EXCLUSIVE: Morris Schneider Wittstadt officially files for Chapter 11 bankruptcy

EXCLUSIVE: Morris Schneider Wittstadt officially files for Chapter 11 bankruptcy

Mark Wittstadt: Butler & Hosch sale, Dustin Johnson lawsuit severely impacted firm

What to expect when you’re expecting a CFPB administrative action

A deeper look at PHH ruling reveals how the bureau views enforcement

Monday Morning Cup of Coffee: Is housing strong enough to weather rate hikes?

Plus the mortgage bond outlook, the NYT joins the GSE investor struggle, and more
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Items Tagged with 'mortgage-backed securities'

ARTICLES

Nomura found liable for selling toxic mortgages to Fannie, Freddie

Judge: Magnitude of falsity “enormous”
Trey Garrison
A federal judge ruled Monday that Nomura Holdings misled Fannie Mae and Freddie Mac when it made false representations about the quality of mortgages that were used to back $2 billion in securities it sold to the GSEs. The judge said the “magnitude of falsity, conservatively measured, is enormous."
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A Craigslist for mortgage bond traders?

Service still being tested
Brena Swanson
A new company is stepping up to the challenge to open new trading options for investors. Could this be a sustainable second option to The Street?
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PIMCO Total Return ups its MBS position

New manager wants to rebuild mortgage securities stake
Trey Garrison
PIMCO Total Return Fund is going heavier into mortgage backed securities, industry sources report. Here’s why.
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NY appeals court approves Countrywide’s $8.5B settlement

BNY Mellon acted properly as trustee four years ago
Trey Garrison
This could be the final hurdle, and payouts could be coming soon in the rep and warranty settlement. Here’s what happened and what it could mean for JPM and Citibank’s settlements.
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Bank of America, U.S. Bancorp face another MBS suit

NCUA files lawsuit against two large banks
Brena Swanson
Some of the country's biggest banks are facing another mortgage-related lawsuit. This time the National Credit Union Administration Board is filing the suit, claiming that both Bank of America and U.S. Bancorp failed to review mortgage loan files for irregularities.
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Court rulings in unpaid HOA fees raise risk in RMBS, SFR deals

Moody’s: Newer deals have provisions to mitigate risk
Trey Garrison
A new report from Moody’s Investors Service spotlights how recent rulings by the highest courts in Nevada and Washington, D.C. on unpaid HOA fees raise risk in residential mortgage-backed securities and single-family rental securitizations.
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What the end of QE means for the future of the MBS market

MBA details the challenges of increasing private capital
Trey Garrison
A new white paper from the Mortgage Bankers Association looks at what the future holds for the real estate finance industry secondary market now that the Federal Reserve has put a full stop on its quantitative easing program, wherein it pumped trillions of dollars into mortgage backed securities.
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New York Fed chooses three firms for counterparty pilot program

Exploring ways to broaden access to open market operations
Ben Lane
The program applicants’ ability to maintain a consistent transaction presence in the secondary market for agency MBS securities, as both a seller and a buyer, while acting as principal, was one of the primary determining factors.
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Fannie Mae issued $9.1B in multifamily MBS in 3Q14

Total volume nearly doubles 2Q14 issuance
Trey Garrison
Fannie Mae issued about $9.1 billion of multifamily MBS in the third quarter backed by new multifamily loans delivered by its lenders.
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Jefferies trader Litvak may win reversal of rare fraud conviction

Originally sentenced to two years in prison
Brena Swanson
In an unexpected turn of events, former Jefferies & Co. Managing Director Jesse Litvak has a good chance of overturning his conviction for defrauding mortgage bond investors after the 2008 financial crisis. Litvak is the only person convicted of fraud in relation to the $20 billion U.S. Treasury Department’s Troubled Asset Relief Program.
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