RMBS

Gibbs & Bruns in a release said today that its clients have issued instructions to trustees US Bank and HSBC to open investigations of ineligible mortgages in pools backing more than $19 billion worth of RMBS issued by different Wells Fargo affiliates.

While all eyes were on the recess appointment of its first director Wednesday, the Consumer Financial Protection Bureau (CFPB) quietly released guidance that directs supervised banks to turn over any and all information it requests.

Now that a 10 basis point hike in GSE guarantee fees has been carved into law, mortgage rates could rise by as much as 25 basis points, according to calculations done by Lenders One, a national cooperative of mortgage funders.

Banco BPI launched a fixed price tender offer for ten bonds across three Portuguese RMBS transactions.

Freddie Mac reported 30-year fixed mortgage rates eased back to 3.91% with an average 0.8 point in the week ending Jan. 5. This is from 3.95% and matches the record low set in the week ending Dec. 22.

Federal Reserve chairman Ben Bernanke is pressuring the Federal Housing Finance Agency (FHFA) to take additional steps to make the newly implemented Home Affordable Refinancing Program (HARP) 2.0 program more accessible for homeowners with GSE loans.

The American Securitization Forum (ASF) announced today that John Walsh, acting comptroller of the currency, will give a keynote speech at ASF 2012.

Two more Standard & Poor's executives whose respective roles have included oversight of MBS ratings are leaving the company, possibly as part of an ongoing reorganization, according to a recent Wall Street Journal report.

The White House Wednesday morning signaled its intention to make former Ohio Attorney General Richard Cordray the first director of the Consumer Financial Protection Bureau (CFPB)through a recess appointment.

Jerome Selitto has resigned as president and chief executive of PHH Corp., Mt. Laurel, N.J., and has been replaced by the company's chief operating officer Glen Messina.