RMBS

The National Credit Union Administration (NCUA) is expected to hit the Street Thursday with an offering of $1.5 billion of NCUA Guaranteed Notes being used to finance the corporate credit union bailout, the first offering in three weeks.

The Consumer Financial Protection Bureau (CFPB) is going to allocate half its budget to supervision and enforcement of consumer protection laws with a strong emphasis on non-bank lenders. "We can't enforce the law only against banks that are the easiest to find," said Elizabeth Warren, the leader of Treasury Department's CFPB implementation team. "Instead, we will build a strong enforcement arm that will for the first time ever put significant federal resources behind ensuring compliance by non-bank financial companies."

The Federal Deposit Insurance Corp. (FDIC) said Tuesday it plans to consider the risk retention proposal at its next meeting on March 29.

Realpoint has launched an operational risk assessment practice that will be headed by Michael Gutierrez, formerly managing director and head of servicer evaluations at Standard & Poor's.

A question posed by Sen. David Vitter last week has sparked fears among investors about what exactly two top administration officials meant when they responded to whether the GSEs would be exempted from pending risk-retention requirements.

Mortgage bankers originated $16.8 billion of Federal Housing Administration (FHA)-backed loans in February, a 27% decline from the prior month, and a sign that the spring home buying season may not be off to a rosy start.

Pacific Investment Management Co. (PIMCO) raised more than its targeted $1.5 billion to buy assets from banks looking to strengthen their balance sheets, according to a Bloomberg report.

When it comes to Fannie Mae/Freddie Mac’s future and the administration’s options for this, the Securities Industry and Financial Markets Association (SIFMA) last week was pushing for a guaranty that could be priced in a manner similar to what is seen in the derivatives market.

The Federal Deposit Insurance Corp. (FDIC) adopted a notice of proposed rulemaking (NPR) to reduce credit risk to otherwise vulnerable securitizations, such as auto loan deals.

The dollar amount of second lien mortgage debt continued to fall in the fourth quarter with roughly $620 billion in loans outstanding nationwide, a 9% decline over the past 12 months, according to survey figures compiled by ASR sister publication National Mortgage News.