RMBS

Bank of America Corp. has agreed to pay $315 million to settle claims that its Merrill Lynch unit made false and misleading statements about the quality of subprime MBS it sold to investors.

Bank of America Corp. is expected to clear a legal hurdle that tripped up Citigroup last week and has propelled it toward a risky day in court.

European ABS issuance sold to investors should at most grow only modestly next year, Standard & Poor's said.

The Federal Housing Finance Agency this week hired Manoj K. Singh as principal examiner for risk, in charge of Fannie Mae and Freddie Mac.

Ginnie Mae has warned seven of its MBS issuers during the first nine months of 2011 that they are in violation of agency's rules, according to an audit by the General Accountability Office (GAO). The identities of the seven were not revealed.

Ballard Spahr has created a mortgage banking group and hired a team of four attorneys who are at the forefront of evolving regulatory developments.

PNC Financial Services is taking a look at parts of MetLife Mortgage, according to industry advisors familiar with the situation.

Navigating the non-agency RMBS market is not an easy task given that the market has seen little primary activity in 2011 and lots of volatility on housing stats.

A sell-off this week was boosted by a risk-on mentality based on more optimistic expectations regarding the European Union and stronger-than-expected economic data.

GMAC Mortgage on Friday said it will no longer purchase loans originated by mortgage correspondents or brokers in Massachusetts, citing the regulatory environment in the state.