RMBS

The 'qualified mortgage' rule that the Consumer Financial Protection Bureau (CFPB) is working on is expected to limit the kind of mortgages that lenders can make – but may also curb the size of the loans they originate as well.

Bank of America Corp. (BAC) is preparing to sell off hundreds of foreclosed homes in bulk as part of its ongoing effort to clear out its inventory of distressed assets.

Mortgages slightly outperformed through Thursday as investors took advantage of cheapening that occurred in the early part of the week.

JPMorgan Chase reclassified $1.6 billion of mortgages as nonperforming loans at the urging of regulators — even though the loans are still in good shape, executives said Friday.

Charles Plosser, the president of the Federal Reserve Bank of Philadelphia, on Thursday sided with top regulators in saying they were unlikely to complete the Volcker Rule by its summer deadline."It is not clear at all that we will make the July deadline given the complexities," Plosser told reporters following a speech before the National Economist Club.

It's no secret that nontraditional players have been gobbling up mortgage servicing rights on the cheap, shifting the power structure in a business that has rapidly seen its fortunes wane during the nation's housing depression.

Aurelius Capital Master and UBS have withdrawn from suits against bond-insurer MBIA.

A lack of comprehensive planning by the Treasury Department and an inability to enlist servicer participation has stymied a federal program that provided billions in borrower assistance to state housing agencies, according to an inspector general's report.

Residential real estate activity showed “some” improvement in March, but there were few signs of spring for the single-family housing market in the Federal Reserve's Beige Book report released Wednesday afternoon.