RMBS

The foreclosure document debacle, a huge embarrassment and liability for mortgage servicers, could soon also ensnare the banks that act as trustees for securitizations.

House price appreciation may not be what it used to be, but most participants in the National Association of Realtors' (NAR) annual profile of buyers and sellers still believe home ownership is a sound investment.

Redwood Trust, the only company to securitize jumbo loans during the past two years, has pushed backed its second deal to early 2011 because of a lack of available product.

Structured finance advisory firm Paladin Advisors hired Steve Campo as a managing partner in advisory services. Campo has over 30 years of experience as an accountant, issuer, financial guarantor and advisor in the ABS industry.

Citigroup Inc mortgage bond investors, including Charles Schwab Corp and hedge fund Cambridge Place Investment Management, have filed suit against the bank over its home loan underwriting processes, according to a Reuters report.

House prices look set to remain on a downward trajectory and is likely to keep repayment rates in U.K. RMBS low.

BlackRock is planning to launch a fund that will begin financing U.S. home loans specially made for a new kind of RMBS, according to a Reuters report.

Commercial and multifamily mortgage originations are at their highest level in nearly two years — driven by sequential growth in the health care and multifamily sectors.

Banca Monte dei Paschi di Siena is in the market with a €3.47 billion ($4.9 billion) Italian RMBS deal, a rarity among a primarily U.K. and Dutch dominated European RMBS market.

The 30-year fixed mortgages averaged one basis point higher to 4.24% with an average 0.8 point in the week ending Nov. 4, according to Freddie Mac.