RMBS

Investors holding securities wrapped by Financial Guaranty Insurance Co. (FGIC) recently formed a policyholder group in an effort to negotiate a restructuring and avoid the insurer’s liquidation.

Joseph Herbst, a top executive at two large corporate credit unions that failed under the weight of risky mortgage investments, emerged last week after being hired as the new CEO for CUMAnet, a mortgage lending credit union services organization (CUSO) based in Basking Ridge, N.J.

Until recently, much of the attention surrounding "put-back risk" has focused on the legal aspect, notably whether judges will require lenders to repurchase loans they sold to securitizers.

Wells Fargo Bank has filed an S-3 with the Securities and Exchange Commission to issue under its Wells Fargo Mortgage Securities Trust.

That the recession has been over officially for more than a year is of little solace to downtrodden mortgage brokers. But a Fannie Mae economist said that if loan jockeys are patient, things will get better.

The Bank of England (BofE) published detailed data and other requirements for securitizations to remain eligible under its discount window.

Federal regulators took another beating on Capitol Hill Thursday for not getting ahead of problems in the mortgage servicing industry and not taking greater steps to stem foreclosures.

Phoenix Capital is offering an $816 million package of Fannie Mae servicing rights owned by a West Coast mortgage company called Just Mortgage.

As regulators try to collaborate on new securitization rules, a fissure has emerged in bankers' own thinking on the subject.

After a record 2010, covered bond supply is expected to drop in 2011 as banks begin to choose other alternatives, Societe Generale analysts said.