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    While most of the biggest names in mortgage lending are focused on the Mortgage Bankers Association’s annual conference, taking place right now in Boston, one of the biggest names in real estate revealed that it is getting into the mortgage business. On Tuesday, RE/MAX announced that it is launching Motto Mortgage, a mortgage brokerage franchise that the company plans to take nationwide. Click the headline to read more.


ING mortgage bonds flood market

Pre-announced liquidation absorbed by Wall Street


According to structured finance analytics firm Interactive Data, the announced liquidation of $5.1 billion from the ING Illiquid Assets Back-up Facility spiked activity levels higher yesterday in the mortgage bond market.

A handful of Wall Street finance companies purchased portions of the 316 residential mortgage backed securities portfolio, according to the Dutch State Treasury Agency.

The ING Group (ING) is a Dutch investment firm and insurer. It received a bailout from the Netherlands and is liquidating all non-core, non-insurance assets as part of the conservatorship.

The ING Illiquid Assets Back-up Facility remaining size of the portfolio has a face value of $6.5 billion, which will be auctioned within the next twelve months.

ING had a notoriously difficult time bringing this portfolio to market and received much greater success in selling off its core U.S. real estate assets.

Here's how the sale went down:

Bank of America (BAC) received a $1.8 billion allocation.

Goldman Sachs (GS) purchased $1.3 billion.

Credit Suisse (CS), Deutsche Bank (DB) and Morgan Stanley (MS) split the remaining amount in relatively equal measure ($550 to $800 million each).


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