RMBS

The nearly 900,000 borrowers who already refinanced through the Home Affordable Refinance Program (HARP) will not get another chance to lower their mortgage rates under the White House's newly revised initiative.

U.S. house prices dropped 0.1% on a seasonally adjusted basis from July to August, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index.

In a just-released report, Fitch Ratings said that one-in-three rating proposals for new structured finance transactions need considerable changes before these offerings can be rated.

A revised plan to help underwater borrowers refinance into historically low interest rates is likely to boost competition among mortgage lenders and roughly double the number of people already helped by the government program, according to analysts and industry representatives.

Rep. Scott Garrett, a New Jersey Republican who chairs the House subcommittee with jurisdiction over Fannie Mae and Freddie Mac, plans to unveil a comprehensive bill to reform the secondary mortgage market on Thursday.

Ocwen Financial Corp. late Monday disclosed that it will buy Saxon Mortgage for almost $60 million in cash, a deal that will push its subprime servicing-related contracts to almost $110 billion.

Bank of America Corp. reshuffled top retail bank executives yet again this week, according to an internal memo obtained by ASR sister publication American Banker.

Moody's Investors Service's released its National CPPI index for August, which showed a 2.4% monthly rise in commercial real estate (CRE) prices.

MBS analysts have released their initial analysis on the impact of the changes to the Home Affordable Refinance Program (HARP) on MBS market.

More homeowners will now be eligible to refinance their homes and tap historic low interest rates due to significant changes to a critical government program by the Federal Housing Finance Agency (FHFA).