RMBS

Higher mortgage rates and the Thanksgiving holiday contributed to further slowing in refinancing activity for the week ending Nov. 26.

To quell doubts about its mortgage unit's handling of documents, Bank of America Corp. is distancing itself from … itself.

The drive to privatize Fannie Mae and Freddie Mac may pick up some steam in January when the Republicans actually take over control of the House of Representatives. But it will be largely a lot of hot air, according to federal policy specialists at the National Association of Realtors (NAR).

Some in the “there are no bad bonds, there are only bad prices” club (or perhaps today, the “there are no bonds club”) continue to espouse a love of nonagency RMBS — but for how long?

Barclays Capital has launched a new residential mortgage credit model that covers all major residential mortgage products. This tracks mortgages as they progress through the whole chain of borrower actions and servicer reactions.

Home prices fell 0.7% in September — the second monthly decline since July – with values sliding in 18 of the 20 cities measured by the Standard & Poor's/Case-Shiller house price index.

An €85 billion ($110 billion) rescue package for Ireland was announced over the weekend. The European Commission (EC) will provide €67.5 billion and the rest will come from Ireland.

Walter Investment Management Corp., Tampa, said it has signed deals to pay $90 million for several pools of mostly performing first liens from undisclosed sellers.

The effect of halted or delayed foreclosure completions and REO sales was realized in the November ABX remittance reports, according to Bank of America Merrill Lynch analysts. This was evidenced by the fact that default rates on each index were down on the month, they said.

Law firm Nixon Peabody has named veteran partner Craig Mills as head of its global finance practice, which it plans to expand, the firm said today.