A federal judge on Monday indicated he plans to dismiss National Credit Union Administration (NCUA)’s suit against RBS Securities for the sale of failed MBS to WesCorp Federal Credit Union, a ruling that potentially jeopardizes all of NCUA’s claims against Wall Street banks for the failure of the five corporate credit unions.
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The Mortgage Bankers Association (MBA) is willing to back a GSE-related refinancing bill introduced by Sen. Al Franken, D., Minn., but wants assurances that the industry will no longer be hit with buyback requests on loans that are several years old.
March 15 -
The great land rush to riches in the Jumbo securitization market appears to have hit a brick wall.
March 15 -
Mortgage rates recorded modest increases in the week ending March 15, according to Freddie Mac's survey.More specifically, 30-year fixed mortgage rates averaged 3.92% compared to 3.88% last week. Meanwhile, 15-year fixed moved up to 3.16% from 3.13%; 5/1 hybrid ARMs rose two basis points to 2.83%, while one-year ARMs "jumped" six basis points to 2.79%.Mortgage rates are likely to have moved up higher as the survey is done earlier in the week.
March 15 -
Portugal's Banco Santandar Totta has hopped on the buyback bandwagon, announcing a tender for its RMBS.
March 15 -
Moody's Investors Service has said that Australian ABS performance experienced slightly higher delinquencies across most programs.
March 15
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The apartment market is recovering nicely and Fannie Mae and Freddie Mac are enjoying the ride.
March 15 -
Recent increases in auto sales are a harbinger for higher auto ABS issuance in the upcoming months, according to an emailed note this morning from Standard & Poor's.
March 15 -
Yesterday the Federal Reserve stated again that it would maintain its existing policies of reinvesting principal payments from its holdings of agency debt and agency MBS in agency MBSs.
March 14 -
The recent transfers to special servicing on CMBS large loans have demonstrated the default risk from near-term tenant rollovers, according to Barclays Capital in a report released Wednesday.
March 14 -
Bank of America, JPMorgan Chase, and three other residential servicers agreed to pay $25 million to New York State to resolve certain monetary claims over the use of the MERS database after reaching a $25 billion national settlement on robo-signing charges.
March 14 -
The size of the residential loan market over the short-term will be determined by the definition of 'qualified mortgage' (QM).
March 14 -
After holding above 4000 for eight straight weeks, the Refinance Index fell 4.1% to ~3972, according the Mortgage Bankers Association (MBA).
March 14