Compliance & Regulation

In another sign of strong demand by investors for nonperforming residential mortgages, the asset class is edging closer to more rated, public securitizations — a rarity in this largely opaque market.

Fitch Ratings issued an industrywide report Tuesday on U.S.-based commercial mortgage-backed securities. The report highlights positive signs of progress but also says the sector has, "room for improvement."

New York-based real estate investment trust Apollo Commercial Real Estate Finance has completed $190 million in investments that include the recent acquisition of a minority ownership in KBC Bank Deutschland AG.

The Mortgage Bankers Association continues to push back against regulations stemming from the financial crisis, as the industry's biggest lobbying group continues pushing for regulatory relief to bolster the housing market — and boost profits for its members.

The California Housing Finance Agency is offering an additional $6,500 in down payment assistance to first-time homebuyers who qualify for its CalPLUS Conventional program.

Starwood Waypoint Residential Trust announced on Monday a $150 million private offering of convertible senior notes due 2017.

Springleaf Holdings has sold $1 billion in securitized real estate loans as part of a previously announced mortgage liquidation plan.

B of A mortgage strategists are concerned these underserved borrowers will keep housing market activity at "anemic levels."

DocMagic, a document provider for the mortgage industry, said that it has launched a version of its service through Liquid Logics' cloud-based loan origination system.

MountainView Management Co. plans to buy nonprime mortgages made to borrowers with credit scores in the mid to low-600s, maximum 80% loan-to-value ratios and balances as high as $2.5 million.