RMBS

The Financial Industry Regulatory Authority (FINRA) has fined Credit Suisse $4.5 million and Merrill Lynch $3 million for misrepresenting delinquency data and inadequate supervision with regards to their RMBS issuance.

Regulators plan to reshape the GSEs by slowly pricing them out of the market, according to a report from Deutsche Bank Securities.

Principia Partners released the latest version of its structured finance platform called Principia SFP.

The U.S. Treasury sold a portion of its AIG shares, in a move that reduces the government's holding by 20%.

Freddie Mac's MBS issuance fell 5% in April following a 38% drop in March, according to a monthly activity report the GSE issued Wednesday morning.

Retail originations by commercial banks and savings institutions fell 30% in the first quarter, on a sequential basis, according to new figures compiled by the Federal Deposit Insurance Corp. (FDIC).

Mortgage application activity rose 1.1% in the week ending May 20 even as mortgage rates eased back from their recent lows.

For weeks, Republicans have said their objections to the Consumer Financial Protection Bureau (CFPB) are substantive, and not based on worries about the agency's de facto leader, Elizabeth Warren. But at a House hearing Tuesday, GOP members launched a series of personal attacks on Warren, suggesting she was lying and sometimes interrupting her responses.

A new TransUnion report showed that consumers who only defaulted on their mortgage in the economic recession were far better risks versus those who went delinquent on multiple credit lines such as auto and credit card loans.

In the big picture, while investors counting on muted prepayments today are perhaps not completely ignoring falling rates, they do appear to be less worried about them than government policies.