RMBS

The second lien market has been on the decline since the housing bust of 2008, but there’s growing evidence that business is starting to gain traction.

Bradley Lerman was appointed as Fannie Mae executive vice president, general counsel and corporate secretary effective Oct. 1, the GSE said today in a release.

The Mortgage Bankers Association said Monday that it has hired Pete Mills as its new senior vice president of residential policy and member services effective Oct. 1.

Barclays Capital analysts expect that publicly placed issuance for 2012 in the European asset-backed market will exceed their original forecast.

Ten industry groups are urging the Consumer Financial Protection Agency to issue a qualified mortgage rule allowing them to adhere to current underwriting standards without fear of litigation.

The $65 million Citigroup loan made to Waypoint Real Estate Group for investments in distressed single-family houses converted to rentals, may be a precursor to the much anticipated securitization of these assets.

The Federal Open Market Committee surprised the market in that the announced MBS buying was limited to agency fixed-rate MBS only and not Treasurys, although it will continue Operation Twist through yearend as scheduled.

The Federal Housing Administration has opened the bids for its Sept. 12 sale of 5,000 nonperforming formerly insured FHA loans and the results are “very, very positive,” acting commissioner Carol Galante said.

Rep. Scott Garrett, R-N.J., is working a bill that would encourage the re-emergence of a private-label securities market by exempting certain loan pools from risk retention and SEC registration.

The Consumer Financial Protection Bureau opposes a 20% downpayment on low-risk mortgages. It will not use its special rule-writing powers to undermine the Dodd-Frank Act, director Richard Cordray told lawmakers Thursday.