RMBS

Fitch Ratings see a growing risk of weaker enforcement of mortgage contracts in Spain.

A bipartisan group of senators led by Sen. Bob Corker, R-Tenn., is drafting legislation designed to reform the housing finance system, including a plan to wind down the government-sponsored enterprises.

A large portfolio sale of collateralized debt obligations reportedly planned by Royal Bank of Scotland is set to test market appetite for non-agency residential mortgage-backed securities.

Standard & Poor’s said in a report today that despite the weakening credit fundamentals for Dutch RMBS, collateral pools to date remain broadly stable.

The issue of how long the statute of limitations runs and when the statute clock starts on representations and warranties provisions in RMBS is under active litigation and adds another layer of risk that investors must consider.

J.P. Morgan plans to issue its second RMBS deal of 2013, the $442.4 million Mortgage Trust 2013-2.

Freddie Mac will begin securitizing modified single-family loans, according to the government-sponsored enterprise.

Ally Financial agreed to pay $2.1 billion to unsecured creditors of its bankrupt mortgage unit, Residential Capital, including securitization trusts.

A large portfolio sale by a European bank is set to test market appetite for non-agency residental mortgage-backed securities (RMBS).