RMBS

Just how hungry is Ocwen Financial Corp. for servicing rights? In a new filing with the Securities and Exchange Commission (SEC) the nonbank servicer discloses that it is currently reviewing $300 billion of MSRs for purchase.

The bulk of Italian RMBS could withstand a further sharp deterioration in the economy, Fitch Ratings said in a release today.

The Obama administration on Monday more than doubled to $61 billion a proposed fee it wants the largest U.S. banks to pay for their role in the financial crisis.

If it weren't for a recent legal settlement with Bank of America, the Federal Home Administration's (FHA) mortgage insurance fund would be in the red.

Brazilian Securities, an agency that specializes in securitizing real estate receivables, is currently in the process of selling two mortgage-backed real estate certificates, or CRIs, with a minimum ticket size of R$1,000 ($582), according to a source close to the deal.

The Federal Housing Administration (FHA) will "soon" increase its annual premium on Jumbo mortgages by 25 basis points, according to government budget documents released Monday morning.

For the moment, the job of ensuring that the nation's largest banks comply with the terms of last week's mammoth mortgage settlement falls on just one man.Joseph A. Smith, Jr., North Carolina's banking commissioner, is charged with ensuring that the five biggest mortgage servicers — Bank of America Corp., JPMorgan Chase, Citigroup, Wells Fargo and Ally Financial — implement new servicing standards and take other steps that are required by the settlement.

A mortgage banking firm specializing in U.S. Department of Veterans Affairs (VA) loans is trying to sell $4.5 billion of GNMA-backed mortgage servicing rights through Interactive Mortgage Advisors (IMA), Denver.

Servicers will likely avoid extending modifications as part of the $26 billion AG settlement since they will not be indemnified against investor lawsuits, according to a JPMorgan Securities report.

The mortgage insurance division of Genworth Financial is beginning to see a noticeable pick up in Home Affordable Refinance Program (HARP) refinancing applications, a sign that the '2.0' version of the program may finally be gaining traction.