RMBS

Freddie Mac reported 30-year fixed rate mortgage rates dropped eight basis points to a new year-to-date low in the week ending May 12 to 4.63% with an average 0.7 point.

As lawmakers take up mortgage servicer standards at a hearing Thursday, the Mortgage Bankers Association (MBA) is advocating a cautious approach to standard-setting while trying to debunk what it says are misconceptions about servicing.

The chief regulator of all GSEs this week told directors of the 12 Federal Home Loan Banks (FHLBs) that they need to keep an eye on the system’s investment portfolios and executive compensation packages.

The Federal Deposit Insurance Corp. (FDIC) has accused Lender Processing Services of Jacksonville, Fla., and CoreLogic of Santa Ana, Calif., of causing $283.5 million of damages to the former Washington Mutual for failing to provide oversight of appraisal.

The RealtyTrac April 2011 Foreclosure Market Report finds the number of foreclosure filings in the month dropped 9% compared to March and 34% from April 2010, largely due to delays in foreclosure processing.

Subprime credit default swap prices swung upward for the sixth straight month in April, making it the longest sustained rally of this type seen since 2007 — and it may continue, according to Fitch Solutions.

Morgan Stanley is once again weighing the sale of its residential servicing operation Saxon Mortgage, according to industry officials familiar with the matter.

Roughly 27% of underwater borrowers think it is acceptable to walk away from their mortgage obligations – double the number of consumers who thought so a year ago, according to a new study from Fannie Mae.

Assured Guaranty reported higher operating earnings than expected in the first quarter due to a large out-of-court settlement.

Janus Capital Group named John Kerschner as head of securitized products for Janus’ fixed-income investment team.