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Tag Archives: Residential Mortgage-backed securities

Report: Mortgage Regulations Have Had Positive Impact on RMBS Sector

While the onslaught of new mortgage regulations in the last year has created headaches for lenders, it's had a clear positive impact in one area, Fitch Ratings says in a new report: the residential mortgage-backed securities (RMBS) sector. In its latest look at the RMBS segment, the company says that while the market still has some rebuilding left to do, it "has seen some rather substantial improvements of late," owing in large part to improved loan underwriting standards in recent years.

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Bank Claims $2.2 Billion in Consumer Relief Toward Settlement Requirement

JPMorgan Chase reported that it has provided more than half of the consumer relief required in just one year as part of a settlement with the government last year, according to a report released Tuesday. The internal review group for the New York-based megabank asserted in the third Chase Consumer Relief Update, compiled by Monitor Joseph A. Smith, Jr., that Chase has earned $2.2 billion in consumer relief credit from the period of October 1, 2013, to September 30, 2014.

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

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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