RMBS

After plunging 27% in July, sales of existing single-family homes rebounded 7.4% in August as buyers took advantage of historically low mortgage rates and affordable prices.

The Collingwood Group has appointed of Mary Lou Christy as senior vice president. Before Collingwood, Christy was senior vice president of investor relations for Fannie Mae. In her 24-year career at the GSE, she also led the MBS trading desk, and was vice president of sales and marketing in the southwestern region.

Bank of America has decided to merge its Home Loan Services (HLS) affiliate in Pittsburgh, a subprime specialty servicer, into its main servicing operation.

House Republicans blasted the proposed Basel III capital standards on Wednesday, arguing the plan would make the system more uncertain without making it substantially more safe.

Both 30- and 15-year fixed mortgage rates were unchanged in the week ending Sept. 23 at 4.37% and 3.82%, respectively, according to the Freddie Mac's weekly Primary Mortgage Market

Evidence of sloppy mortgage servicing practices should come as no surprise to anyone who has paid attention to the industry during the foreclosure crisis.

On the heels of deals from Toyota Motor Credit Corp. and Chrysler Financial Corp., Consumer Portfolio Services is also coming to market with a $94.5 million auto ABS. The deal, which is managed by Citigroup Global Markets, is comprised of five tranches.

The Capital Markets Cooperative (CMC) has formed a strategic partnership with with WL Ross & Co.

Treasury Secretary Tim Geithner on Wednesday said the U.S. would implement proposed international capital rules aimed at helping financial institutions withstand future crises by 2012.

Responding to market demand, the Federal Housing Administration (FHA) is now offering a newly modified version of the Home Equity Conversion Mortgage (HECM) product that requires lower upfront premiums.