RMBS

In November U.S. home prices declined for the fourth month in a row, a sign that housing markets are still on shaky ground, according to new figures released by CoreLogic, Santa Ana, Calif.

Merrill Lynch Credit Corp. (MLCC) has renewed its private label production and servicing agreement with PHH Mortgage, Mt. Laurel, N.J., according to a new filing with the Securities and Exchange Commission.

A nationwide coalition of state pension funds are asking the nation’s biggest banks once again to “immediately” begin examinations of their mortgage and foreclosure practices through corresponding in-house Audit Committees.

The Federal Housing Administration (FHA) on Monday revised the November seriously delinquent rate for FHA-insured single family loans down to 8.34%.

Delta Lloyd’s €700 million ($906 million) ARENA RMBS deal kicks off 2011 issuance for European RMBS.

Millions of delinquent or foreclosure loans in need of default management assistance have created demand far and beyond the capacity of existing specialty servicers that, in return, is fostering the creation of mega-servicer shops.

So far, some think the market for distressed portfolios could be more active in 2011.

The Massachusetts Supreme Judicial Court ruling concerning improper foreclosures on two homes leaves open a solution to the chain-of-ownership cloud that is hanging over securitization, market analysts said.

Amherst Securities Group hired three mortgage industry veterans to expand its sales division. The executives are Peter Davidson, Chris Heaney and Chris O'Neill.

A ruling by Massachusetts' highest court Friday repudiating a widespread securitization practice could scuttle other foreclosure cases statewide and may portend similar blows to the industry elsewhere.