RMBS

Global financial firms are in danger of drowning in the ocean of uncertainty that floats between the rhetoric of the G-20 and the reality of international regulation.

A new U.K. RMBS was announced this week. The deal, which will be rated by Moody's Investors Service and Fitch Ratings, securitizes a pool of prime residential owner-occupied mortgages originated in the U.K. by Principality Building Society (PBS). This is the first residential owner-occupied passthrough RMBS transaction from PBS.

The raising of the debt ceiling helped rein in widening on the agency MBS front this week.

Home prices increased by just under 1% in June from the prior month, marking the third consecutive monthly increase, according to new figures compiled by CoreLogic, Santa Ana, Calif.

Mortgage applications rose 7.1% in the week ending July 29 with both purchase and refinancing activity higher.

Federal officials should go easy on overriding state sovereignty by changing foreclosure laws without a legislative mandate, former U.S. Department of Urban Development (HUD) general counsel Robert Couch told a Senate panel on Tuesday.

A recent federal appeals court decision is likely to cause the delay of dozens of pending Dodd-Frank Act regulations.

The Senate nomination hearing for Richard Cordray, who's tabbed to become the first director of the Consumer Financial Protection Bureau (CFPB), has been postponed until Sept. 6.

Walker & Dunlop named Michelle Warner and Edward Williams as co-heads of its FHA finance division. They will be responsible for all aspects of the Federal Housing Adminstration (FHA) finance program.

The Mortgage Bankers Association (MBA) fears that when the Federal Housing Finance Agency (FHFA) finally unveils its servicing fee structure proposal it will contain just one compensation model, and is appealing to the agency to include more.