Apollo Residential Mortgage filed an S-11 yesterday with the Securities and Exchange Commission (SEC) to offer 10 million shares in its IPO.

Ocwen Loan Servicing has updated its servicing advance recovery policies to minimize cash shortfalls on current investment-grade rated, non-agency RMBS.

The bank-owned PNC Mortgage Thursday confirmed that it hired mortgage industry veteran E. Todd Chamberlain as its president and chief operating officer beginning Aug. 8.

Prospect Mortgage, Sherman Oaks, Calif., Wednesday afternoon agreed to pay the Department of Housing and Urban Development (HUD) $3.1 million to settle charges that it created sham affiliated business arrangements as part of a scheme to share in “kickbacks” paid to these joint ventures.

Moody's Investors Service just published a report that gives an update on Irish RMBS performance. The ratings agency is maintaining a negative outlook on Irish RMBS citing expectations of increased delinquencies and defaults in these deals.

While a majority of the fixed-income and equity markets have recovered from their price weakness, a new report by Amherst Securities Group (ASG) analysts finds that there are still considerable price drops across all the sectors of the securitized products market.

SNR Denton has hired Robert Bostrom as partner and co-head of the global financial institutions and funds sector, according to a press release from the law firm. The appointment is effective mid-August.

The delay over raising the U.S. statutory debt limit could cause the country's 'Aaa' bond rating to be downgraded, which would lead to a default on U.S. Treasury debt obligations, said Moody's Investors Service.

Dexia SA has filed a lawsuit yesterday against Deutsche Bank. The suit cited fraud in connection with more than $1 billion in RMBS it purchased.

Mortgage rates dropped in the week ending July 14 in response to the sharp decline in yields following the much-weaker-than-expected jobs report, said Freddie Mac Chief Economist Frank Nothaft.

JPMorgan Chase & Co. Chief Executive Jamie Dimon talked up the housing market's prospects, downplayed his bank's exposure to Europe and urged parties in Washington to resolve the standoff over the debt ceiling Thursday.

As housing prices continue to slide, the loan-to-value ratios of always-performing loans have in many cases crept higher than those on defaulted loans, according to a new report from Moody's Investors Service.