RMBS

Fannie Mae issued $40.2 billion of MBS in June, up 11% in May, but far below the $130 billion it issued in the same month a year ago during a major boom in refinancings.

European ABS looks set to enter August on a quiet note. On the primary side, there are no new public offerings in the pipeline after last week's launch and pricing of Santander's auto loan ABS deal.

The European Central Bank (ECB) raised the haircuts for repo lending including ABS assets by four percentage points to 16% from 12%. The new haircuts for ABS lending will be valid as of January 2011.

The Securities and Exchange Commission (SEC) Thursday charged Citigroup with misleading investors about its exposure to subprime mortgage-related securities.

The Senate Banking Committee approved the nominations of Janet Yellen, Peter Diamond and Sarah Bloom Raskin to be members of the Federal Reserve Board.

The House Financial Services Committee agreed late Wednesday to make changes to a bill to establish a covered bond market in order to address some of the concerns raised by the Federal Deposit Insurance Corp. (FDIC).

The latest ABX remittance data showed that CDR levels increased modestly in July, as average values for each index ranged from flat to up 1.4 points, according to Bank of America Merrill Lynch analysts.

The Securities and Exchange Comission (SEC) said today that it will open up a public comment period on the new rules presented under the Dodd-Frank Reform Bill. This will before the official comment periods have started.

PHH Corp. has named Smriti Laxman Popenoe as executive vice president and chief risk officer effective Sep. 13. Popenoe will be responsible for the design and implementation of an enterprise-wide risk framework and will work with the firm’s business units to identify, effectively manage and mitigate credit, market and operational risks.

A fight is brewing between regulators and Congress over how to develop a covered bond market, with the latest salvo expected to be fired as soon as Tuesday, when the House Financial Services Committee could begin voting on a bill tackling the issue.