RMBS

David Stevens arrived as a commissioner at the Federal Housing Administration (FHA) in 2009 vowing to restore financial discipline to a government housing body facing the stresses of a post-crash world.

The proposed Qualified Residential Mortgage (QRM) rules have a better chance at harming the housing market than they have at addressing underlying weaknesses in the securitization process. They are an overreaction to the excessive risk-taking during the housing boom.

By Richard DeKaser's calculations, it takes just 16.5% of the average consumer's income to make payments on a 30-year mortgage for an average priced home. The last time the ratio was this low was 1968.

The debt ceiling compromise will bring some temporary relief to the securitization market, although the benefits will likely be short-lived.

The 'on-again/off-again' sale process has started once again for Aurora Loan Services (ALS), the Colorado-based mortgage banking division of Aurora Bank FSB, according to industry officials.

Homeowners who originated their mortgages during the peak of the housing boom with unfavorable loan terms are getting more frustrated with their inability to refinance with mortgage servicers, according to the J.D. Power and Associates 2011 U.S. primary mortgage servicer satisfaction study.

Kroll Bond Rating Agency (KBRA) is currently seeking public comment on five publications that were released today regarding its RMBS rating process. This means that the rating agency can now rate residential mortgage-backed deals.

When Democrats used their majorities in the House and Senate last year to pass a financial overhaul largely along partisan lines, top Republicans were clear about what should happen next.

At the recent American Securitization Forum (ASF) Sunset Seminar, panelists looked back at the first year of Dodd-Frank, saying regulators are still missing the bigger picture.

Europe's reenactment of last summer's sovereign debt crisis heated up as talks of a Greek debt default intensified once again this July.