RMBS

Some banks might be skittish about selling nonperforming loans in bulk, but the market clearly likes it when banks shed problems en masse.

An increase in late-stage arrears for prime Dutch RMBS is causing a build-up in potential foreclosure stock. However, a stall in the foreclosure process for these transactions will continue to pressure their collateral performance, according to a Fitch Ratings report.

The Federal Reserve Bank of New York may be looking to resume sales from it Maiden Lane II portfolio, according to several market reports.

Mortgages continued to perform well through the second week of the New Year despite 10-year note yields declining below 1.90% (to 1.857% Friday morning) on continued uneasiness associated with Europe.

JPMorgan Chase suffered a residential repurchase loss of $390 million in the fourth quarter, a 17% increase from the year earlier period, and a sign that Fannie Mae, Freddie Mac and other secondary market investors are not easing up on their buyback demands.

Freddie Mac said it plans to issue a Mortgage-Linked Amortizing Notes security.

Goldman Sachs this week asked a federal court in Los Angeles to dismiss a billion-dollar private label MBS related lawsuit brought against the firm by the National Credit Union Administration.

Redwood Trust, Inc. announced today that Brett Nicholas will take on the role as the mortgage REIT's President. Fred Matera will take over Nicholas' previous role of Chief Investment Officer.

Capital Markets Cooperative, a secondary market specialist, is continuing to look at possible acquisitions, but is in no rush to sign on the dotted line.