RMBS

This thought came up while looking at Mortgage Bankers Association (MBA) CEO David Stevens’ proposal, unveiled at the MBA’s National Secondary Market Conference in New York, to combine Freddie Mac and Fannie Mae’s mortgage bonds into a single security.

Freddie Mac reported new lows in 30- and 15-year fixed mortgage rates in the week ending May 17.

The Federal Reserve Bank of New York has postponed the sale scheduled for today from its Maiden Lane III portfolio.

Spanish securitizations may have proven more resilient than originally expected during the Eurozone crisis.

Mortgage delinquencies continued on their downward path in the first quarter with 7.4% of all loans considered past due, the lowest reading since the third quarter of 2008, according to new figures compiled by the Mortgage Bankers Association.

Two New York Senate Committee chairmen have raised the possibility of investigating bond insurer MBIA’s behavior in applying for a transformation of the company in 2008 and 2009.

When Residential Capital Corp. filed for bankruptcy protection earlier this week it left behind a trail of unsecured creditors with claims totaling well over $1 billion, according to court documents.

Federal Deposit Insurance Corp. (FDIC) General Counsel Michael Krimminger will be leaving the agency later this month to join the law firm of Cleary Gottlieb Steen & Hamilton as a partner in its Washington, D.C., office.

The Mortgage Bankers Association (MBA) reported a 13% surge in the Refinance Index to ~4220 from 3735 for the week ending May 1, while refinancing share as a percent of total applications rose to 74.9% from 72.1%.

Moody's Investors Service today commented on how it evaluates the effect of global and bank credit deterioration in Europe on structured finance securities.