Servicing

The six regulatory agencies working on the risk retention rule are considering a proposal to extend the comment period until August 1, according to industry officials.

Freddie Mac said Monday it expects its upcoming second offering of its multifamily structured pass-through “K” certificates backed only by seven-year multifamily mortgages to be a bit bigger than its first, and separately noted an executive personnel change in its multifamily area.

Morgan Stanley and Bank of America have begun marketing a $1.2 billion CMBS deal.

Commercial real estate mortgage banking firm CW Financial Services has enhanced its commercial real estate debt platform.

The Basel Committee on Banking Supervision finalized its review of the Basel III standard for capital treatment for counterparty credit risk in bilateral trades and plans to modify the risk weighting of credit valuation adjustment (CVA), which is the risk of loss caused by changes in the credit spread of a counterparty due to changes in its credit quality.

Paragon published its half-year results for the year ended March 31 and said it plans to return to the securitization market again.

Figures released by the U.S. Treasury show that taxpayers collected a total of $12.9 billion in May from the investment and sales of the agency’s mortgage-backed securities (MBS) portfolio.

Ocwen Financial Corp., a top ranked specialty servicer, made it official over the weekend, agreeing to buy Litton Loan Servicing from Goldman Sachs for $264 million in cash, plus extras.

U.S. Bancorp Chief Executive Richard Davis should be happy that his company will escape having to pay a hefty fine for sloppy servicing practices, a fate that likely awaits the nation's top five mortgage servicers.

Mortgage bankers funded $351 billion of new residential loans in the first quarter, a 35% decline from a robust 4Q, but a slight gain from the year ago period, according to new figures compiled by National Mortgage News.