RMBS

In a recent presentation to investors Fortress Investment Group estimated that $4 trillion in mortgage servicing rights may change hands over the next few years, but MSR investors and others say that estimate is much too high.

The Federal Reserve Board on Thursday released the last details of how two mortgage servicers — Citigroup and HSBC Finance Corp. — plan to fix problems in their home loan servicing and foreclosure processes.

Key senators signaled guarded optimism Thursday about the chances of finding a bipartisan compromise on mortgage refinancing legislation, though the bill still faces an uphill fight in the House.

Bond insurer MBIA’s chief attorney told a judge Thursday that the process the New York State Insurance Department (NYSID) and MBIA took to split the company was long and public.

American International Group had some of the claims in its $10.5 billion suit against Countrywide Financial Corp. thrown out of court because they were filed too late.

The Federal Reserve Bank of New York said today that Citigroup had won the latest bidding process for another portion of the Maiden Lane III portfolio.

Residential Capital's bankruptcy filing on May 14 is a credit negative for two major bond insurers, Moody’s Investors Service said.

Freddie Mac has released a statement that Bank of America will be repurchasing $330 million loans out of its Freddie pools because of reps and warrants contractual issues.

Commercial lender CIT Group said today it named Neil Wessan a managing director and head of its capital markets group, effective immediately.

Press reports continue to mount over the possible exit of Greece from the eurozone, which can cause Greek RMBS defaults.