RMBS

JPMorgan may be trying to put the sins of the past behind it; however, put-back risk for the industry is alive and well despite efforts by the federal government to impose what it deems to be appropriate mortgage underwriting standards.

EverBank Financial Corp. in Jacksonville, Fla., has agreed to sell its default mortgage servicing platform, along with more than $20 billion in rights, to a subsidiary of Walter Investment Management.

JPMorgan may be trying to put the sins of the past behind it; however, put-back risk for the industry is alive and well despite efforts by the federal government to impose what it deems to be appropriate mortgage underwriting standards.

Citigroup plans to issue a non-agency residential mortgage backed security, a person with the bank confirmed.

If the “irrational restriction of credit” in today’s market continues, the effect on the economy could be greater than the losses seen during the crisis, says Lewis Ranieri.

Adding a 30% downpayment requirement to the qualified residential mortgage rule would only increase the cost of credit for borrowers seeking private loans, the MBA says in a comment letter.

A reported, developing settlement between mortgage securities investors and JP Morgan — separate from the $13 billion mortgage settlement recently announced — would be more generous to bondholders than a similar deal by Countrywide

Blackstone and Deutsche Bank are very close to marketing the first REO- to-Rental securitization that will be rated, confirmed a source familiar with the deal.