RMBS

When the new Home Affordable Modification Program (HAMP) was gaining some momentum in the fall of 2009, it became evident that servicers were being deluged with applications from struggling homeowners.

U.S. Bankruptcy Court for Massachusetts Judge Melvin Hoffman earlier this week ruled that Deustche Bank did not have the legal right to foreclose on a mortgage that is part of a securitization.

Demand for multifamily loans is pushing the Federal Housing Administration (FHA) into the big leagues with Fannie Mae and Freddie Mac.

Freddie Mac's third "K" multifamily mortgage deal backed by seven-year mortgages has come to market.

Mortgage applications slipped 2.4% in the week ending Aug. 19 with both refinancing and purchase activity lower.

Bank of America as well as the three surviving mortgage insurance holding companies were taking it on the chin from investors even though the Dow Jones Industrial Average was up 199 points at noontime on Tuesday (and over 200 points up earlier in the day).

New home sales came in at an annualized rate of 298,000 units in July, a slight decline from the prior month, and a sign that ultra low mortgage rates are still not moving sales off their Depression levels.

Gleacher & Co., which is exiting the equities business after a strategic review, is concentrating instead on efforts that include a continuing build-out of its conforming/Jumbo origination unit aimed at complementing its fixed income sales and trading platform.

American Home Mortgage Servicing (AHMSI) has filed a lawsuit in District Court in Dallas County against Lender Processing Services (LPS) and its affiliate DocX to recoup millions of dollars in claimed losses.

Springleaf Financial is reportedly prepping a $292 million RMBS backed by subprime loans that were originated in the past few years, according to a Dow Jones report.