Finance

The firm's relative value outlook is still unchanged from earlier in 2012, even given the tighter spreads and as the consumer ABS market still functions as a safe haven for many buyers.

The House of Representatives Tuesday afternoon passed a bill that requires the Federal Housing Administration (FHA) to submit a plan to Congress on how it intends to avert a bailout of its financially strapped mortgage insurance fund.

Although uncertainty remains about the Fed's purchase program's direction, RBS expects the Fed to announce QE3 in September meeting.

The FHFA announcement stated that lenders will be relieved of certain repurchase obligations for loans that meet specific payment requirements.

NewDay USA, a nationwide reverse mortgage lender, Tuesday named former Ginnie Mae president Joseph Murin as its new president and chairman.

The Consumer Financial Protection Bureau’s examination teams are focusing most of their attention on large bank and nonbank mortgage servicers.

The recovery in the multifamily sector is hitting on all cylinders with rents rising, vacancies falling, and accelerating construction, while the single-family market is still on a slow path of revival.

Credit Agricole Public Sector is in the market with a covered bond backed by export loans guaranteed by export credit agencies of highly-rated sovereigns.

The$250mln CMBS called COMM 2012-LTRT will be issued by General Growth Properties, Kroll Bond Rating Agency said today.

Redwood Trust is back in the market with a fourth RMBS deal of 2012 called Sequoia Mortgage Trust 2012-4.

Delinquencies for U.S. timeshare ABS have normalized at their historical levels following increases that occurred in 2008 and 2009, according to a Fitch Ratings report released today.

Prepayment speeds were faster than expected in August, particularly along 3.5% and 4.0% coupons and moderately seasoned 4.5s.

BMW Financial Services launched a $783 million securitization from is dealer floorplan master owner trust.

Fitch Ratings said that not like other traditional CMBS deals, all collections are aggregated and applied to one waterfall.

Depositories will continue to enjoy robust residential gain-on-sale margins through the third quarter, increasing both revenues and earnings, Credit Suisse said.

Wells Fargo Bank has various controls and procedures in place to handle the onslaught of modified CMBS loans returned from special servicing, Fitch Ratings said in a just-released report on the bank's servicing platform.

The first week of September was really about the last two days. The European Central Bank made a monetary policy decision on Thursday while Friday's employment report increased the chances that the Fed will implement QE3 this month.

The Securities Industry and Financial Markets Association and the American Securitization Forum wrote letters to the FHFA supporting its stance on eminent domain.

A federal judge ruled yesterday that an agreement between National Credit Union Administration and Goldman in 2010 allowed the regulator to extend the statute of limitations on securities claims.