RMBS

A federal judge rejected an attempt by the Securities and Exchange Commission (SEC) to compel Wells Fargo & Co. to comply with an administrative subpoena, ordering the agency and the bank to meet to resolve their dispute over documents related to the agency's investigation of nearly $60 billion of RMBS.

Former head of securitized products research at Credit Suisse Dale Westhoff will be shifting his responsibilities at the firm.

The enhancement levels for the new Credit Suisse prime RMBS deal called CSFB Mortgage Securities 2012-CIM1 are not enough to support a triple-A rating, Fitch Ratings said today.

Investors ramped up their purchases of single-family homes last year to a level not seen since 2007 — and only half of those buyers financed the purchase. Almost half (49%) paid cash, according to a new report from the National Association of Realtors (NAR).

Banc of Manhattan Capital, Woodland Hills, Calif., is taking bids on a $26 million pool of reperforming whole loans, servicing released.

Residential servicers completed 65,000 foreclosures in February, an 8% decline from the prior month and just about flat from the same period a year ago, according to new figures compiled by CoreLogic, Santa Ana, Calif.The firm said roughly 1.4 million homes -- 3.4% of all units encumbered by a mortgage — were in the foreclosure during the month, compared to 1.5 million in January.

Freddie Mac reported 30-year fixed mortgage rates averaged 3.99% with an average 0.7 point in the week ending March 29 compared to 4.08% with an average 0.8 point last week.Despite the improvement, refinancing activity outside of Home Affordable Refinance Program-related is not likely to be too motivated as the no point rate at 4.18% is still outside the incentive window for many of the borrowers underlying 3.5% and 4.0% coupons.

Federal regulators ought to start over on the Volcker Rule, and get back to basics.

The Federal Housing Finance Agency (FHFA) will decide sometime in April whether the higher incentive fees the Treasury Department is paying are enough to justify allowing Fannie Mae and Freddie Mac to do principal reductions for the first time.

The House Financial Services Committee Tuesday approved a bill to enhance the FHA's authority to police bad lenders after rejecting an amendment that would have reduced the agency's loan guarantees.