RMBS

While the changes to Spanish law governing mortgage foreclosures are ostensibly favorable to borrowers, Moody's believes they are credit neutral for Spain’s RMBS.

An April 2 ruling on RMBS loans in breach of representations and warranties given by a bank is credit positive for investors of both residential and commercial mortgage backed securities, according to Moody’s Investors Service.

A judge has ruled that Bank of America does not have to defend itself against a lawsuit filed by the Federal Deposit Insurance Corp. on behalf of a failed bank.

Gleacher & Co. said it is closing its MBS and rates, and credit product businesses effective immediately. It will remain in the investment banking business.

This is only days before the American Securitization Forum (ASF) is scheduled to host its annual conference, also in Last Vegas.

Bank of America, Citigroup and JPMorgan Chase all received failing grades on Fannie Mae's test of mortgage servicers based on overall performance, customer service and foreclosure prevention efforts.

Australian residentical mortgage-backed securities (RMBS) are benefitting from a benign local economic conditions.

UBS lost its appeal today to dismiss the Federal Housing Finance Agency lawsuit against it for fraud and misrepresentation in mortgage-backed securities, according to court documents.

Obvion announced plans to issue a €744.7 million ($969.10 million) Dutch RMBS, Storm 2013-II— its 2nd transaction of 2013.