Bank of America: 'We provide all required MSR documents'

Bank of America: 'We provide all required MSR documents'

Responds to Ginnie Mae MSR transfer block

17% of homes with a mortgage seriously underwater

Share of underwaters continues slow decline

Here are 5 bold mortgage predictions from KBW

Q1 mortgage volume predicted to be $20 billion lower
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Items Tagged with 'MBS'

ARTICLES

3 reasons Citi will miss next week

Costly but favorable MBS settlement is just one reason
April 8, 2014
Citigroup is facing a gauntlet of troubles, now warning investors it may miss a key profitability target because of the central bank’s rejection of its capital plan in March, and a $100 million charge in the first quarter of 2014 as part of its $1.125 billion MBS agreement announced Monday.
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Wall Street getting hungrier for private-label MBS?

Fed credit officer survey says yes
April 4, 2014
Wall Street is getting hungrier for private-label mortgage-backed securities, if the Federal Reserve’s quarterly survey of senior credit officers is accurate.
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Bank of America close to beating DOJ $850M RMBS fraud suit

Justice Dept. hasn't proven allegations in FIRREA case
March 28, 2014
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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Fannie, Freddie, FHFA settle MBS lawsuit with BofA

Provides aggregate payment of $9 billion by BofA
March 26, 2014
Fannie Mae, Freddie Mac and the Federal Housing Finance Agency reached an agreement with Bank of America to settle claims associated with non-agency mortgage-related securities from 2005 to 2007.
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PIMCO cuts mortgage-backed securities holdings

Moving to investments outside the U.S.
March 12, 2014
PIMCO, the world's largest bond fund, is moving away from its investments in mortgage-backed securities and U.S. government-related holdings. Why would it change strategy?
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Former Jefferies trader to face trial by jury

Jesse Litvak charged with defrauding TARP
February 19, 2014
Litvak faces 20 years in prison for allegedly misrepresenting the pricing of mortgage-backed securities. His attorney said his behavior is merely the reflection of the Jefferies sales culture.
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Report: BofA, Goldman could pay $16 billion over MBS claims

Another two big banks up next to settle with the FHFA?
February 11, 2014
If the way settlements are headed continues, an additional $16 billion in penalties will be paid by banks, including Bank of America and Goldman Sachs over mortgage-backed securities sold to Fannie Mae and Freddie Mac.
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What is driving positive earnings for Fannie, Freddie?

FHFA explains the not-so-obvious answer
February 5, 2014
Fannie Mae and Freddie Mac reported combined net income totaling $39.2 billion in the third quarter of 2013, buoyed by each GSE releasing a substantial portion of its Deferred Tax Asset valuation allowance in 2013. But that alone won't explain the good news.
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NY Court signs off on $8.5B BofA settlement over pooled mortgages

Ends nearly three-year battle
January 31, 2014
After more than two years of legal wrangling, a New York judge signed off on a controversial $8.5 billion settlement between Bank of America and The Bank of New York Mellon over toxic mortgage securities. Investors spent the past two years trying to stop the deal, suggesting it ignored their interests.
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Fed taper continues, acquisition cuts go deeper

FOMC pulls back another $10 billion in monthy purchases
January 29, 2014
The Federal Open Market Committee meeting minutes reveal the Federal Reserve will continue to taper monthly asset purchases, reducing its acquisitions by another $10 billion per month.
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