RMBS

Don Curtis, vice president of business development for Carrrington Mortgage Services, Santa Ana, Calif., has left the company.

Sterling covered bond volume has been quite high beginning in 2012. Public placement volumes are already more than the levels seen in any previous year, Moody's Investors Service said in a new special comment published today.

The mortgage industry will be saddled with high legal costs if the Consumer Financial Protection Bureau (CFPB) provides a low bar for attorneys to challenge a lender’s adherence to the bureau’s “ability to repay” underwriting standards, according to the Consumer Mortgage Coalition (CMC),which represents some of the nation’s largest banks.

Raj Date, the deputy director of the Consumer Financial Protection Bureau (CFPB), said the agency wants to avoid creating "disincentives" for mortgage lenders and banks as part of the qualified mortgage (QM) rule.Date also assured consumer and civil rights groups that access to credit is a "priority" for the agency and there will be "real consequences" for mortgage lenders that do not properly assess a borrower's ability to repay a loan.

Whole Loan Capital (WLC), New York, is in the market with a $4.8 billion 'flow' servicing deal that will be sourced through a handful of different lenders.

On Friday 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.

This week was one of those rare ones so far this year that had no market roiling headlines, and it made for rather monotonous trading for the most part.

Edward DeMarco, the acting director of the Federal Housing Finance Agency (FHFA), said Thursday he is “deeply concerned” about underwater borrowers, but said that forbearance plans and short sales already serve as forms of principal reduction without saddling taxpayers with further losses.

Fannie Mae guaranteed $7.1 billion of new multifamily MBS during the first quarter, its best issuance volume since the advent of the credit crisis four years ago.