Fannie, Freddie settlements eat into PNC earnings

Fannie, Freddie settlements eat into PNC earnings

Earnings barely move from 4Q13

Here are 5 bold mortgage predictions from KBW

Q1 mortgage volume predicted to be $20 billion lower than expected

Here's proof the housing bubble is about to burst

This recovery is an illusion
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Investments

HSBC gets the go ahead to sue DB over reps and warrants

Judge denies motion to dismiss case from pre-crisis RMBS deals
April 16, 2014
A New York judge denied Deutsche Bank’s bid to dismiss four lawsuits that would force it to either pay damages or buy back subprime mortgages packaged into RMBS back before the start of the 2008 financial crisis.
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BAC posts $276M loss in 1Q driven by $6B in mortgage litigation costs

Bank makes headway with legacy, delinquent mortgages
April 16, 2014
Heavy mortgage-related litigation expenses and a mortgage lending business in retreat hurt Bank of America in the first quarter of 2014, with the bank forking over $6 billion in mortgage-related litigation costs this quarter.
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Moody's: Johnson-Crapo could ramp up issuance of private-label RMBS

See positive potential in Senate GSE reform measure
April 14, 2014
Moody's says the GSE package could help kick-start issuance in the private-label residential mortgage-backed securities.
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Fitch: Apartments are filling up

CMBS fundamentals remain solid
April 14, 2014
CMBS loan defaults, including those for multifamily properties, dropped for the fourth consecutive year and to their lowest level since 2008, according to Fitch Ratings in its annual CMBS loan default study.
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Monday Morning Cup of Coffee: Will Citi follow in JPMorgan, Wells Fargo footsteps?

Also, criticism grows for FHA fees
April 13, 2014
In an important week on earnings, analysts lay out the scenario of performance for Citigroup. Plus, mortgages are growing at smaller lenders, criticism of the FHA continues, and the investor plan to buy a Baltimore bank appears in jeopardy.
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Mortgage-bond traders forced to take leave

Big banks tell traders to skip work
April 11, 2014
Mortgage-bond traders at JPMorgan Chase, Morgan Stanley and Royal Bank of Scotland were placed on leave and told not to come to work. Could it be related to a high profile court case involving fraudulent mortgage bond trading?
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The top 15 emerging markets for international house hunters

Lamudi reveals the most sought-after cities on its platform
April 11, 2014
Cities in Pakistan, Mexico and North Africa are among the most popular markets for international house hunters investing in emerging markets.
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Legg Mason's Miller bullish on subprime servicers like Nationstar

Sees growth opportunity, not danger
April 10, 2014
Legg Mason chairman and chief investment officer Bill Miller told CNBC’s Squawk Box that Legg Mason is bullish on big subprime mortgage servicers like Nationstar and Springleaf.
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Delinquency rate on private RMBS is nonexistent

Just two of 20,000 since 2010 are delinquent
April 10, 2014
The delinquency rates on recently issued U.S. RMBS are almost nonexistent almost four years after the first post-housing crisis deal was signed, Fitch Ratings says in its new U.S. prime jumbo RMBS monthly trends report.
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Faulty mortgage lawsuit against Wells Fargo clears hurdles

Deals with $1.5 billion MBS fraud scheme
April 10, 2014
A lawsuit over an alleged $1.5 billion subprime mortgage-backed securities fraud scheme against Wells Fargo and Fortis Securities cleared a significant hurdle last week.
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