RMBS

MBIA's chief executive officer said Wednesday that it is only a matter of time before the troubled bond insurer is reimbursed by financial institutions for its losses related to RMBS that it insured during the housing boom.

President Barack Obama wants banks to step up their efforts to help struggling borrowers stay in their homes by offering principal reductions, extending short-term modifications, and lengthening existing mods.

With federal and state officials still in talks with the top five mortgage servicers over lapses in the foreclosure process, lawmakers from both political parties introduced a bill Thursday that would establish national servicing standards.

Discover Financial Services is buying the assets of Tree.com's mortgage origination subsidiary, Home Loan Center, for $55.9 million.

KeyBanc Capital Markets (KBCM) has expanded its MBS sales and trading group by hiring Joseph McHale as a managing director.

Brazil’s leading mortgage originator Caixa Economica Federal today closed the R$232.8 million senior piece of its largest ever RMBS, said a source close to the transaction. The yield came to 10.5% over the TR, a benchmark savings rate.

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.