RMBS

The U.S. Treasury Department has already started a rigorous implementation planning process to prepare for when the financial reform legislation is finalized.

Some second-mortgage holders are demanding that distressed borrowers giving up their homes through short sales pay off their junior liens — under the table.

Oregon Treasurer Ted Wheeler and Attorney General John Kroger have pursued legal action against Countrywide Financial in order to recoup nearly $29 million in losses that they say the state’s public retirement fund suffered during the mortgage crisis of year’s past.

Regulatory reform survived its last significant hurdle Thursday with the Senate moving to block further changes and hold a final vote on the bill.

With U.S. financial reform nearly through, eyes are turning to the Basel Committee on Banking Supervision, which is hammering out a set of regulatory standards intended to lay the foundation for a global overhaul.

Freddie Mac reported that 30-year fixed mortgage rates for the week ending July 15 remained the same from last week. Current rates are at their record low of 4.57% (with an average 0.7 point).

JPMorgan Chase CEO Jamie Dimon said his company was one of "many" broker/dealers that received a subpoena from the Federal Housing Finance Agency (FHFA).

The Federal Deposit Insurance Corp. (FDIC) will begin taking final bids on the $23 billion AmTrust Bank residential servicing portfolio by the end of July with a winner picked shortly thereafter, investment banking sources said Wednesday.

Fitch Ratings said that the Financial Services Authority's (FSA) proposed ban on self-certified and fast-tracked mortgages is unlikely to affect the agency's U.K. RMBS ratings.

Subprime residential lending is making a comeback of sorts, except that none of the firms funding the loans call the product "subprime."