RMBS

An ill-fated $300 billion program Congress approved in 2008 to refinance delinquent underwater borrowers into Federal Housing Administration (FHA) loans will expire Sept. 30 – after providing relief to less than 600 borrowers.

Royal Bank of Scotland (RBS) analysts looked at the potential implications of the Bank of America settlement in a report released yesterday.

A new report by Bank of America Merrill Lynch analysts suggested that home price appreciation (HPA) might have actually hit its double-dip bottom in March at -6.1%, earlier than what they had previously predicted in a previous report released a week earlier.

Freddie Mac will begin providing expanded disclosures on a quarterly basis regarding its multifamily loan portfolio and multifamily K Certificate securities effective June 2011.

Bank of America’s pending settlement related to hundreds of billions of dollars worth of Countrywide-issued first-lien RMBS released Wednesday would include not only an $8.5 billion cash payment to trusts involved but also about $400 million of servicing changes and improvements, according to an investor law firm involved.

Ally Financial indicated in a Wednesday Securities and Exchange Commission (SEC) filing that it has received subpoenas from two regulatory entities in June that included requests for documentation related to certain mortgage activities.

At the end of May, the combined number of mortgages 90+ days delinquent and foreclosures totaled 4.08 million, according to a report by Lender Processing Services (LPS).

Bank of America Corp. has reached an $8.5 billion settlement with investors over repurchase demands on $424 billion worth of RMBS.

UCM Partners has launched the UCM MIDAS Fund, with $10 million in assets under management.

Mortgage application activity fell 2.7% in the week ending June 24, even as mortgage rates declined to their lowest level since the middle of November.