Secondary

Bank of America Corp. should face Securities and Exchange Commission claims over $855 million in mortgage-backed securities, said a judge who last week advised that a Justice Department complaint over the same securities should be thrown out.

Regulators are going against Congressional intent in their latest "qualified residential mortgage" proposal, former Rep. Barney Frank said.

The Federal Home Loan Banks' Office of Finance said members are borrowing more, yet net income for the system fell from the previous year.

The lender can experience problems selling a loan that loses qualified mortgage rule's protection. The lender also could be stuck in a vulnerable position if that loan ultimately defaults.

Trepp has launched TreppTrade Quick Analysis, a free tool that enables banks and commercial real estate companies to calculate cash flows and price yields on commercial mortgage-backed securities.

Wells Fargo ended its partnership with Douglas Elliman and eight others it had last summer. The new partnership is with The Federal Savings Bank.

The allegations centered on the broker and original lender’s conduct in connection with a payment of a yield-spread premium.

Senate Banking Committee leaders said Friday they would hold a panel vote on April 29 to reform the housing finance system.

A proposal by the Financial Industry Regulatory Authority designed to reduce counterparty risk in the forward market for mortgage bonds troubles some market participants, who say that the measures could have the opposite effect.

Bank of America Corp. should win dismissal of a U.S. Justice Department lawsuit accusing it of misleading investors about the quality of loans tied to $850 million in mortgage-backed securities, a judge said.