Bank of America reportedly reaches $17 billion RMBS settlement

KBRA: More smoke than fire in Ocwen’s restated earnings

Cautions that MSR transactions could see more regulatory scrutiny

Truth is, those recent housing numbers aren't so shiny

Housing starts? More like housing stops, amirite?
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Items Tagged with 'subprime'

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$366 million in subprime-boom bonds coming to market

Big names scheduled to trade Tuesday
Ben Lane
Of note in the breakdown of the bond pool are some notorious names from the subprime lending boom, including: Ameriquest Mortgage, Countrywide Financial, Bear Stearns, Goldman Sachs, JPMorgan, and Citigroup.
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$640 million in subprime-boom bonds coming to market

Two lists of “major” non-agency RMBS to bid separately
Ben Lane
"My sense is that this is related to general risk reduction ahead of Wednesday’s FOMC announcement, Friday’s non-farm payroll report, and month end," David Varano of Interactive Data said. "Additionally, this could also be driven by certain investors looking to test the market after it appeared to easily absorb those two massive bid lists last week in order to gauge current demand levels."
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Morgan Stanley finally pays $275 million for subprime RMBS fraud

SEC charged company with misrepresenting loans
Ben Lane
The SEC had charged Morgan Stanley with misrepresenting the delinquency status of mortgage loans underlying two subprime RMBSs at the height of the financial crisis. They were the last subprime RMBSs that Morgan Stanley sponsored, issued, and underwrote.
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Here’s exactly how ditech is coming back into the market

Correspondent lending is a big part of the company's new plan
Ben Lane
The company, which was once of the leaders in subprime lending, has released details on just how it plans to build a base in one of its new areas of focus: correspondent lending.
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ditech returning to the mortgage market in a big way

Second act for former subprime lender leverages brand awareness
Trey Garrison
ditech, a company that was once a poster child for pre-crash subprime lending, is getting its second act, and hoping to leverage its high-profile brand name and get back into the national mortgage market as a major player.
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HSBC gets the go ahead to sue Deutsche Bank over reps and warrants

Judge denies motion to dismiss case from pre-crisis RMBS deals
Trey Garrison
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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Bank of America close to beating DOJ $850M RMBS fraud suit

Justice Dept. hasn't proven allegations in FIRREA case
Trey Garrison
A U.S. magistrate is recommending dismissal of a federal case against Bank of America for fraud against investors regarding the quality of $850 million in loans bundled into mortgage-backed securities.
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No Reuters, this is not a return to subprime risk

Loosening credit standards is not a prelude to Global Meltdown 2.0
Trey Garrison
To Reuters, loosening credit a little is the bank “tiptoeing back into subprime home loans again.” The problem? It’s just not true.
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Is the growing market share of ARMs cause for concern?

Capital Economics wants to know
Jacob Gaffney
The economics company states the adjusted rate mortgage appears to be in the middle of something akin to a renaissance. And it gives three reasons this trend is not a heart stopper.
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Lippmann: Mortgages have a little further to run

HousingWire Staff
Hedge fund manager Greg Lippmann is still a fan of mortgages, though his interest has cooled somewhat going into 2014. Lippmann, the famed Wall Street trader who made his name better against subprime mortgages, told Reuters he still seems some room to run -- but not with the same upside seen in 2012 and this year.
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