RMBS

The macro events surrounding the European Union's (EU) sovereign debt with increased worries about Italy and Spain and the U.S. debt ceiling talks — including downgrade warnings from the rating agencies if an agreement wasn't reached soon — dominated this week's headlines.

Existing home sales rose 7.5% in June from the prior month on a non-seasonally adjusted basis and prices increased for the third consecutive month, according to new figures compiled by RE/MAX.

After the tense moments of her last congressional hearing, Elizabeth Warren surprised critics at her second appearance before the House Committee on Oversight and Government Reform with a carrot of sorts.

Ginnie Mae issuers sold $26.2 billion of MBS into the secondary market in June, up 3% from the previous month, according to new government figures.

Bank of America is exploring the idea of selling roughly $40 billion of mortgage servicing rights tied to Freddie Mac loans, according to servicing officials and investors who have been briefed about the plan.

Apollo Residential Mortgage filed an S-11 yesterday with the Securities and Exchange Commission (SEC) to offer 10 million shares in its IPO.

Ocwen Loan Servicing has updated its servicing advance recovery policies to minimize cash shortfalls on current investment-grade rated, non-agency RMBS.

The bank-owned PNC Mortgage Thursday confirmed that it hired mortgage industry veteran E. Todd Chamberlain as its president and chief operating officer beginning Aug. 8.

Prospect Mortgage, Sherman Oaks, Calif., Wednesday afternoon agreed to pay the Department of Housing and Urban Development (HUD) $3.1 million to settle charges that it created sham affiliated business arrangements as part of a scheme to share in “kickbacks” paid to these joint ventures.

Moody's Investors Service just published a report that gives an update on Irish RMBS performance. The ratings agency is maintaining a negative outlook on Irish RMBS citing expectations of increased delinquencies and defaults in these deals.