RMBS

It was no small irony that moments after voting to bar corporate credit unions from investing in risky CDOs, the National Credit Union Administration (NCUA) Board gave its approval to a plan to shed as much as $50 billion in toxic MBS held by the corporate system by repackaging them for sale to the public as CDOs.

Re-default rates on Home Affordable Modification Program (HAMP) modified loans are half the rate of other permanent modifications, according to second quarter servicing figures complied by the Office the Comptroller of the Currency (OCC) and Office of Thrift Supervision (OTS).

The LPS Auction Solutions division of Lender Processing Services will conduct an online auction of 26 bank-foreclosed homes located nationwide with a bid deadline of Oct. 18.

Analytics solutions provider MIAC Analytics hired Jeff Zuckerman as vice president of software sales.

Sales of new single-family homes had their second-worst month on record in August, with transactions falling to a 288,000 seasonally adjusted annual rate, according to figures released by the Commerce Department.

The Association for Financial Markets in Europe (AFME) appointed Simon Lewis as its chief executive. The new hire will assume his position on Oct. 1.

Lawmakers raised renewed concerns Thursday over the future viability of the Federal Housing Administration (FHA), even as the agency's commissioner, David Stevens, touted some progress in restoring its depleted capital reserves.

The Department of Housing and Urban Development this week revealed some significant changes to its Home Equity Conversion Mortgage (HECM) Program.

The Federal Deposit Insurance Corp. (FDIC) will be having a board meeting on Monday to discuss the final Safe Harbor rules.

Moody's Investors Service has placed on review for possible downgrade GMAC Mortgage's servicer quality (SQ) ratings.