RMBS

Fannie Mae has apparently doled out part of a large subservicing contract on Bank of America MSRs to the residential servicing division of International Business Machines (IBM), according to industry advisors who have been briefed on the deal.

Some of the nation’s top banks including Bank of America and JPMorgan Chase – which also rank first and third, respectively in terms of housing receivables – flunked Fannie Mae's latest test of mortgage servicers, but the GSE isn’t exactly saying that.

Foreclosure activity increased 7% in August over the prior month – but was down 33% compared to the same month a year ago, according to new figures compiled by RealtyTrac.

Bill Beckmann begins each week with a flight from his home in St. Louis to Washington, D.C. The weekly flights have become a routine of sorts since he took on a job that of late, has become among the most daunting among executive jobs in the mortgage industry, president and chief executive of Merscorp.

Reducing the backlog of foreclosures and speeding up the foreclosure process is crucial to reviving the economy, housing experts testified before a Senate panel hearing on Wednesday.

The number of properties underwater declined slightly in the second quarter, according to a new report released by CoreLogic.

The once red-hot mortgage REIT sector is in for a cold dose of reality — which could spill over to the already-cool housing market.

The 30-year fixed mortgage rates set a new record low of 4.09% with a 0.7 point that equates to 4.265%, according to Freddie Mac's weekly survey. This is down three basis points from last week's record low of 4.12%.

Now that the Federal Housing Finance Agency (FHFA) has sued the pants off of 17 issuers of nonprime MBS, the big question boils down to this: How much will the agency actually collect?