Finance

Moody’s Investors Service said it would not give any classes of JPMorgan’s new jumbo securitization its top rating due to weaknesses in its structure.

The Senate has passed a budget resolution along with an amendment that requires a 60-vote minimum before Congress can tap Fannie Mae and Freddie Mac for additional guarantee fees to pay for other government programs.

The downgrades indicate that the bonds have incurred a principal write-down or are interest-only classes that have a notional balance off of a class that incurred a principal write-down, according to the company.

MGIC Investment Corp. remains the Mortgage Industry Equity Composite stock with the most shares changing hands.

Mortgage real estate investment trust Five Oaks Investment Corp., New York, has priced its initial public offering of 4,033,333 shares of common stock at $15 per share.

Since 2009, Fitch Ratings said over 500 CMBS loans—or 5% of previously resolved loans—have made at least one trip back to special servicing to be corrected or liquidated.

Under the three-year mortgage initiative, borrowers can receive an equity loan of up to 20% of the value of a new home, which is payable once the home is sold.

John Caladim and Jon Coleman are the latest additions to Brean Capital’s fixed income team.

Only vulnerable super-senior classes in commercial mortgage-backed securities are exposed to the risk of interest shortfalls that affected the super senior class of Morgan Stanley Capital I, according to Fitch Ratings.

An exclusive $828 million bulk Fannie Mae servicing portfolio with subsequent monthly co-issue flow servicing of $15 million-$20 million per month is up for bid.

Just three of the 17 Mortgage Industry Equity Composite stocks finished trading on Thursday ahead of their Wednesday close, as investors continue to worry about the situation in Cyprus.

The portfolio includes 11,400 loans with a weighted average interest rate of 3.76% overall and a weighted average interest rate of 3.91% on the 30-year fixed-rate product.

The Federal Deposit Insurance Corp. plans to sell $221.1 million of securities backed by residential mortgages held by failed banks.

Freddie Mac and its regulator must do more to ensure loan servicers properly respond to complaints over handling of mortgages held or guaranteed by the U.S.-owned company, according to a government watchdog’s audit report.

The third party originations channels will “grow exponentially” over the next few years, and First Guaranty Mortgage Corp. wants to be ready for that, the company’s top executive said.

Federal Housing Administration may not be able meet increasing demand for multifamily and health care facility loans this summer when the agency is expected to run out of loan commitment authority.

Both Fannie Mae and Freddie Mac closed at $1.08 per share on Wednesday, continuing a spectacular run-up in recent days.

The purchases will remain divided between $40 billion a month of mortgage-backed securities and $45 billion a month of Treasury securities.

JPMorgan is returning to the private label residential mortgage-backed securities market and EverBank has entered it, according to presale reports from Fitch.

A client was told that his loan could not be sold on the secondary market to Fannie Mae or Freddie Mac.