RMBS

Industry efforts to pass legislation that would exclude originator compensation from the statutory points and fees test in the qualified mortgage rule are off to a slow start on Capitol Hill.

Ally Financial, in a new public filing, finally admitted that it is weighing bankruptcy protection for its struggling residential mortgage division, which is facing potential additional losses of up to $4 billion.

Recently National Australia Bank (NAB) had priced a $1 billion RMBS for Member Equity Bank that was sold to global investors, which include money market investors, and domestic buysiders.

Western Asset Mortgage Capital Corp. today announced its plans for an IPO of 8,000,000 shares of its common stock.

National Credit Union Administration (NCUA)is preparing to ease the reins on the use of financial derivatives and allow more credit unions to deal in a variety of instruments that would help them hedge interest rate risk, including interest rate swaps, caps, floors, options and collars.

Housing industry groups are pressing the Consumer Financial Protection Bureau (CFPB) to craft a qualified mortgage rule that shields lenders from meritless litigation and ensures access to affordable and sustainable mortgages.

The Federal Housing Finance Agency (FHFA) has indefinitely delayed its timeline for a highly anticipated decision on whether to allow principal reductions on loans owned by Fannie Mae and Freddie Mac, an agency spokeswoman said Friday.

On April 20 a judge decided that a case seeking to reverse bond insurer MBIA's 2009 transformation into two companies will go to trial on May 14.

The events that affected trading this week revolved primarily around $99 billion in Treasury supply. The Federal Open Market Committee (FOMC) held a two-day meeting with the statement, summary of economic projections and a press conference taking up most of Wednesday afternoon.