RMBS

The CRE Finance Council and a coalition of commercial real estate (CRE) groups sent a letter to Committee Chairman Chris Dodd (D-Conn.) and Ranking Member Richard Shelby (R-Ala.) that supported the place of covered bonds in the country's financial markets.

Although the Basel Committee on Banking Supervision provided clarity on new international capital standards this weekend, the panel left some crucial questions unanswered, including how it plans to calculate certain requirements for the most systemically risky institutions.

Although refinancing has continued to be muted given all the post-downturn market conditions that counteract today’s rates, reaction to recent prepayment reports show some speeds are still surprising to the upside in some cases.

The Royal Bank of Scotland (RBS) is looking to get back into the U.K. RMBS sector with a deal from its resurrected master trust structure called Arran, according to market reports.

Bank of America Corp., the nation's largest servicer of home mortgages, should repurchase up to $20 billion of loans that were based on wrong or missing information, according to a bond insurer trade group.

Independent mortgage banking firms earned an average profit of $917 per loan originated in the second quarter, a 51% increase from the first quarter as production volumes increased and personnel costs fell.

Mexican state agency Infonavit is nearly out with its third RMBS this year for 1.3 billion inflation indexed units ($422 million). The deal is due to price Sept. 10.

Fannie Mae 30-year MBS prepaid faster than expected in August. Speeds increased 20% in August from July versus a projection of +14%.

The Basel Committee, representing the Group of Ten nations, sent shivers up the spines of bankers last December when it released its Basel III proposal requiring them to hold significantly more equity to meet higher capital requirements.

Fannie Mae wants out of its defaulted residential mortgage holdings as quickly as possible and is warning loan servicers not to stand in its way.