RMBS

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.

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.