RMBS

The Federal Housing Administration (FHA) has revamped a little used program for refinancing underwater conventional loans, and extended its "short refinance" program until the end of 2014.

Amherst Securities Group (ASG) analysts, in a report released today, said that servicers are charging considerably higher rates to borrowers on Home Affordable Refinance Program (HARP) loans.

The American Securitization Forum (ASF) today submitted a letter urging regulators to delay the Volcker Rule's implementation.

Mortgage application activity declined 7.4% in the week ending March 16 as mortgage rates rose in response to the Federal Open Market Committee's more upbeat assessment of the economy. This muddies the odds that further quantitative easing will be required.

Moody’s Investors Service is proposing changes to ratings and rating methodologies for public finance bonds secured by mortgages guaranteed or insured by third parties such as states, the federal government, or government sponsored entities.

The increase in U.K. covered bonds shows a return of investor demand driven by an appetite for non-Euro denominated bonds, Bank of America Merrill Lynch analysts said.

Delton de Armas, previously CFO of Taylor, Bean & Whitaker (TBW), pleaded guilty today to making false statements and conspiring to commit bank and wire fraud.

Wells Fargo is already contacting borrowers who might be eligible for a principal reduction as required under the $25 billion robo-signing settlement with state and federal law enforcement agencies.

The consumer default rate on first mortgages declined by six basis points in February from January and by 43 basis points when compared with February 2011, the S&P/Experian Consumer Credit Default Indices showed.

The Federal Housing Finance Agency (FHFA) had sharp words early this week for state and local governments that have passed laws meant to help homeowners facing risk of foreclosure.