RMBS

Four federal regulators on Friday announced they would give commenters an additional month to weigh in on sweeping restrictions to banks' proprietary trading vehicles.

Fitch Ratings this week downgraded its servicer rating on Ocwen Financial Corp., Atlanta, questioning its rapid expansion in servicing contracts and voicing doubts about its heavy use of offshore workers.

Add the name of EverBank Financial to the list of bidders that have been kicking the tires at MetLife Home Loans, Irving, Texas.

Five industry trade groups have sent a new letter to Federal Housing Finance Agency (FHFA) director Edward DeMarco, telling him – more or less – that they believe the 'fee for service' (FFS) concept would be a disaster for both the industry and consumers.

The Financial Industry Regulatory Authority (FINRA) yesterday said it has fined Barclays Capital $3 million for misrepresenting delinquency data and inadequate supervision on the issuance of subprime RMBS.

Mortgage rates continue to fall even lower. Freddie Mac reported its recent weekly survey shows the average 30-year fixed-rate mortgage fell to 3.91%, the lowest point in four decades and the sixth time a new low has been reached during 2011.

Consumers soon will be paying more for government-backed mortgages now that the House and Senate have reached a deal to extend a payroll tax break for two months.The bill (H.R. 3630) pays for the payroll measure by hiking guarantee fees on Fannie Mae and Freddie Mac loans by 10 basis points. Lenders will pay the extra points but, more than likely, will past the cost onto borrowers.

Housing production in California was up in November for the fourth consecutive month. But builders in the Golden State are still on track to start the third lowest number of units on record in 2011.

Freddie Mac said Thursday that the average weekly rate for a 30-year mortgage has inched down to another record low.