Secondary

Under the settlement, Ally will pay $1.95 billion in cash to the ResCap bankruptcy estate, plus $150 million in insurance proceeds.

The deal was made possible by a mortgage-backed security pass-through structure that has been growing in popularity among housing finance agencies in the past year.

Freddie Mac is starting to securitize modified single-family loans.

Treasuries fell, pushing 10-year note yields above 2% for the first time since March on Wednesday.

John Stumpf believes the government-sponsored enterprises need to be retained in some form because the guarantee they provide is important to investors.

FeatherStone Investment Group has begun underwriting and structuring its first rental income securitization.

Mortgage lenders are still nervous about put-back risk and unresolved regulatory issues, which is holding back the lending and the housing recovery.

Toll Brothers reported fiscal second-quarter earnings that beat analyst estimates as demand jumped and orders reached the highest level in seven years.

UBS AG was ordered to face a whistleblower lawsuit by a former commercial mortgage-backed securities strategist who said he was fired for telling supervisors he was being pressured to publish misleading reports.

Fannie Mae plans to sell $2 billion of commercial-mortgage bonds issued before the credit market seizure as it seeks to reduce holdings of illiquid assets.