RMBS

Steve Curry, a six-year veteran of Impac Mortgage Holdings, has left the lender to accept an executive vice president job with ClearVision Funding (CVF), a fast growing wholesaler based in Santa Ana, Calif.

The Joint Forum urged banks to provide more transparency to investors in the securitization industry while also decreasing the complexity of the products offered.

Mortgage application activity fell 5.1% in the holiday-shortened week ending July 8 with both refinancing and purchase activity lower.

The New York Attorney General is investigating the proposed $8.5 billion Bank of America settlement with Bank of New York Mellon Corp. over residential MBS trusts, seeking client information from more than 20 companies including Goldman Sachs, BlackRock, and others.

Subprime CDS prices fell by -1.8% last month, following a seven-month rally that culminated in an overall price rise of 126%, according to a Fitch Solutions report.

A House Financial Services subcommittee late Tuesday approved six bills that would rein in Fannie Mae and Freddie Mac but that fall short of comprehensive changes to the housing finance system.

MBIA Insurance Corp. voluntarily dismissed with prejudice its case against Bank of America Merrill Lynch, prompting analysts to speculate that a settlement could be reached soon.

A House Financial Services subcommittee hearing Wednesday will explore whether recent changes in loan-origination rules will hurt consumers' chances of getting a mortgage.

"Persistent weakness" in the housing market and the downside risk of further price declines is one of the major factors cited by the Federal Reserve's monetary policy committee for the slowdown in the pace of the economic recovery in recent months.

President Obama on Tuesday officially appointed Carol Galante to serve as the new acting commissioner of the Federal Housing Administration (FHA), overseeing the agency's single family and multifamily programs.