Secondary

The discussion in a number of panel sessions at the Mortgage Bankers Association National Secondary Market Conference in New York on May 6 through 9, was if, let alone when, private capital would return to the industry. In the exhibit hall, much of the vendor focus was on technology and compliance which would ease that transition. Nary a wholesaler or correspondent aggregator was exhibiting.

Residential lenders issued $36.4 billion of Government National Mortgage Association MBS in April, a 25% spike from the prior month, according to new figures released by the agency.

If the amendment were to become law, it would impact the posture of the Justice Department in any future negotiations with smaller mortgage servicers that did not participate in the recent settlement with the five largest servicers.

Freddie Mac's new chief executive, Donald Layton, urged critics to keep an open mind about the troubled government-sponsored enterprise and pledged to focus on "the nuts and bolts" to improve efficiency.

Lenders and investors at this week’s secondary market conference in New York were interested in a question that’s been on target for at least the past three years: Where is the nonconforming secondary market? When will it show up again? When should mortgage packagers start their engines?

The Federal Reserve Bank of New York has sold the entirety of the TRIAXX CDO holdings from its Maiden Lane III portfolio to Merrill Lynch, Pierce, Fenner & Smith after a competitive bid process.

Freddie Mac named Donald Layton, who previously held executive positions at E*Trade and Chase, its CEO.

A Houston family has been sentenced to federal prison for running a multi-million dollar mortgage fraud scheme that resulted in at least 70 homeowners defaulting on their mortgage payments.

Industry veteran Mark Korell, who four years ago joined the mortgage division of JPMorgan Chase, has left the company, according to colleagues who are close to him.

Newcastle Investment Corp. is “very optimistic” it will participate in a big investment in mortgage servicing rights with other entities that its manager oversees.