RMBS

The U.S. homeownership rate fell by less than half-a-point in the second quarter to 65.9% as foreclosures accelerated and consumers put off buying homes because of fears about prices and the economy.

Bank of America over the past 10 days tried – and failed – to sell roughly $50 billion of 'legacy' mortgage servicing rights, according to servicing advisors familiar with the auction.

A new report by Amherst Securities Group (ASG) examines how the recent Bank of America settlement has the potential to significantly impact Countrywide securities that comprise the Covered Trusts. Although the market seems to treat these securities in the same way, ASG said that the impact will vary from security to security.

Let's skip ahead to Aug. 3. The debt ceiling hasn't moved an inch and the United States no longer enjoys a coveted triple-A credit rating. Now what?

The Senate Banking Committee will hold a hearing next Thursday on the nomination of Richard Cordray to head the Consumer Financial Protection Bureau (CFPB).

The Office of the Comptroller of the Currency (OCC) received many comment letters strongly criticizing its May 26 preemption proposal. Unfortunately, the OCC largely ignored those criticisms and wrote final rules that blatantly violate the Dodd-Frank Act.

Ocwen Financial Corp. is again helping itself financially by cutting distressed homeowners an unusual break.

Mortgage Electronic Registration Systems (MERS) has added new foreclosure guidelines to its two existing manuals, according to a MERS press release.

An index that gives insight into future home sales rose 2.4% in June after jumping 8.2% in May, a sign that not all consumers are spooked by the housing market.

A Texas investment firm has launched a new fund to invest in subordinated debt and take mezzanine stakes in what it calls “carefully selected” mortgage banking firms.