RMBS

Bluestep Finans AB and Blustep Bostadslan AB are working on a Swedish Krona denominated non-conforming RMBS issuance called Bluestep Mortgage Securities No.2.

Through bitter experience, bond purchasers learned about the moral hazard embedded in private RMBS and their grossly inadequate legal protections.

Stonegate Mortgages may be the newest name added to the prime RMBS pipeline in a sector of securitization that has seen volumes increased 2.7 times compared to 2012.

Shellpoint the home lender founded by mortgage-bond pioneer Lewis Ranieri is lining up its second RMBS deal of 2013.

Wells Fargo is exploring the sale of some mortgage servicing rights because the market is flush with potential buyers and it sees little opportunity to cross-sell many servicing clients.

Laurie Goodman has left Amherst Securities, residential mortgage-backed securities strategy group to pursue a role at the Urban Institute, full-time.

Paragon Mortgages is working on the first U.K. buy-to-let transaction of 2013.

Progress Residential said today that its new revolving credit facility of $400 million it has entered into with Deutsche Bank will be used to bulk up its portfolio of single family home rental assets.

The European Central Bank said on Monday that some residential mortgage-backed securities and ABSs backed by loans to small and medium-sized enterprises not meeting its new loan-level reporting requirements could still be eligible for repo funding.

Barclays will pay $36.1 million to settle allegations that it financed, purchased, and securitized residential loans that were “presumptively unfair under Massachusetts law,” during the subprime mortgage meltdown.