RMBS

Tom Deutsch, executive director of the trade group, warned Chicago against the use of eminent domain to take underwater mortgages.

But Ginnie officials are reluctant to take on more lenders, especially those who do not have the financial strength to share the risk of loan defaults.

The bureau's rules will further increase compliance costs and can result in midsized and smaller servicers joining forces.

A court document shows the agreed upon schedule for the discovery process and the hearings. The schedule specifies the dates and somewhat increases the timing certainty, Barclays said.

The insurer's net income improved to $376.5 million in 2Q12 from a net loss of $43.1 million in 2Q11.

The agency alleged that the banks misrepresented the quality of the loans underlying RMBS that Colonial purchased.

AG Mortgage Investment Trust plans to hold a public offering of 5,000,000 shares of its common stock to purchase more residential mortgage-backeds.

There was very limited economic news or other key events affecting MBS activity this week and July prepayments became a major influence on trading.

Stern Agee predicted that if rates stay low MSR values will be “written down again” in the fall.

Though FHA's current book of business will perform much better than loans written before 2009, it may have recapitalized too quickly through higher premiums.