Secondary

Castle & Cooke Mortgage launched a consumer-direct unit that is focused on capturing repeat business from its existing servicing customers.

Late payments on securitized commercial mortgages rose again in March, led by industrial and retail property loans.

Freddie Mac has obtained two new insurance policies under its Agency Credit Insurance Structure program.

Fourteen institutional investors represented by the law firm Gibbs & Bruns are supporting the Lehman Brothers bankruptcy plan administrator's offer to settle certain securitized mortgage repurchase claims with securities' trustees.

Risk management concerns were responsible for a five-percentage-point reduction in bank non-qualified mortgage lending last year.

Consolidation among large independent mortgage bankers is likely as several lack the financial wherewithal to deal with the changing environment, Moody's said.

PHH Corp. President and CEO Glen Messina will step down in June at the company's annual meeting.

Private market mortgage insurance companies should better align their buyback and rescission policies with those of Fannie Mae and Freddie Mac, the Federal Housing Finance Agency said.

A bipartisan group of senators told Mel Watt, the regulator who oversees Fannie Mae and Freddie Mac, that he shouldn't allow the companies to recapitalize without congressional approval.

Deutsche Bank is finding that there just isn't enough soured U.S. mortgage debt anymore.