RMBS

Bank of America Corp. is halting foreclosure sales in all 50 states as it extends its review of foreclosure documents.

President Obama late Thursday vetoed a bill that was designed to facilitate electronic mortgages and e-commerce. The veto arose in the wake of fears that language in the legislation would make it easier for servicers to get foreclosures approved by the courts.

Investec is in the market with a U.K. RMBS deal worth ₤186 million ($295.26). Barclays Capital and Investec Bank are managing the eight-tranche transaction called Residential Mortgage Securities 25 (RMS 25).

Remember all those prognostications from industry experts how the Dodd-Frank bill would destroy the nonbank segment of the mortgage industry, resulting in a total takeover of residential finance by depositories?

The September prepayment reports brought relief after the August data encouraged fears of a potential refi wave in the making.

Senator Richard Shelby, R-Ala., ranking Republican on the Senate Banking Committee, is calling on federal regulators to investigate the foreclosure problems at three major banks and report back to the committee.

Freddie Mac's weekly mortgage rate survey reported new record lows set for 30- and 15-year fixed-rate mortgages as well as 5/1 hybrid ARM rates.

PHH Corp., which controls the nation's eighth largest servicer, is likely to take a $100 million writedown on the value of its mortgage servicing rights in the third quarter, according to a new research report from FBR Capital Markets.

Ohio became the first state to level a civil fraud suit against a major servicer, claiming the company misled courts in hundreds of foreclosure cases by filing fraudulent affidavits.

Ohio Attorney General Richard Cordray said that on Wednesday afternoon he will unveil a civil fraud case against a "national loan servicer," charging that company with foreclosure fraud in regard to hundreds of loans in the state.