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Fitch: Slow RMBS Prepayments Lengthens Default Term Risk

Fitch: Slow RMBS Prepayments Lengthens Default Term Risk

A new report from Fitch Ratings found that U.S. prime jumbo residential mortgage-backed securities (RMBS) issued since the start of 2010 are unlikely to see a "meaningful increase in prepayments, even if interest rates stay low." The company believes that the lack of prepayments will result in an increased average life of the mortgages in these trusts, further increasing the period of default risk.

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Fitch: RMBS Delinquency Not Indicative of Trend

Fitch: RMBS Delinquency Not Indicative of Trend

The highest delinquency to date of any post-crisis residential mortgage-backed securities (RMBS) doesn't indicate any trend of future delinquencies, according to an analysis by Fitch Ratings. The delinquency, according to the company, came about due to a transfer of servicing, and doesn't point to any widespread post-crisis late payment increases.

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Fitch: Green Tree Servicing Moved to ‘Rating Watch Negative’

Fitch: Green Tree Servicing Moved to ‘Rating Watch Negative’

One of the country's biggest credit ratings agencies has put Green Tree Servicing on negative watch following a report that the company failed several compliance metrics established by the 2012 National Mortgage Settlement. Fitch Ratings announced it is changing Green Tree's servicer grades to "Rating Watch Negative," citing "ongoing concerns with Green Tree's rapid growth and portfolio integration."

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$60M Residential Loan Portfolio Sold through MountainView

$60M Residential Loan Portfolio Sold through MountainView

MountainView Capital Group, a residential whole loan transaction advisor in Denver, Colorado, announced the closing of a deal involving a portfolio of residential mortgage loans with a total unpaid principal balance of approximately $60 million. The seller was listes as ResCap Liquidating Trust, and Mountainview served as ResCap’s loan sale advisor.

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RMBS Prepays Approaching Post-Crisis Low

RMBS Prepays Approaching Post-Crisis Low

According to Fitch Ratings' latest quarterly index, prepayment rates among U.S. residential mortgage-backed securities (RMBS) have declined to the lowest levels of the post-crisis era. Fitch Ratings' director Sean Nelson attributed the decline in prepayment rates to higher interest rates and fewer distressed liquidations.

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Judge Upholds $1.5 Billion Claim against Wells Fargo

Judge Upholds $1.5 Billion Claim against Wells Fargo

A lawsuit filed by European bank LBBW Luxemburg S.A. over an alleged $1.5 billion subprime mortgage-backed securities (MBS) fraud scheme was upheld by a federal judge, who denied the bank’s motions to dismiss. U.S. District Judge J. Paul Oetken let stand charges of fraud, breach of contract, negligent misrepresentation, and constructive fraud against Wells Fargo Securities LLC and Fortis Securities LLC.

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Fed Survey Finds Increased Interest in RMBS

Fed Survey Finds Increased Interest in RMBS

The Board of Governors of the Federal Reserve System released findings from its Senior Credit Officer Opinion Survey for March, 2014. The report found that credit officers are experiencing an increased demand for residential mortgage-backed securities (RMBS).

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