Tag Archives: Mortgage-Backed Securities

How are delinquent residential single-family mortgage loans modified by Fannie Mae performing after their modifications? The industry is about to find out.

Fannie Mae has announced that later this year it will begin securitizing reperforming loans. What are the potential benefits of this move?

The FDIC claimed in the suit that Goldman Sachs, Deutsche Bank, and Royal Bank of Scotland misrepresented the quality of $2 billion worth of mortgage-backed securities it sold in 2004 and 2005.

Bank of New York Mellon told the U.S. Supreme Court in a filing that overturning a Second Circuit Court ruling would mean disaster for the residential mortgage-backed securities market.

A former Wells Fargo subprime loan officer has asked the Second Circuit Court of Appeals to revive her suit against the bank, claiming that Wells Fargo engaged in a scheme to knowingly sell toxic mortgage-backed securities to investors to qualify for city and state tax exemptions.

This bundle of loans, CMLT 2015-PS1, is the third securitization issued by Citigroup in 2015 and comes with an unpaid principal balance (UPB) of $421 million.

A district judge refused to revive the case in September 2013 based on allegations by the DOJ, saying that the outcome of the case would not have been changed by new information brought up about representations made by S&P to investors.

Although agency mortgage-backed securities liquidity has declined recently, it remains mostly where it was prior to the housing bubble; the current levels of agency MBS liquidity are likely to be in place for a while, since the factors driving the decline are unlikely to slow down in the foreseeable future.

According to the bank’s quarterly filing with the Securities and Exchange Commission, the bank has agreed to pay $335 million to settle a federal lawsuit that claims the bank misled shareholders as to the quality of certain mortgage-backed securities sold to investors immediately following the crisis.

REO inventory for the GSEs totaled about 88,000 at the end of Q2, a decline of 14 percent from the end of Q1 (about 102,000) and 34 percent from the end of Q2 2014 (134,000), according to FHFA.