Secondary

Fannie Mae is moving closer to launching a pilot program to dispose of some of its nonperforming residential loans.

Mortgage investors, who have been complaining for months about the costs they will bear under the national servicing settlement, presented a list of proposed remedies at a congressional hearing.

The government is sharpening its focus on how mortgage lenders receive the information they use to manage pending and existing loans.

The latest round of monthly 30-year conventional mortgage-backed securities prepayment speeds came in slower than some expected.

Milestone Merchant Partners is circulating an offering book on $30.8 billion of mortgage servicing rights that once belonged to now-defunct Taylor, Bean & Whitaker.

An executive at a real estate investment trust that invests in agency and nonagency MBS said proposed credit risk-sharing opportunities with Fannie Mae and Freddie Mac are among the type of investments his firm would like to buy into.

Any successor to Fannie Mae and Freddie Mac should be structured as a cooperative which would prevent Wall Street firms or megabanks from controlling access to the secondary mortgage market.

A FINRA panel is taking action against Brookstone Securities and three individuals connected to the company, alleging CMO fraud.

Fannie Mae selected its general counsel, Timothy Mayopoulos, to be the GSE’s new president and chief executive, effective June 18.

Stonegate Mortgage, which currently controls $2 billion of mortgage servicing rights, hopes to almost double that amount by yearend.