RMBS

Bank of America says all those rumors about it exiting the correspondent mortgage channel are just not true.

The American Securitization Forum (ASF) released a statement today applauding the House Financial Services Committee’s approval of legislation aimed at stabilizing the ABS market.

A new report by Lender Processing Services (LPS) reveals that the total U.S. loan delinquency rate climbed 2.4% in June to reach 8.15%, while the foreclosure pre-sale inventory rate also rose by 0.2% to 4.12%.

A short-term default is not expected to have any effect on GNMA MBS cash flows because of their collateralized nature, according to a new Barclays Capital report.

When the Consumer Financial Protection Bureau (CFPB) officially opens its doors Thursday, the new agency will be ready to field complaints about credit cards – but not mortgages or servicing performance.

If the financial industry were made up of nursery rhymes, Wells Fargo & Co. would be Little Jack Horner and Bank of America Corp. would be regarded as Pinocchio.

Elizabeth Warren has spent much of the past year arguing the Consumer Financial Protection Bureau (CFPB) is not as scary as banks think. But as she steps aside, will that really be the case?

Legislation is moving forward that would more definitively exempt rating agencies from a liability that shut down securitized markets at one point last year, according to an industry trade group.

First and second mortgage default rates fell in June to 2.02% and 1.40% respectively, according to the Standard & Poor's /Experian Consumer Credit Default Indices. Last month the two default rates were recorded at 2.09% and 1.42%, respectively.

While in the United States efforts to create more new-issue-rated RMBS are just starting to gain a little more momentum and the latest economic indicators at press time have not exactly been rosy, RMBS Down Under have been doing relatively well.