RMBS

The New York Supreme Court late Monday denied Countrywide and Bank of America’s motion to consolidate various claims against them made by four bond insurers led by MBIA Insurance Corp.

Galton Capital Management, the residential mortgage credit investment unit for Mariner Investment Group, appointed Tim Lynch as head of servicing oversight.

Securitization pros have had to constantly come up with new deal structures to respond to challenges posed by the ongoing financial crisis.

Key elements of recent policy initiatives, such as the revised HARP program and the Fed's "Twist," have focused on either pushing down fixed mortgage rates or taking advantage of their current low levels. In addition to the Fed's actions, many observers have placed a devotional faith in the Fed's ability, as Lawrence Summers wrote in a recent op-ed piece in the Washington Post, to "...support demand and the housing market by again expanding purchases of mortgage-backed securities." However, an underappreciated threat to the mortgage and housing markets is the reliance of many American borrowers on low Libor rates. This means that the Fed and other policymakers must be aware of the vulnerability of the U.S. housing markets to rate spikes resulting from upheavals in the European financial system.

The PrimeX indices experienced a sharp dip in October that drew a lot of attention.

With most banks still flush with deposits and reluctant to lend, the need for advances from the Federal Home Loan Banks continued to drop sharply during the third quarter, according to a report released Friday by the Office of Finance.

MountainView Servicing Group said it has completed the sale of a $442 million package of Fannie Mae bulk servicing rights.

Fannie Mae Monday morning confirmed to ASR sister publication National Mortgage News that its multifamily unit is the subject of an Inspector General probe being conducted by the Federal Housing Finance Agency (FHFA).

Obvion issued a €744.3 million ($1.3 billion) Dutch RMBS dubbed STORM 2011-IV B.V.

MF Global filed for Chapter 11 protection today, less than a week after being downgraded to junk status.