MBS

Jesse Litvak was sentenced to two years in prison and fined $2 million after he was convicted a second time for lying about mortgage-backed securities prices.

Agency mortgage-backed securities issuance increased in 2016, rising to $1.6 trillion from $1.3 trillion, while nonagency mortgage securitization issuance decreased.

A $165 million cash settlement has been reached in a class-action lawsuit that alleged investors were misled about the safety of mortgage-backed securities comprised of loans originated by now-defunct subprime lender NovaStar Mortgage Inc.

Jefferies Group has added a third lender to its latest securitization of a mortgage warehouse facility.

Former Jefferies LLC managing director Jesse Litvak "lied to his customers" about the prices of mortgage-backed securities, a prosecutor told jurors as the U.S tries for a second time to win a conviction that sticks.