RMBS

For years, Sen. Richard Durbin, D-Ill., and consumer advocates tried to enact legislation that would allow judges to reduce mortgage principal in bankruptcy proceedings, only to be repeatedly defeated by the banking industry.

Mortgage application activity increased 15.5% in the week ending March 4 with gains in both refinancing and purchase activity.

Research findings are adding up to fears that the Federal Housing Administration’s (FHA) sharp loan volume increase of recent years is moving the agency “into uncharted, risky territory” making it more crucial than ever for policy makers to come up with “a delicate balancing act” that would ensure the FHA “is not pushed too far.”

Moody’s Analytics just released Mortgage Portfolio Analyzer (MPA), a new risk management and capital allocation tool that assists retail portfolio managers analyze and manage their mortgage portfolios's credit risk.

Federal regulators are working toward a very narrow definition of “qualified residential mortgage” (QRM) that would force securitizers of high-quality loans to retain 5% of the credit risk.

Assured Guaranty announced today that chief operating officer Séan W. McCarthy will be leaving the company at the end of the month to “pursue other opportunities.”

Janney further expanded its fixed-income team by hiring Robbie Goffin as managing director.

Roughly 23.1% of all residential homes encumbered with mortgages (11.1 million units) were in a negative equity position at yearend, according to new figures released by CoreLogic (CL), Santa Ana, Calif.

Of the Dodd-Frank Act's sundry requirements, few have caused as much consternation among bank regulators as the mandate to evaluate capital without the help of credit ratings.

Redwood Trust officials have been hearing plenty of talk about other firms entering the Jumbo MBS space — but aren’t holding their breath about seeing new bonds issued anytime soon.