RMBS

The Treasury Department singled out the three largest banks — Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co. — for failing to properly solicit and consider homeowners for the government's loan modification program.

Congressman Dennis Cardoza (D., Calif.) plans to introduce a blanket modification effort for GSE loans that could see as many as 30 million U.S. mortgage borrowers refinance their mortgages at record low interest rates.

Yesterday Moody's Investors Service placed the ratings of 319 RMBS tranches of 114 deals serviced by GMAC on review for possible downgrade as a result of specific servicing concerns.

Home prices have risen for four straight months, but the rate of growth has slowed, according to new figures tracked through the Standard & Poor's/Case-Shiller house price index.

The Federal Deposit Insurance Corp. (FDIC) unexpectedly delayed the release of an interim rule to create a resolution system for the largest, most-connected banks and nonbanks, saying it needed to consult with other regulators first.

Jefferies named Peter Santry as a managing director and head of distressed trading in its leveraged finance sales and trading division, the firm announced Monday.

The American Securitization Forum (ASF) released a statement saying that the Federal Deposit Insurance Corp.'s (FDIC) action today will seriously harm the federal government’s ability to exit the U.S. housing market and to reestablish a private label mortgage market.

State Street Global Advisors (SSgA), the investment management business of State Street Corp., engaged investment manager Smith, Graham & Co. Investment Advisors to assist in providing asset management services for the U.S. Department of the Treasury’s MBS Purchase Program.

The Federal Deposit Insurance Corp. (FDIC) is set Monday to begin a Herculean task: creating a resolution procedure for large, systemically important firms that improves on the bankruptcy process but still resembles it enough that it does not unsettle the marketplace.

California Attorney General Jerry Brown late Friday ordered the government-owned Ally Financial to stop foreclosing on homes in the state if it cannot prove immediately that it is complying with state law.