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Items Tagged with 'mortgage bonds'

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Mortgage-bond price tumbles amid increased risks

Fannie, Freddie witness significant drops
Brena Swanson
Prices of a new type of U.S. Mortgage bond are tumbling as investors discover the risks in the market from Wall Street banks, with Fannie Mae and Freddie Mac bonds witnessing some of the biggest drops.
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Private mortgage bond market could stage a comeback

Treasury Secretary Jacob Lew expected to announce new initiative
Brena Swanson
The Treasury Department will launch an initiative to revive the market for mortgage securities without government backing, bringing together institutional investors and issuers of mortgage bonds to create guidelines for the new venture.
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BlackRock, Pimco sue Wells Fargo, Citi, others over mortgage bonds

Allege that trustees should have forced banks to buy back toxic loans
Ben Lane
BlackRock and Pimco are leading a group of investors who have filed suit against six of the largest mortgage bond trustees, alleging that the trustees failed to properly administer the mortgage trusts by not forcing mortgage lenders to repurchase toxic loans.
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Citi agrees to $1.125 billion mortgage bond investor settlement

Resolves legacy mortgage-backed securities
Jacob Gaffney
"This settlement resolves a significant legacy issue from the financial crisis and we are pleased to put it behind us," Citi said in a statement.
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Bank of America’s dire mortgage bond prediction

March's bond issuance was the second lowest since the early 2000s
Ben Lane
In order to pass $500 billion in purchase volume, BofA suggests that a mix of lower mortgage rates, higher affordability and easier lending standards would be required. “None of which appears forthcoming in the near term,” the bank's analysts state.
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Global investors taking risk from Freddie Mac

Risk-sharing bond transactions gain attention
Jacob Gaffney
"Our goal is to have regular, consistent issuances at least quarterly," said Donna Corley, senior vice president of single-family pricing, risk transfer and securitization for Freddie Mac. And this goal is now more of a possibility given the reinsurer appetite to support Freddie Mac.
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Bond investors demand more second lien and HELOC deals

Supply too thin in secondary market
Jacob Gaffney
MountainView Capital is reporting that investors want more secondary deals involving home equity lines of credit and other second lien mortgages. And they say they have the stats to prove it.
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Selene Finance reportedly gets big Ginnie Mae boost

Carrington Mortgage Services also part of the action
Jacob Gaffney
Sources tell HousingWire that Ginnie Mae is displeased with more than a few of its "poorer performing mortgage servicers" and will place those distressed mortgages with one of two selected third-party firms.
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It's official: JPMorgan brings private, jumbo RMBS

Their first such deal this year
Jacob Gaffney
Kroll cites the representation and warranties on the deal as negative as some "will sunset prior to the maturity of the certificates."
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Final ING mortgage bond auction set for next week

Dutch Treasury "saved the best for last"
Jacob Gaffney
This will bring the long history of ING private mortgage bond investments in the United States officially to a close.
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