RMBS

Sales of moth-balled, private-label MBS by the Federal Reserve had little impact on market prices, according to the minutes of the Fed's monetary policy committee.

The Securities and Exchange Commission (SEC) voted unanimously to propose new rules and amendments for increasing credit rating transparency and improving their integrity.

Two Harbors Investment Corp. said it is closing on a warehouse facility in partnership with Barclays Bank to aggregate loans for issuance into new Jumbo RMBS, making it the second REIT in this space since the downturn.

Refinancing activity responded to a further decline in mortgage rates, said the Mortgage Bankers Association (MBA). The Refinance Index jumping 13.2% to ~2568 in the week ending May 13.

As home prices fall again and regulatory reforms take hold, long-simmering tensions between mortgage lenders and appraisers are flaring up anew.

CoreLogic said one of the main reasons why the real estate industry and finance markets continue to have problems is negative equity for a borrower.

KeyBanc Capital Markets' (KBCM) recently hired Joseph McHale as managing director to its MBS sales and trading group, as reported on May 12 by StructuredFinanceNews.com (see link).

Any hope of a housing market recovery next year may be dashed, if state attorneys general and the major mortgage servicers can't reach a settlement by August, according to economists at Wells Fargo.

Syncora Guarantee reported positive net income for the first quarter but said it faces liquidity problems that threaten its future long-term obligations.

Robert Mills, chief financial officer of Assured Guaranty, will become chief operating officer, effective June 1. He will fill the role that has been vacant since March 31, when Séan McCarthy resigned.