Secondary

Wellington Denahan is stepping down as chief executive officer of Annaly Capital Management Inc., the largest real estate investment trust that buys mortgage debt.

Treasury Secretary Jack Lew said Monday that the Obama Administration will continue to defend the Dodd-Frank Act amid Republican efforts to water down the law, even as one of its namesakes suggested changes to it may be necessary.

Angel Oak Home Loans in Atlanta has opened multiple branches across the state of Florida as part of its nationwide expansion.

Community Housing Capital in Decatur, Ga., has received a $100 million line of credit dedicated for the development and preservation of affordable housing from a syndicate organized by Morgan Stanley.

JPMorgan Chase & Co. agreed to pay $388 million to settle a suit by investors who claimed the bank misled them about the safety of $10 billion worth of residential mortgage-backed securities, a lawyer said.

As new foreign bank regulations push financial institutions to shed risk-weighted assets, companies like Barclays and RBS are reducing their roles in the mortgage-backed securities market. But reduced competition in this sector is bad for liquidity.

Fannie Mae has priced what it expects will be its final fixed severity deal.

JPMorgan Securities will issue a total of $388 million of securities backed by two pools of jumbo, prime residential mortgages.

Freddie Mac is expanding its risk-sharing efforts meant to protect taxpayers and potentially prepare the $9.4 trillion U.S. home-loan market for its future.

MGIC has discounted single-premium lender-paid mortgage insurance by 11% during the second quarter in order to get market share in this highly competitive product.