RMBS

Redwood Trust – the nation’s only active securitizer of Jumbo MBS – posted a $3 million loss in the fourth quarter, compared to a profit of $15 million in the year ago period, but is promising to plough ahead in the PLS market.

Fannie Mae late Friday finally had something to say about Bank of America's announcement that it would no longer sell new purchase money loans to the GSE: it hopes to resolve the buyback disputes between the two parties.

Should Ally Financial break itself up, Ocwen Financial Corp. and private-equity shops might be interested in Ally's mortgaging servicing arm, Residential Capital, which has mortgage servicing rights of $1.2 billion on mostly impaired loans, Keefe, Bruyette & Woods (KBW) analysts wrote in a research note last week.

The Federal Home Loan Bank system, which has emerged as a critical CU backstop, has made a pitch to National Credit Union Administration (NCUA) that could tap the movement for tens of billions of dollars in new funds.

Last week the markets got what has been a rare reprieve so far this year, a break from any market-moving headlines.

Twenty-four hours after Bank of America told Fannie Mae to take a hike on secondary market purchases, the realization is starting to sink in that one party — the GSE — may stand to lose a lot more than the seller/servicer.

Ocwen Financial Corp., a major buyer of MSRs the past two years, earned $9.7 million in the fourth quarter, a slight decline from the same period a year earlier.

The acting commissioner of the Federal Housing Administration (FHA) this week blasted news that claim Bank of America Corp. was essentially bailing out the agency's mortgage insurance fund.

Non-agency RMBS outstanding is expected to decrease to less than $1.1 trillion when the Federal Reserve reports fourth quarter 2011 data in March, according to an emailed note from Standard & Poor's this morning.