Servicing

The residential mortgage-backed securities and related collateralized debt obligation sectors lead the pack in both realized and expected future credit losses from U.S. structured finance issuances, according to Fitch Ratings. But it added commercial MBS are expected to experience losses at a lower level than many may have anticipated.

A bipartisan group of senators, including Bob Corker (R-Tenn.), Mike Crapo (R-Idaho), Kay Hagan (D-N.C.), and Charles Schumer (D-N.Y.), Wednesday sponsored new legislation that would set up a covered bond framework in the U.S.

Home prices, which have fallen nearly 6% over the past four quarters (ending June 30), could fall another 3.6% by the second quarter of next year, according to analysts at Fiserv, which owns and generates the Case/Shiller house price indexes.

Foreclosure filings increased 7% in October from the prior month with servicers and banks recording default notices, scheduled auctions, and lender repossessions on 230,678 U.S. properties, according to new figures compiled by RealtyTrac.

Sen. Bob Corker, R-Tenn., Wednesday introduced legislation that would reduce Fannie Mae and Freddie Mac's share of the mortgage market by "at least 10%" per year.

The House Financial Services Committee is slated to vote next Tuesday (Nov. 15) on a bill that would suspend the compensation packages of top Fannie Mae and Freddie Mac executives.

TransUnion data show a trend of progressive, six-quarter improvement in the performance of borrowers 60 days or more past due reversed in the third quarter, increasing the national mortgage delinquency rate from 5.82% in the previous quarter to 5.88%.

MarketAxess, a U.S. and European fixed-income electronic trading platform, has made an initial foray into U.S. nonagency residential and commercial mortgage-backed securities markets that appears to be drawing some interest.

Ginnie Mae reported a $1.2 billion profit from its secondary market operations in fiscal year 2011 — up 84% from FY 2010 — due to lower loss provisioning.

When voting for the next president in the 2012 election, about 70% of Americans said how the candidate plans on addressing the current housing crisis is going to dictate their final decision, according to a Move Inc. survey.