RMBS

With principal reduction modifications a key component of the preliminary term sheet that was recently released by the State Attorneys General, there has been more attention placed on the success of these loan modification programs and their accompanying moral hazard issues, analysts said.

Regulators and politicians alike believe covered bonds could help fill the void created when and if Fannie Mae and Freddie Mac are dismantled, but right now one of the biggest stumbling blocks to the market moving forward is the Federal Deposit Insurance Corp. (FDIC).

A private securities market set up exclusively for prime mortgages can be developed and attract investors as Fannie Mae and Freddie Mac are phased out, according to three American Enterprise Institute fellows.

Kondaur Capital Corp., Orange, Calif., is the winning bidder on a 1,000 unit nonperforming mortgage portfolio auctioned off by the Department of Housing and Urban Development (HUD).

CoreLogic has introduced IntelliMod, a Web-based application that accelerates loan modifications that automates decisioning and fulfillment for both government and private investor programs.

Mortgage rates eased back from their recent lows as Treasurys sold off beginning late last week. This was after the market experienced a strong flight to safety gains and news broke out on Monday that the Treasury will begin selling its MBS holdings.

During the housing boom Robert Shiller, co-creator of theCase-Shiller Home Price Index, stood out (and endured taunting) for his pessimistic views on the market. Now he's in good company.

Goldman Sachs is among a handful of Wall Street banks negotiating with National Credit Union Administration (NCUA) on potential compensation for toxic MBS the investment banks sold to the five failed corporate credit unions.

The more than $113 billion New York City Pension Funds have been granted right of passage by the Securities and Exchange Commission (SEC) to present a foreclosure request on big bank shareholder ballots.

Four state attorneys general have sent a letter to Iowa AG Tom Miller objecting to provisions of the 27-page proposed settlement with the top five servicers.