Secondary

Fannie Mae veteran Karen Pallotta has joined Redwood Trust's board of directors. Pallotta's recent role at Fannie was as executive vice president of the single-family credit guaranty business, which she assumed during the height of the financial crisis.

The Federal Housing Administration is facing severe challenges next year as some pressure it to lower premiums to deal with new competition from the government-sponsored enterprises, even while its insurance fund remains weak and it faces added scrutiny from GOP lawmakers.

Seer Capital Management is getting more bullish on U.S. commercial real estate. The $2.1 billion hedge fund firm, started by ex-Deutsche Bank AG executive Phillip Weingord, is planning a fund dedicated solely to buying the riskiest pieces of bonds backed by commercial properties, according to a presentation, a copy of which was obtained by Bloomberg News.

Sen. Barbara Boxer, D-Calif., along with 17 other Democratic senators, is urging Department of Housing and Urban Development officials to consider a reduction in FHA mortgage insurance premiums.

Yields on government-backed mortgage securities narrowed to the least relative to benchmark debt in more than two years, cushioning the blow of a slump in Treasuries for homebuyers.

The expiration of the Terrorism Risk Insurance Assistance program on Dec. 31 will have "repercussions" for the economy, according to Fitch Ratings.

Commercial and residential secondary-market platforms are under pressure to shift from loss-leader strategies to profitability as they enter their second year in a sector that's now more established and competitive.

The government conservatorship of Fannie Mae and Freddie Mac was never meant to authorize lasting control over the housing sector, according to one of the people who advised Congress on the Housing and Economic Recovery Act.

Mortgage rates declined, keeping borrowing costs at the lowest levels since May 2013.

JPMorgan Securities is arranging a $353 million RMBS securitizing 677 prime pre-crisis mortgages originated by Merrill Lynch Credit Corp.