RMBS

The Depository Trust & Clearing Corp. (DTCC) has appointed Noel Donohoe to the newly created position of executive managing director and group chief risk officer.

The June ABX remittance report showed that while loss severities and delinquency rates are improving, CDRs and modification rates saw a slight increase, as reported by Bank of America Merrill Lynch analysts.

The Consumer Financial Protection Bureau (CFPB) has posted newly revised prototypes of a two-page "Loan Estimate" disclosure on its Web site for a second round of input on the way closing costs are presented.

Small mortgage banking companies got hammered in the first quarter amid falling loan volumes and rising expenses.

A group of mortgage originators, issuers and investors is close to a consensus on a new process for enforcing representations and warranties on private-label securities.

On a day when the stock market soared upwards, the three stand-alone mortgage insurers all saw their stock price drop. This is in apparent reaction to an article that appeared over the weekend in another publication.

The call for loan-level mortgage data sounded soon after the industry began to pick up the pieces from the housing market crash. It's grown louder since then and the information is slowly becoming more available. But without a way to identify and decipher what it means, the data are worthless. Luckily, there is new technology coming to market that provides lenders, investors and servicers the ability to monitor the loans being originated, evaluate their quality and monitor repayment performance.

Stuck between a rock and a hard place, some mortgage lenders are choosing to relax underwriting requirements ever so slightly to offset a dramatic drop in loan origination volumes.

In the first two of what promises to be several legal actions seeking compensation for the corporate credit union crisis, the National Credit Union Administration (NCUA) sued two of the biggest Wall Street banks last week seeking to recover losses from the now-toxic mortgage-backed securities they sold to four of the five failed corporates.

Freddie Mac has entered into a proposed settlement with creditors of the Taylor, Bean & Whitaker Mortgage Corp. (TBW) bankruptcy that will allow the GSE to gain control of TBW-related mortgage servicing rights and $54 million in loan receipts in TBW deposits.