RMBS

Community banks and other small mortgage lenders will have access to a new securitization platform that Fannie Mae and Freddie Mac are going to build over the next five years, according to the GSE regulator.

Paratus AMC formerly GMAC-RFC, priced the senior notes from its £120 million ($183 million) nonconforming deal, Virgil Mortgage No. 1.

The Structured Finance Industry Group has 55 members and counting. The new trade organization’s website now has a link to all of those who have joined the group.

Global issuance of commercial mortgage-backed securities (CMBS) is on a tear, according to stats from Dealogic.

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.