RMBS

If Rep. Scott Garrett has his way next year, covered bonds will become a viable way to provide an array of credit, the conservatorship of the GSEs will be unraveled and the new consumer protection bureau will be repealed.

It seems no one is going to escape scrutiny now that the 50 state attorneys general and the GSEs are requiring almost every servicer to review their foreclosure processing procedures.

The $3.847 billion securitization for the National Credit Union Administration (NCUA) has launched and is expected to price early afternoon today. This is the first in a series of securitizations for the NCUA.

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.