RMBS

Rahm Emanuel on Tuesday shot down the idea of the city's plan to seize underwater mortgages, the Chicago Tribune reported.

The bank will pay over $6.5 million to settle claims that its brokerage firm and a former executive did not properly disclose risks in MBS investments.

The data provides a good early projection of shifts in bank assets and liabilities.

Some firms grew their MSR portfolios by fourfold or more over the past 12 months.

The firm has goal is to put at least $500 million of investor money to use, buying MSRs in the secondary market.

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.