RMBS

Fitch Ratings assigned a Negative Outlook for the entire U.S. residential mortgage servicer ratings sector on increased concerns surrounding alleged procedural defects in the judicial foreclosure process.

Mortgage application activity was mixed in the week ending Oct. 29 with refinancing activity declining, while purchases rose.

The Federal Reserve will move ahead with its much-speculated second round of quantitative easing to promote a stronger economic recovery pace and to ensure that inflation, over time, remain at levels consistent with its mandate.

Freddie Mac recovered $1.7 billion from its seller/servicers in the third quarter, taking in cash or getting bad loans off its books because firms that sold mortgages to the GSE bought them back.

After pricing a sizeable securitzation backed by residential mortgages in mid-September, the National Credit Union Association (NCUA) is in the market again. This time the NCUA is out with a CMBS transaction worth $3.76 billion.

In the face of the increasingly uncertain mortgage environment, many investors are electing to lock in gains before yearend in the non-agency space.

Principia Partners recently surveyed over 500 investors, issuers, regulators and other structured finance professionals on the subject of investor due diligence.

Ginnie Mae later this month will start providing MBS investors with new information about the percentage of modified single-family mortgages in its MBS pools.

Katten Muchin Rosenman hired five structured finance lawyers from Dewey & LeBoeuf, including five structured finance partners in New York and a financial products tax partner in Washington, D.C.

First Horizon National Corp. (FHN) disclosed in a Securities and Exchange Commission 10-Q filing that it has been subpoenaed by the conservator for two GSE investors in six securitizations.