RMBS

The deal's collateral was close to five years seasoned and included new origination 10-year product that usually forms part of Fannie's offerings.

The Consumer Financial Protection Agency (CFPB) Friday issued two proposed rules designed to make mortgage servicing more consumer friendly, giving borrowers advanced notice of interest rate adjustments and how to avoid costly forced-placed insurance.

Most of the trigger breaches arose in deals exposed to banks downgraded below ‘P-1.’

The 30-year fixed rate averaged 3.59% for the week ending Aug. 9, up four basis points from last week.

The pilot program will be offered to roughly 500 distressed homeowners to keep them in their homes.

The changes considered tail risk and stressed the backend of structures, said S&P MD Vandana Sharma in a conference call today.

The REIT wants to service the GSE products through a subservicing firm called Cenlar.

A copy of the memo, written by MBA president David Stevens, says the rules “will likely be proposed with some comment period.”

The Federal Housing Finance Agency on Wednesday slammed plans by some local governments to use eminent domain to refinance underwater mortgages.