RMBS

Flagstar Bancorp must stand trial over charges it breached contracts for financial guaranty insurance on roughly $1 billion in RMBS it had issued during the run-up to the financial crisis.

California Gov. Jerry Brown this week signed three new laws that are part of the Homeowner Bill of Rights.

The National Credit Union Administration alleged the sale of faulty MBS by Barclays to U.S. Central Federal Credit Union and WesCorp Federal Credit Union contributed to their 2009 collapse.

The Mortgage Bankers Association and other industry groups have lined up considerable legal talent to prevent and block any local community from invoking eminent domain.

Richard D. Baum has been elected as chairman of Redwood Trust, the only current consistent issuer of private-label MBS.

PennyMac has agreed to buy $452 million of nonperforming whole loans from undisclosed sellers, according to a recent SEC filing.

Federal banking agencies today announced a regulatory capital estimation tool to evaluate recently published Basel III capital proposals.

Lender Processing Services (LPS) data reveal that both the foreclosure rate and mortgage delinquencies continued to decline through August.From a database of nearly 40 million loans nationwide that represents approximately 70% of the overall market, LPS said in its “first look” report that August’s foreclosure rate was 4.04%. This figure represents a 1% decline from the previous month and 2% less than a year ago. Additionally, it is the lowest foreclosure rate since October 2010.

Interactive Mortgage Advisors (IMA), Denver, is offering two small bulk mortgage servicing rights packages one backed by loans in Pennsylvania and the other in Nevada.

Republican presidential candidate Mitt Romney and running mate Paul Ryan released a white paper on Friday outlining a plan to improve the housing market.