RMBS

Bank of America Corp.'s proposed settlement of MBS claims against its Countrywide unit would force private-label investors in 530 Countrywide trusts to accept the bank's $8.5 billion offer, BofA officials said Wednesday.

The fundamentals for private mortgage insurers were supposed to have improved by now. They haven't.

Lawmakers sided with community banks on Tuesday in expressing concern that a pending risk retention rule and other new regulations will soon drive small institutions from the mortgage business.

The American Bankers Association (ABA) believes the role of the GSEs and FHA in the mortgage market should be gradually reduced so that 60% of home financing comes from the private sector with “no government aid.”

Housing prices rose 0.7% in April, snapping eight straight months of declines, as home values increased in 13 of the 20 cities in the Standard & Poor's/Case-Shiller house price index.

The New York State Court of Appeals reinstated a $5 billion fraudulent conveyance and breach of contract lawsuit brought by bank policyholders against MBIA.

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.