RMBS

The chances that Ambac Assurance Corp. will be able to keep $700 million of disputed tax refunds increased last week when a federal court in Wisconsin again threw out the Internal Revenue Service’s (IRS) case against the bond insurer.

Ginnie Mae's MBS program has experienced unprecedented growth the past two years and now the agency wants to nearly triple its allotment for salaries to $30 million, allowing it to hire additional staff while reducing its dependence on outside contractors.

The National Credit Union Administration (NCUA) has proposed a new investment rule that eliminates the need to obtain top grades from the rating agencies, replacing it instead with the judgment of a credit union's management.

The Federal Deposit Insurance Corp. (FDIC) has sent letters to former executives of the failed Washington Mutual Bank, Seattle, warning of possible legal action, according to a report by Dow Jones, quoting a source familiar with the situation.

Federal prosecutors have ended their criminal investigation of former Countrywide Financial Corp. (CFC) chairman and CEO Angelo Mozilo, after deciding that his actions managing the nation's largest lender did not constitute criminal behavior, according to a report in The Los Angeles Times.

The White House may want to pull the plug on Fannie Mae and Freddie Mac, but it plans on keeping the Federal Home Loan Bank System (FHLB) alive, albeit at reduced capacity.

Redwood Trust has priced its newest publicly placed prime RMBS deal, Sequoia Mortgage Trust 2011-1.

The municipal bond insurance industry would still be thriving today if big banks hadn’t defrauded the insurers.

Jay Hohman is a leaving StormHarbour Partners where he was director with the primary responsibility for the sale of fixed-income products to institutional investors.

In the past few years the market has seen a considerable minority of borrowers who are behind on their 1st mortgage continue to pay their 2nd mortgage, according to Amherst Securities Group (ASG) analysts.