RMBS

There were 60,000 completed foreclosures in the U.S. in June 2012, according to CoreLogic’s National Foreclosure Report for June released today.

In expanding its note sale pilot program, the Department of Housing and Urban Development (HUD) is imposing new certification requirements on servicers that are willing to assign defaulted Federal Housing Administration (FHA) loans for the upcoming sales.

Chicago is the latest city to pass a resolution to hold hearings on whether to use eminent domain to seize underwater mortgages from private investors.

More records were set as the week commenced along lower coupon MBS and 10-year Treasury note yields as a result of global growth and eurozone worries.

PennyMac Mortgage Investment Trust, a fast growing buyer of mortgages from correspondents — including Jumbos — recently inked a deal to receive a $100 million repo line from Barclays Bank .

Citigroup Global Markets analysts said in a report today that, while the Countrywide RMBS settlement may still be contested by other parties, the withdrawal of Walnut's Place entities of their separate rep and warranty lawsuit means the agreement's terms are will likely be finalized soon.

National Credit Union Administration (NCUA) Chairman Debbie Matz hailed Wednesday’s federal court ruling denying a bid by Wall Street banks to dismiss NCUA’s suits regarding corporate credit union investments and said the agency is determined to see the cases through.

New advances are providing technology to mortgage industry and secondary market participants that allows them to access detailed information about RMBS.

Even though fewer borrowers are delinquent on their home mortgages compared to a year ago, late payments rose in June, compared to May, by 3.4%, according to Lender Processing Services’ latest “First Look” report.

Residential funders issued $34.7 billion of Ginnie Mae-backed MBS in June, down nearly $2 billion from the month prior, but a 32% spike from a year ago, according to new figures released by the agency.