RMBS

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.

False information provided to a regulating body considering the division of bond insurer MBIA into two parts should invalidate the split, according to the attorney for the banks suing MBIA in a hearing Tuesday.

The Federal Housing Administration (FHA) — which holds title to 700,000 seriously delinquent mortgages — plans to ramp up its single-family nonperforming loan sale efforts, according to housing commissioner Carol Galante.

Fitch Ratings has downgraded GMAC Mortgage's U.S. residential mortgage servicer ratings.

Allonhill, a mortgage due diligence provider that two weeks ago lost a consulting contract with the Office of the Comptroller of the Currency, has given layoff notices to dozens of employees, according to industry consultants who were briefed on the matter.

Auriga USA has boosted its fixed-income U.S. sales and trading operations with various new product lines.