RMBS

The national mortgage delinquency rate continued its downward trend in the third quarter, dropping to 4.09% compared to 5.33% during the same period a year ago

Concern is mounting among investors and analysts that Nationstar, Ocwen Financial and Walter Investment are getting so big so quickly that they are becoming too difficult to manage.

Freddie Mac has purchased reinsurance for some of the same exposure to losses on residential mortgages that it has unloaded to investors through issuance of general obligation bonds.

Standard & Poor’s has assigned preliminary ratings to the upcoming deal called Fastnet Securities 9. Morgan Stanley is lead arranger on the deal.

Federal Home Loan Bank members are wary of nondepositories gaining access to district bank securitization programs..

Rising U.S. home prices haven’t boosted the performance of mortgage bonds as much as might be expected, and Fitch Ratings says this is due to the length of time – and amount of money – it takes to sell repossessed homes.

Freddie Mac sold its second offering of notes transferring credit risk on the mortgages it insures at much lower cost than its initial offering in late June.

By far the most prolific issuer of RMBS post-crisis, the REIT is readying a $325 million backed by prime jumbo mortgages.