructure Fannie Mae and Freddie Mac, the [...]

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Premature? -  G-8 Plans to Reverse Stimulus as Rebound Signs Grow – By Simon Kennedy and Rainer Buergin -  Group of Eight finance ministers began drawing up contingency plans for rolling back budget deficits and bank bailouts as the economy shows signs of recovery and investors start worrying about inflation. – Bloomberg
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WaMu’s bad loans are $29 billion windfall for JPMorgan Chase – By Ari Levy and Elizabeth Hester – Bloomberg News – JPMorgan Chase stands to reap a $29 billion windfall, thanks to an accounting rule that lets the second-biggest U.S. bank transform bad loans it purchased from Washington Mutual into income. – Seattle Times
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Securities [...]

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