RMBS

A funny thing is happening to the market value of mortgage servicing rights: as this volatile asset class continues to wane in price, there’s now less of it out there in the world—a lot less compared to the peak of two years ago.

Redwood Trust is issuing another RMBS called Sequoia Mortgage Trust 2012-3 (SEMT 2012-3). Moody's Investors Service, Fitch Ratings and Kroll Bond Rating Agency are rating the deal.

The Federal Reserve Bank of New York is selling assets from 11 CDOs forming part of its Maiden Lane III (ML III) portfolio. Offering circulars were released yesterday.

The chief financial officer of the now-defunct Taylor Bean & Whitaker (TBW) will be spending at least five years in prison for concealing the fraudulent activities of the privately held mortgage banking company.

Wells Fargo & Co. ended March with $1.84 trillion of residential servicing contracts on its books, once again ranking first — but barely growing its market share.

The Mortgage Bankers Association (MBA) has formed a select committee to find a replacement to departing president David Stevens with 15 candidates being thrown into the pool, according to officials familiar with the process.

Residential Capital has rejected Warren Buffett’s offer to be the initial bidder in proposed auctions of ResCap assets, Bloomberg News has reported.

A federal court panel said Bank of America can't consolidate multiple lawsuits involving losses suffered from the collapse of Taylor Bean & Whitaker and Colonial Bank in a multibillion-dollar fraud.

A proposal by regulators to revamp the way banks must measure risk on certain assets is alarming many community bankers who argue it will raise capital requirements, increase compliance costs and curb lending.

Dutch house prices are expected to fall by at least another 7% on the back of a deteriorating macro-economic environment, said Fitch Ratings in a report today.