Secondary

The delinquency rate on commercial mortgage-backed securities dropped sharply in January, thanks to the resolution of New York's Stuyvesant Town loan, according to Trepp.

Morgan Stanley will pay $63 million to settle a series of government lawsuits claiming the bank misrepresented securities it sold to banks that later failed.

Fannie Mae and Freddie Mac unveiled an appeals process Tuesday that will allow an independent arbitrator to resolve disputes between lenders and the government-sponsored enterprises over loan repurchase demands.

Lenders argue that the GSEs would be better off buying more loans that are already insured, rather than transferring credit risk after holding them for a time. But Freddie Mac's Kevin Palmer says certainty of reimbursement is more important than the timing of risk transfers.

Clayton Holdings has been selected by Angel Oak Capital Advisors to be the representation-and-warranty reviewer for a $150.4 million private-label securitization of nonprime loans.

Loan originations for commercial and multifamily properties climbed in the fourth quarter compared to last year, the Mortgage Bankers Association said.

The Federal Housing Finance Agency's Duty-to-Serve rule must include a substantive commitment from the government-sponsored enterprises to purchase chattel loans.

United Guaranty's spinoff from American International Group will result in changes to its capital structure that could shake up the competitive landscape in the private mortgage insurance market.

Credit default swap spreads have widened substantially for MGIC Investment Corp. since the start of the new year, reflecting changes in policy pricing, according to a report from Fitch Solutions.

Radian Group reported net income of $287 million, compared with $960 million for 2014, but that year's results were boosted by a tax allowance reversal.