Secondary

The latest securitization of reperforming residential mortgages offers investors less protection against future losses than the previous deal, and has earned correspondingly lower safety scores from Fitch Ratings.

Investors punished Nationstar Mortgage, sending shares down more than 10% Wednesday, down $3.15 a share to $27.96 a share, after the nonbank servicer announced a capital raise of roughly $500 million that will dilute existing shareholders.

The leader of the Senate Banking Committee said he'd rather leave Fannie Mae and Freddie Mac in U.S. conservatorship than pass a bill that includes explicit government support for the housing market.

With mortgage giant Freddie Mac finding increased demand this week in the nascent market for its risk-sharing securities, competitor Fannie Mae said it was taking steps to draw more buyers for its own notes.

MGIC Investment Corp. former Chief Executive Officer Curt Culver, who presided over an 85% stock-price decline during his tenure, received compensation valued at about $8 million for his last full year in the top job.

Commercial mortgage-backed securities servicers have held on to real-estate owned properties for longer than usual, which could lead to a reversal in the declines in liquidations seen recently, according to a Fitch Ratings study.

There are a lot of consumer, investor and regulatory complaints about how the nonbank servicing firm does business, but Morgan Stanley researchers offer reasons why certain investors and borrowers could benefit from sticking with Ocwen.

If you thought the subprime mortgage-backed security was an artifact of the past, think again. Nomura Holdings and Angel Oak Capital have a deal that may help revive the part of the market that went bust during the crisis. Their success could encourage more banks to dip their toes back into riskier mortgages.

KeyBank Real Estate Capital has teamed up with Hunt Mortgage Group to create a commercial mortgage servicing group and asset management department.

Lyle Gramley, the former chief economist of the Mortgage Bankers Association who prior to that was a Federal Reserve governor who helped battle a recession and inflation of more than 10% during Pres. Ronald Reagan's first term in the 1980s, has died. He was 88.