RMBS

Banks and mortgage servicers are not repossessing a massive backlog of distressed properties, which is likely to further depress home prices and prolong the housing crisis.

The House of Representatives Thursday afternoon overwhelmingly passed a Federal Housing Administration (FHA) reform bill allowing the agency to triple annual premium payments to 150 basis points, a move designed to bolster the insurer's wobbly finances.

Interactive Mortgage Advisors, Denver, has launched a new fund to invest $100 million of cash in delinquent residential loans, but also "scratch and dent" products, GSE "kickbacks" and performing notes.

RBS Securities will add three new members to its global banking and market division, the firm announced today.

The American Securitization Forum is planning to issue a paper on risk retention proposals and related amendments.

The American Securitization Forum (ASF) appointed Armando Falcon as Senior Policy Advisor.

The American Securitization Forum (ASF) focused on regulatory issues facing the ABS industry — ranging from FAS 166/167 to SEC Rule 17g-5 — at its annual meeting today in New York.

Freddie Mac is issuing another $1 billion security backed by apartment loans as part of its 'K-Certificates' program.

The conventional 30-year prepayment reports for May were uneventful. The 30-year FNMA speeds were in line with expectations.

Bank of America has agreed to pay the Federal Trade Commission (FTC) $108 million to cover foreclosure-related servicing abuses by Countrywide Home Loans (CHL), the mega lender/servicer that it purchased almost two years ago.