RMBS

New York Attorney General Eric Schneiderman today filed a lawsuit against Bank of America, JPMorgan Chase, and Wells Fargo charging that using Mortgage Electronic Registration Systems' (MERS) electronic mortgage registry has resulted in a wide range of deceptive and fraudulent foreclosure filings in New York state and federal courts.

Assured Guaranty has filed a lawsuit against UBS' real estate securities unit over breach of contract claims.

Interactive Mortgage Advisors (IMA) Denver, is selling a $589 million portfolio of residential servicing rights backed by Fannie Mae and Ginnie Mae mortgages.

It appears that possible salary and bonus caps at the GSEs are not hurting the recruiting efforts of at least Fannie Mae.

Risk appetite in the U.S. triparty repo market is slowly returning, according to Fitch Ratings in a report released today.

Cash-out refinancings hit a 26-year low in the fourth quarter as 85% of borrowers maintained the same loan amount or reduced their principal balance after refinancing, according to a new report by Freddie Mac.

The Obama administration is working toward producing a plan to wind down Fannie Mae and Freddie Mac, according to Treasury secretary Timothy Geithner.

Ally Financial just can't escape its troubled mortgage unit, which dragged the company's fourth-quarter results into the red on Thursday.

Fannie Mae did $24 billion of multi-family mortgages last year, of which 98% were put into MBS. The leading Delegated Underwriting and Servicing (DUS) program originator was Wells Fargo Bank.

With Bank of America shedding mortgage servicing rights en masse, and a handful of other megabanks writing down their MSRs because of Basel III, prepayments and other concerns, one might think that the asset must stink to high heaven. Well, think again.