RMBS

The Federal Housing Administration (FHA) in early December will seek bids on a small pool of defaulted single-family loans and plans to conduct additional auctions in April and September of next year.

Government officials are likely to lessen large banks' liabilities over how they handled delinquent Federal Housing Administration (FHA)-insured mortgages as part of a settlement with the largest mortgage servicers, according to people briefed on the negotiations.

Rep. Barney Frank, D-Mass., will announce today that he will not seek re-election next year, capping a 32-year career in Congress, a spokesman said Monday.

Only three months after Mexican GSE Fovissste issued its first cross-border RMBS, the lender's deals are facing ratings trouble.

The folks at law firm Dechert put out their annual golden turkey awards for dubious achievements in the commercial real estate market, a few of which are perfectly applicable to other areas of structured finance.

Application volume fell by 1.2% on a seasonally adjusted basis for the week ended Nov. 18, as purchase apps were up to their highest level since August, but refinancings were down to their lowest point since July, according to the Mortgage Bankers Association.

Only one county in the country–Fairfield, Conn.–will have a higher conforming loan limit in 2012. The ceiling in the other 3,200-plus counties will remain unchanged.

Suncorp Metway is in the market with a A$750million ($725 million) Australian RMBS.

U.S. District Judge Mariana R. Pfaelzer of the Central District of California yesterday certified a class action lawsuit in a case against Countrywide. The suit accuses the mortgage lender of deceptive practices in the sale of MBS.