RMBS

Don't assume that Bank of America Corp. has blinked.

Prepayment speeds on all Fannie Mae and Freddie Mac MBS rose 6% and 8%, respectively, during November, but likely will slow soon in the months ahead, according to a new market report from Annaly Capital Management, New York.

Arizona Attorney General Terry Goddard filed a lawsuit against Bank of America Corp. Friday, claiming the country's largest mortgage servicer's handling of loan modifications constitutes consumer fraud.

The Senate passed a bill directing the Government Accountability Office (GAO) to conduct a comprehensive study of the National Credit Union Administration's (NCUA) handling of the corporate credit union meltdown.

Marathon Asset Management recently closed a new commercial real estate property in a $27.5 million senior mortgage secured by a retail center in East Brunswick, NJ.

RBS Securities, the investment banking and brokerage unit of Royal Bank of Scotland, is looking to add trading and sales professionals and strategists specializing in Latin American markets, according to senior fixed-income officials.

Fannie Mae and Freddie Mac have again delayed implementation of new mortgage and appraisal delivery requirements in the Uniform Mortgage Data Program (UMDP), according to lender updates released Thursday.

The New York Supreme Court on Wednesday ruled that MBIA Insurance Corp. did not have any way to discover if GMAC Mortgage intentionally misrepresented the true nature of MBS that MBIA insured.

The Treasury Department will gather more detailed information from residential servicers on their proprietary loan modifications.

Credit-Based Asset Servicing and Securitization (C-BASS) founders Bruce Williams and Saul Sanders have formed a new company with the working title of 'Shellpoint' to purchase and securitize jumbo residential lenders, industry sources confirmed to National Mortgage News.