RMBS

Michael Wade will be leaving Credit Suisse. Wade was hired by Credit Suisse from Barclays Capital about a year ago as a managing director and co-head of asset finance in the global markets solutions group along with Tricia Hazelwood.

Home equity loans were part and parcel of the mortgage bubble, and the bust has transformed them into one of the mostsignificant loose ends in a crisis that still appears far from resolution.

The Securities and Exchange Commission (SEC) today voted unanimously to propose amendments that would remove references to credit ratings in several rules under the Exchange Act.

Mortgage rates declined for the second week in a row and are near or at record lows for 2011.

Fannie Mae reported a 4.2% increase in MBS issuance for March while the other GSEs — Freddie Mac and Ginnie Mae — registered month-over-month declines.

Fitch Ratings has downgraded 439 bonds in 244 RMBS transactions to "Dsf." The rating agency explained that the downgraded bonds have all incurred a principal write-down.

The National Credit Union Administration is in the market with NCUA Guaranteed Notes Trust 2011-R6.

CMG Mortgage has hired Todd Hempstead, a Fannie Mae veteran of 25 years, to work with private investors interested in buying and securitizing conforming and Jumbo mortgages.

Mortgage application activity dropped 5.6% in the week ending April 22 despite a decline in mortgage rates, according to the Mortgage Bankers Association (MBA). However, the number was not adjusted for the Good Friday holiday.

When global regulators last year announced final international capital and liquidity standards, bankers for the first time in months breathed a sigh of relief, appearing even to welcome the agreement.