RMBS

Merscorp Holdings will provide the state of Delaware's Department of Justice Consumer Protection Unit a semi-annual report detailing results of its internal audits, according to the terms of a settlement agreement that resolves the state attorney general's October 2011 lawsuit against the private loan registry.

The June prepayment reports were released late July 6 with speeds faster than expected on 3.5s and 4.0s as the underlying credit-eligible borrowers responded to the successive record lows in mortgage rates that began in early May. At the same time, they were slower than expected in the higher Home Affordable Refinance Progam or HARP-eligible coupons.

Impac Mortgage, Irvine, Calif., is entering the reverse mortgage lending business on a retail basis in the Southwest with plans to expand it later on, said company president Bill Ashmore.

A recent Fannie Mae multifamily DUS REMIC that had two additional types of tranches not normally included in past deals brought in a slightly higher percentage of new investors than usual.

The American Securitization Forum (ASF) wrote a letter to the San Bernardino County Board of Supervisors that stated that the proposed plan to use eminent domain to seize residential mortgages would be “poor public policy and unconstitutional.”

Two Harbors Investment Corp. plans to offer 35,000,000 shares of its common stock in an underwritten public offering to buy more RMBS. The sale is subject to market and other conditions.

Wells Fargo Bank on Thursday agreed to pay $175 million to settle allegations by the Department of Justice (DOJ) that it targeted black and Hispanic neighborhoods in cities such as Baltimore and Chicago and steered those borrowers into high-cost subprime loans.

The Federal Reserve Bank of New York is planning on selling more assets from 20 CDOs forming part of its Maiden Lane III (ML III) portfolio. Offering circulars were released today.

Although “sloppier” Alt-A fixed-rate bonds are attractively priced versus their prime counterparts, Amherst Securities Group (ASG) analysts said in a recent report that the collateral is converging.