RMBS

The former treasurer of Taylor, Bean & Whitaker (TBW), Ocala, Fla., pleaded guilty to criminal charges involving her role in selling "fictitious" mortgages to Colonial Bank, contributing to that institution's failure.

Bank regulators, law enforcement and various other federal and state officials continue to negotiate the proper punishment for more than a dozen large servicers that have mistreated mortgage borrowers.

Carrington Capital Management, a former subprime securitization specialist, salvaged an impressive amount of money from its low-ranked RMBS, thanks to the unusual strategies of its servicing affiliate.

New home purchases fell 12.6% in January to start the new year off on the wrong foot, erasing a 15% gain in December sales.

The private market could struggle to meaningfully absorb the capacity GSEs currently provide to the U.S. housing market, said Fitch Ratings in a report today on the housing finance reform proposal.

Financial Services Committee Chairman Spencer Bachus has scheduled a hearing and markup for early March to consider four bills that would terminate government-backed loan modification/foreclosure prevention programs that he calls "failed and ineffective."

Mortgages rates fell in the week ending Feb. 24 as yields declined on a flight to quality.

Single-family existing home sales rose 2.4% in January following a 12% jump in December, according to new figures compiled by the National Association of Realtors (NAR).

Though it's too early to declare that mortgage delinquencies are on the way down permanently, "We are seeing some bright spots," Anthony Renzi, Freddie Mac executive vice president of single family portfolio management, said during a press briefing at the Mortgage Bankers Association's servicing conference in Dallas Wednesday morning.

The Federal Housing Finance Agency (FHFA) Wednesday morning laid out its options for restructuring mortgage servicing compensation, including the possibility of eliminating the 25 basis point minimum paid on performing loans.