RMBS

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.

Different Walnut Place entities that formed part of the Article 77 proceedings to ratify the Countrywide settlement have withdrawn as intervenors, Barclays Capital analysts noted in a report released this afternoon. Analysts cited a letter filed today with The New York State Supreme Court.

The government-sponsored enterprises have implemented consistent guidelines for short sale procedures and those efforts are expected to expand to include additional loss mitigation efforts.

Correspondent One, which aims to be a major buyer of closed mortgages from nonbank lenders and others, has launched and is now in the process of closing some of its first transactions, according to vendors and consultants that work with the firm.

Today Freddie Mac said it is offering its tenth offering of multifamily MBS called structured passthrough certificates or K certificates.

First Horizon National in Memphis said Friday that it lost close to $125 million in the second quarter after it bought back scores of soured mortgage loans from Fannie Mae and Freddie Mac.