RMBS

Rep. Gary Miller, R-Calif., has drafted a GSE reform bill that would merge Fannie Mae and Freddie Mac and convert them into a secondary market utility that issues government-backed mortgage securities.

Mortgage application activity declined 5.2% for the week ending July 1, according to the Mortgage Bankers Association (MBA).

Mortgage servicers participating in the Home Affordable Modification Program (HAMP) are starting to use principal reduction more often to help underwater borrowers and make their payments more affordable.

A new report by Bank of America Merrill Lynch examines the credit burnout phenomenon and its potential to allow underwater, but not yet delinquent, borrowers to demonstrate their creditworthiness.

American Banker sat down for an extensive exit interview with FDIC Chairman Sheila Bair, who will leave office on July 8. Following is an edited transcript.

With the Dodd-Frank Act and Basel capital regime already imposing new requirements on derivatives players, the U.S. bank regulators added another one Tuesday completely of their own accord.

The Federal Housing Administration (FHA) is considering tightening borrowers' debt-to-income ratios, a move that would prevent the most highly leveraged consumers from qualifying to buy a home.

Brokerage firm Laeken International plans to enhance its fixed-income and structured finance products focus by establishing a structured finance strategy and analytics team.

Bank of America Merrill Lynch analysts in a report released yesterday referred to Markit’s iBoxx European ABS index as a “useful tool” in benchmarking and in comparing ABS to other asset classes.

When Bank of America Corp. announced its MBS settlement last week, the company warned that activist investors would likely fight it. It was right.