RMBS

The first bulk sale of 2,500 Fannie Mae REO properties will sell at a discount to single assets, but has the potential to drive prices up after the first $10 billion to $20 billion in foreclosed homes are sold to institutional investors and converted to rentals, according to the Amherst Securities Group (ASG).

Lenders, for the first time, are facing the possibility of paying "actual damages" as a result of the “qualified mortgage” (QM) definition, an attorney warned attendees at the Mortgage Bankers Association's (MBA) National Secondary Market Conference in New York.

Mortgage originations will fall to their lowest level in five years in 2012, according to the latest forecast by the Mortgage Bankers Association (MBA).

Freddie Mac released the results of its 1Q12 refinance analysis. The study showed that homeowners who refinance are still strengthening their fiscal position.

An executive at Redwood Trust — the only active Jumbo MBS issuer out there — said the firm has been able to expand its business despite challenges, including the government’s continued domination of the market.

The Mortgage Bankers Association is calling for a merger of Fannie Mae and Freddie Mac’s mortgage bonds both as a “first step” in transitioning into a single security. The change would save taxpayers billions and ensure a liquid and stable housing finance system, the group believes.

In 2004, I had the unique distinction of being perhaps the only person in history to have the U.S. Senate place a bounty on his head. I didn't rob a train. My crime was leading a federal investigation into misconduct at Fannie Mae.

PrinceRidge has hired five new directors to its RMBS unit. With these additional hires, the firm's RMBS group has grown to more than 24 people.

Fitch Ratings has appointed John Miles as head of Fitch Australia effective immediately. Based in Sydney, he will be responsible for managing the rating agency's day-to-day business operations in Australia and New Zealand.

The 30-year FNMA prepayments were close to overall expectations of around a 3% slowing in speeds.