RMBS

A New York state judge has dismissed a lawsuit filed by hedge fund investors in 2007 against Countrywide Financial Corp. over soured MBS issued during the boom years.

Recent scrutiny of foreclosure executions related to allegations of procedural flaws could affect some securitization prepayments.

The 30-day plus delinquency rate on CMBS edged up in September to a new record of 9.05%, according to Trepp.

First Horizon National Corp. said declines in problem assets may have hit a temporary wall, with further improvement possibly on hold until mid-2011.

The nation's foreclosure crisis has resulted in loan closings being scuttled in some regions of the nation and fears are mounting that if the situation isn't rectified soon it will damage the one area where lenders are posting stellar profits: new originations.

Moody's Investors Service placed the mortgage servicer quality (SQ) ratings of MetLife Home Loans, Litton Loan Servicing, and Bayview Loan Servicing on review for possible downgrade yesterday.

Reacting to what it termed as "misinformation circulating within the financial markets, " the American Securitization Forum (ASF) today released a statement standing behind the validity of transfers of residential mortgage loans to securitization trusts. This is in reaction to recent discussion around the market claiming otherwise.

For a short two-week period, the Rural Housing Service (RHS) was guaranteeing loans again, but that came to end on Oct. 1.

Standard & Poor's examined the implications of the Federal Deposit Insurance Corp.'s (FDIC) recently approved changes to the Safe Habor rule. The rule refers to the applicable legal regime to financial asset tranfers by banks for securitization purposes if the financial institution becomes insolvent.

A widely used third-party registry of mortgage assignments has found itself in the center of “foreclosure-gate,” amid allegations that its service is part of the greater issue of faulty or even illegal foreclosure practices plaguing the lending industry.