Bank of America Corp.'s plan to eliminate roughly 3,500 jobs this quarter marks just the start of an efficiency drive that could reduce the company's global workforce by about 10%, according to a report in the Charlotte Observer.

A coalition of industry groups is urging Congress to act quickly to maintain the GSE loan limit at $729,750, saying the pending expiration is hurting both home sales and application volume.

When the Federal Housing Finance Agency (FHFA) late Friday unveiled its $200 billion lawsuit against investment banking firms that sold faulty MBS to Fannie Mae and Freddie Mac, it also targeted executives who signed the original shelf registration documents on the securities in question.

RBS Securities has poached Pat Beranek from Mizuho Securities to be jointly responsible for trading non-mortage ABS with Alan Johannsen, the Stamford, Connecticut-based bank said in a release. Beranek will report to Adam Siegal, co-head of U.S. ABS, MBS and CMBS Trading.

The state attorneys general have a secret weapon in their negotiations with the largest mortgage servicers: the results of a U.S. Department of Housing and Urban Development (HUD)investigation into the banks' robo-signing practices.

Wyndham Worldwide Corp. has completed a term securitization deal called Sierra Timeshare 2011-2 Receivables Funding.

Auto auto deals are filling up the ABS pipeline this week from The Huntington National Bank (HNB), Santander Consumer USA, Ally Bank and AmeriCredit Financial Services.

Stephen L. Ledbetter, senior vice president of MBS for the Ginnie Mae, is leaving the agency for a senior position at the Federal Deposit Insurance Corp. (FDIC), according to officials familiar with the matter.

Manager Activity: Autos Book Runner Amount (US$ Mil) Rank Mkt.

2011 2010 2009 ABS (Public + 144A) 96,622.9 92,037.8 112,575.8 ABS (Public + 144A excluding CDOs) 92,960.4 90,787.5 111,003.2 ABS (Public Only) 55,466.2 45,097.9 67,398.2 ABS (144A Only) 41,156.7 46,939.8 45,177.7 Non-Agency MBS 45,591.7 18,948.8 7,558.4 Agency MBS 227,791.6 338,820.8 190,783.6 CMBS 26,679.6 17,658.6 3,698.4

MORTGAGE DATA 30-yr. Fixed 15-yr. Fixed 5-yr Treasury 1-yr Treasury- MBA Refi Home Purchase Rate Mortgage Rate Mortgage Indexed ARMs Indexed ARMs Index Index Week ending 09/22/11 4.09%

The percentage of HAMP modifications completed by mortgage servicers fell 10% in July from the prior month while the percentage of proprietary restructurings rose 11%, according to new government figures.