Secondary

The Federal Deposit Insurance Corp. has sued Bank of America, Citigroup, JPMorgan Chase and other banks for a cumulative $92 million in damages on mortgage-backed securities, alleging that shoddy appraisals and other underwriting defects tainted their sale.

To address investor preference for Fannie Mae MBS over Freddie Mac bonds, the GSE regulator could create a single instrument that includes loans guaranteed by both, according to speakers at an American Securitization Forum in Washington.

The chief economist for the National Multi Housing Council said the strength of the recovery of the multifamily portion of the commercial real estate market has attracted both debt and equity capital to finance these properties.

Clinton Group Inc., an investment manager which says it is one of the largest shareholders in Radian Group Inc., is calling on the Philadelphia-based private mortgage insurer to put itself up for sale.

A trio of industry executives attending the Mortgage Bankers Association’s National Secondary Market Conference in New York weighed in recently on what they think the building blocks needed for a true return of a nonconforming secondary market are slowly shaping up to be.

The National Credit Union Administration has barred the former CEOs of U.S. Central FCU and Members United Corporate FCU from working for, or with any corporate credit union for their roles in two of the biggest credit union failures.

Efforts to bring back a private-label residential mortgage-backed securities market have not been quick, nor—dare I say—wholly successful at this point.

For No. 3 producer Shelly Logemann, it is being responsive to her clients, plus having the proper work/life balance which is important to her success as an originator.

Wells Fargo & Co. is in the market with a $200 million package of nonperforming residential loans, according to investors that have been briefed about the deal.

MGIC Investment Corp. has filed a lawsuit in Federal Court in Milwaukee against Freddie Mac and its conservator, the Federal Housing Finance Agency, over the pool insurance dispute between the two companies.