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Conventional speed increases on average were in line with expectations. However, speeds on 5% coupons and lower were much faster than projected, while 6s through 7s were slower.
July 8 -
Almost three years to the day of seizing IndyMac Bank, the Federal Deposit Insurance Corp. (FDIC) launched a civil action against its former CEO, saying he "negligently" allowed the thrift to keep making risky loans despite signs of market stress.
July 8 -
Ambac Financial Group, the bankrupt holding company for bond insurer Ambac Assurance Corp., filed a plan of reorganization in bankruptcy court this week, but quickly came under criticism from the Wisconsin regulator in charge of overseeing Ambac Assurance.
July 8 -
The Obama administration announced plans Thursday to give unemployed homeowners struggling to make mortgage payments more time to avoid foreclosure.
July 8 -
Portugal and Greece won't lose access to European Central Bank (ECB) liquidity, said the ECB in separate announcements.
July 7 -
Moody’s Investors Service downgraded Portugal by four notches to 'Ba2' from 'Baa1' with a negative outlook yesterday.
July 7 -
Two separate MBS-related regulatory settlements involving hundreds of millions of dollars restitution to investors were seen late last month and the Securities and Exchange Commission (SEC) indicated similar cases would remain a priority for it in the future.
July 7 -
Moody’s Investors Services has downgraded the servicer quality (SQ) ratings of JPMorgan Chase and Chase Home Finance. The collective ratings in question are as primary servicer of prime residential mortgage loans from ' SQ1 ' to ' SQ2 ’, and as primary servicer of subprime residential mortgage loans from SQ1 to SQ2. Both will remain on review for possible further downgrade.
July 7 -
As federal agencies work on creating a new servicing fee structure, the Mortgage Bankers Association (MBA) is recommending they consider a reserve account that would be used to pay the higher costs of servicing delinquent loans.
July 7 -
FG Solutions International has formed a new ABS trading desk in North America to expand service offerings for investors and traders.
July 7
