RMBS

Based on volume, this week was one of the quietest weeks since July with many securitization participants were away attending two major conferences through part of the week.

Ally has “launched a process to explore strategic alternatives for its agency mortgage servicing rights portfolio and its business lending operations.”

Chairman of the House Oversight Committee Rep. Darrel Issa has asked NCUA’s Inspector General to investigate the use of contingency fees in civil suits against banks over their sale of MBS to five failed corporate credit unions.

The board of ResCap Thursday afternoon said it approved a $1.5 billion bid by insurance conglomerate Berkshire Hathaway to buy roughly 47,000 whole loans from the bankrupt mortgage company.

Fixed mortgage rates inched up in the week ending Oct. 25 as reported in Freddie Mac's weekly survey.

Nationstar bid roughly $2.907 billion for ResCap's origination and servicing assets, about $93 million shy of the top bid placed by Ocwen Financial and its partner Walter Investment.

Bank of America Corp. sold defective residential mortgage loans to the GSEs that later defaulted, the U.S. government said in a $1 billion fraud lawsuit against the bank.

Ocwen Financial sent out a memo to employees early this afternoon informing them that the firm won the bid for Residential Capital Corp.

Royal Bank of Scotland will pay $42 million to settle a probe by Nevada’s attorney general into its mortgage-purchase practices before the housing crisis.