RMBS

Freddie Mac's weekly mortgage rate survey reported new record lows for 30- and 15-year fixed mortgage rates in the week ending July 26. The 30-year rates averaged 3.49%, down four basis points from last week, with the no point rate at 3.67%. 15-year fixed rates averaged 2.80% versus 2.83% previously.

WASHINGTON - Sales of new single-family houses fell 8.4% to a seasonally adjusted annual rate of 350,000 in June, the Commerce Department reported Wednesday.

CoreLogic is now offering a new product called RiskModelDIRECT for large and smaller banks and investors to retrieve CoreLogic Risk Model projections for non-agency RMBS advanced prepayment, default, severity, and delinquency rate.

Overall mortgage application activity rose a slight 0.9% in the week ending July 20 as higher refinancing activity more than offset a decline in purchase activity.

A federal judge on July 22 rejected a motion by two former Washington Mutual Bank (WaMu) units to escape a class action lawsuit.

Amherst Securities Group (ASG) analysts reiterated their stance on HAMP 2.0’s implementation. They gave a warning about the potential abuse among borrowers with rental properties.

The Consumer Financial Protection Bureau (CFPB) is working on a qualified mortgage rule that will allow the mortgage market to meet the needs of borrowers “throughout the credit cycle,” agency chief Richard Cordray said in new testimony Tuesday morning.

It would appear that the HARP 2.0 program is hot.

At least two bidders remain for the $30.8 billion of Freddie Mac mortgage servicing rights once owned by the now defunct Taylor, Bean & Whitaker (TBW), Ocala, Fla., according to investment bankers familiar with the sale process.