RMBS

A new avenue of attack may be opening up for investors seeking to force big banks to buy back billions of dollars in mortgages: drag the trustees into the fight.

A report from the National Association of Home Builders (NAHB) found that a decrease in loan limits for Fannie Mae, Freddie Mac and the Federal Housing Administration set to take effect on Oct. 1 would have a negative impact for the housing market.

Freddie Mac's issuance of MBS declined in May for the fifth consecutive month to a 27-month low as refinancing activity continues to wane.

New home sales fell 2% in May after a 6% increase in April as sales continue to be stuck in a low range.

Potential issuers of private-label securities are considering a structure that will require the primary servicer to hand over newly delinquent home mortgages to a special servicer, according to a credit rating agency official.

The House Financial Services Committee has approved legislation aimed to support the growth of the U.S. covered bond market with wide bipartisan support. The bill, named H.R. 940 The United States Covered Bond Act of 2011, passed by a vote of 45-7-3.

The 30-year fixed mortgage rates held steady at 4.50% for the week ending June 23, according to Freddie Mac's weekly report. However, points increased to a 0.8 average from 0.7 previously. As a result, the no-point rate increased slightly to 4.70% from 4.68%.

As one dramatic chapter in Regions Financial Corp.’s history ends, another is about to begin.

The American Securitization Forum (ASF) expressed strong support for the new legislation designed to promote the issuance of covered bonds in a letter sent to Congress today.

A coalition of 44 industry, consumer, community development and civil rights groups have banded together to oppose a regulatory proposal on risk retention that they claim would increase the cost of mortgage credit for average Americans and goes beyond the intent of Congress.