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Home | Tag Archives: RMBS

Tag Archives: RMBS

Financial Institutions Account for Much of DOJ’s Record $24.7 Billion in Fines Collected in FY 2014

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The U.S. Department of Justice (DOJ) announced earlier this week that it has issued $24.7 billion in fines and penalties from various organizations for the fiscal year ending September 30, 2014, which was more than three times the $8 billion that DOJ collected for FY 2013. Much of the money collected was a result of enforcement actions by DOJ upon financial institutions for their handling of residential mortgage-backed securities.

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RMBS Liquidations Increase for the First Time in Almost Two Years

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Annualized liquidations of United States RMBS loans increased last quarter for the first time in seven quarters, according to a report issued Monday by Fitch Ratings. The conditional default rate increased in Q2 2014 to 4.92 percent after nearly two years of declines from 9.76 percent in Q2 2012. The previous decline was spurred on by shrinking inventories of distressed properties and a decrease in the use of short sales.

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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

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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