Fannie Mae reported weaker earnings in the third quarter – including a loss on its single-family business – but also announced that its MBS market share set a new all time record: 52%.

As expected, superstorm Sandy in the northeast contributed to a 5% decline in mortgage application activity in the week ending Nov. 2. The Refi Index fell 5% to 4244.3, while the Purchase Index was down 4.8% to 176.4.

Speeds increased more than projected in October due primarily to much stronger HARP-related activity than was expected -- particularly from Bank of America.

Middle Market CLOs continue to make-up a small part of primary volumes, driven by CLO mezzanine investors that are attracted to the wider spreads these deals offer.

Bank of America Merrill Lynch analysts examined specific issues that now concern ABS players, namely: the fiscal cliff and budget policy; change in Fed leadership and policy; and the government's housing policy.

Consumer ABS sectors, including autos and credit cards, have shown comparatively good credit performance throughout the recession and following period of "lethargic recovery."

Regulators are expected to miss a global deadline to finalize Basel III capital and liquidity requirements by yearend.

After losing out in a bankruptcy auction of former GMAC's ResCap mortgage servicing assets, the company insisted that there are plenty of other, potentially better portfolio acquisitions waiting in the wings.

Most of a lawsuit that accuses JPMorgan Chase of misleading mortgage investors before the meltdown may advance, a federal judge in Manhattan has decided.

PennyMac Mortgage Investment Trust was considered one of the runner-up bidders on a $70 billion package of mortgage servicing rights that was sold to JPMorgan Chase by MetLife.

U.S. primary ABS issuance continues its slower, post hurricane pace. Around $4bn priced last week, a below-average amount, and this week is likely to see the same.

Citigroup Global Market said in a report today that approzimately 48,500 loans with about $16.3 billion in unpaid principal balance in flood affected areas may not have the right insurance coverage, making them vulnerable to losses.