Securitization

Chicago is the latest city to pass a resolution to hold hearings on whether to use eminent domain to seize underwater mortgages from private investors.

More records were set as the week commenced along lower coupon MBS and 10-year Treasury note yields as a result of global growth and eurozone worries.

PennyMac Mortgage Investment Trust, a fast growing buyer of mortgages from correspondents — including Jumbos — recently inked a deal to receive a $100 million repo line from Barclays Bank .

Citigroup Global Markets analysts said in a report today that, while the Countrywide RMBS settlement may still be contested by other parties, the withdrawal of Walnut's Place entities of their separate rep and warranty lawsuit means the agreement's terms are will likely be finalized soon.

National Credit Union Administration (NCUA) Chairman Debbie Matz hailed Wednesday’s federal court ruling denying a bid by Wall Street banks to dismiss NCUA’s suits regarding corporate credit union investments and said the agency is determined to see the cases through.

New advances are providing technology to mortgage industry and secondary market participants that allows them to access detailed information about RMBS.

Even though fewer borrowers are delinquent on their home mortgages compared to a year ago, late payments rose in June, compared to May, by 3.4%, according to Lender Processing Services’ latest “First Look” report.

Canadian Imperial Bank of Commerce (CIBC) has added a C$200 million ($197 million) revolving auto dealer floorplan facility to its SAFE Canadian ABCP.

Mitsubishi Corp. will start originating CMBS in the U.S. through a joint venture with Five Mile Capital Partners (FMC), an asset management firm specializing in real estate debt and related products.

The U.S. higher education sector is currently facing developing risks such as increased regulatory scrutiny, accreditation tightening, technology challenges, and governance conflicts, according to a Moody’s Investors Service mid-year outlook on the sector released today.

Residential funders issued $34.7 billion of Ginnie Mae-backed MBS in June, down nearly $2 billion from the month prior, but a 32% spike from a year ago, according to new figures released by the agency.

Freddie Mac's weekly mortgage rate survey reported new record lows for 30- and 15-year fixed mortgage rates in the week ending July 26. The 30-year rates averaged 3.49%, down four basis points from last week, with the no point rate at 3.67%. 15-year fixed rates averaged 2.80% versus 2.83% previously.

Barclays Bank Delaware's (BBD) trust will issue the first credit card securitization that will fall under the Federal Deposit Insurance Corp.'s (FDIC) new Safe Harbor rule, Moody's Investors Service analysts said in yesterday's Credit Card Statement report. The agency adopted the rule on September 27, 2010.

Consumers have become more cautious in using their credit cards as issuers tighten their lending standards. Delinquency rates have also been decreasing.

Hudson City Bancorp—one of the largest buyers of correspondent loans in the New York/New Jersey area—plans to sell more of its production into the secondary market going forward.

WASHINGTON - Sales of new single-family houses fell 8.4% to a seasonally adjusted annual rate of 350,000 in June, the Commerce Department reported Wednesday.

CoreLogic is now offering a new product called RiskModelDIRECT for large and smaller banks and investors to retrieve CoreLogic Risk Model projections for non-agency RMBS advanced prepayment, default, severity, and delinquency rate.

VantageScore Solutions has released a white paper that answers frequently asked questions related to improving credit scores titled “Assume the Role of Managing Your Credit Prudently and Watch Your Credit Score Improve.” I

There’s leverage, and then there’s leverage, according to a recent Moody’s Investors Service commercial mortgage-backed securities report.