RMBS

Greek banks and RMBS transactions are at risk of losing interest payments because a Greek housing agency has delayed, if not frozen, paying interest subsidies, according to Fitch Ratings.

JPMorgan Chase late last week rebutted federal claims that it misled four now defunct corporate credit unions into buying $1.5 billion of risky MBS and pointed the finger — as National Credit Union Administration's (NCUA) own internal reviews have — at the management of the failed corporates and at NCUA's own examiners.

Bank of America, which has vowed to reduce its overall risk in mortgages, is close to completing the sale of a $50 billion package of Freddie Mac mortgage servicing rights, according to advisors close to the deal.

Rep. Scott Garrett unveiled a reform plan on Thursday designed to draw the private sector back to the secondary-mortgage market after troubled Fannie Mae and Freddie Mac are eventually terminated.

ABN Amro has set up a new securitization vehicle that largely mirrors the bank's existing Dolphin Master Trust.

Both the chief executive officer and the chairman of the board of Freddie Mac are stepping down within the next few months, the Federal Housing Finance Agency (FHFA) said late Wednesday.

Freddie Mac reported mortgage rates held fairly steady in the week ending Oct. 27. The 30-year fixed mortgage rate averaged 4.10% with an average 0.8 point, down one basis point from last week, while 15-year fixed rates were unchanged at 4.38%.

U.K. banking group Lloyds priced its latest transaction from its Permanent U.K. prime RMBS master trust.

Greenlight Financial Services, Irvine, Calif., will enter the wholesale channel and hopes to fund its first loan some time early next year.