RMBS

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.

Lennar Corp. is proposing to sell $300 million in debt, and possible uses of the proceeds include purchasing distressed portfolios of mortgage loans and foreclosed real estate.

The ongoing foreclosure crisis is "not even halfway" over, according to a new Center for Responsible Lending (CRL) study that looked at mortgages originated between 2004 and 2008.

The Office of the Comptroller of the Currency (OCC) issued a report today regarding 12 mortgage servicers' compliance with consent orders issued last April 2011. These orders were meant to correct deficient and unsound foreclosure practices.