RMBS

Wells Fargo Home Mortgage is getting out of the reverse mortgage wholesale production channel, a spokesman confirmed. However, it still will originate these loans through the retail channel.

Federal regulators issued a tough opening salvo in settlement talks with the largest servicers, presenting them with a 27-page term sheet that would force major changes to the industry and step up loan mitigation efforts.

The government's embattled Home Affordable Modification Program (HAMP) lost momentum in January as the number of newly approved loan restructurings fell below 30,000 for the first time since October.

Fitch Ratings is monitoring the potential consequences that the earthquake that hit Christchurch in February might have on outstanding Fitch-rated New Zealand mortgage-backed transactions.

As home lenders fret about a forthcoming regulatory proposal on risk retention, Freddie Mac will soon require a little more skin in the game from their borrowers.

Lawmakers pressed Federal Reserve Board Chairman Ben Bernanke on Wednesday about whether regulators have the legal authority to include servicing standards within a risk-retention rule.

Ally Financial said late Wednesday that the U.S. Treasury will be repaid $2.7 billion from the sale of all the Trust Preferred Securities that the agency holds in the bank holding company and mortgage lender.

Fixed related mortgage rates declined for the third straight week, according to Freddie Mac's weekly survey.

Credit-Based Asset Servicing and Securitization (C-BASS) founders Bruce Williams and Saul Sanders are talking to mortgage banker New Penn Financial in Plymouth Meeting, Pa., about buying the company, according to three sources familiar with the deal.

MBIA still expects to pay more claims as the credit quality of the debt it insures erodes.