Secondary

Bank of America this month will try to unload roughly $42 billion of mortgage servicing rights through two different offerings, one involving private label product, according to investors and investment bankers familiar with the bank's auction plans.

Hudson Valley Holding Corp. has completed the sale of $474 million in loans after it was required to reduce its concentrations in commercial real estate and classified loans.

DBRS has rated a rare prime residential private-label RMBS backed by recently originated portfolio of loans and Fitch Ratings has issued an unsolicited rating on the deal.

Only a single borrower is currently delinquent among the roughly 1,800 newly originated prime loans securitized in the handful of Sequoia/Redwood private-label residential mortgage-backed security deals seen since the start of 2010, according to a Fitch report Monday.

Fannie Mae purchased $62 billion of mortgages from its seller/servicers in February, its weakest monthly acquisition volume in four months.

Mortgage loan options available have significantly shrunk during the past few years of the crisis to the point that makes some worry creativity is almost impossible, or simply dead. A closer look at borrower preferences and market data indicate product variations may not necessarily be a dare banks need to stay away from.

If you're looking for the next megabank to exit the mortgage sector the most likely candidate would be Ally Financial, the government owned bank holding company that controls No. 5 ranked servicer GMAC Mortgage/Residential Capital Corp.

A Fitch Ratings pre-sale report is out on the first commercial mortgage-backed security backed by non- and sub-performing assets to come to market in over a decade.

A federal judge rejected an attempt by the Securities and Exchange Commission to compel Wells Fargo & Co. to comply with an administrative subpoena, ordering the agency and the bank to meet to resolve their dispute over documents related to the agency's investigation of nearly $60 billion of residential mortgage-backed securities.

A pilot program can be devised to show principal reduction is a cost-effective way to keep underwater Fannie Mae and Freddie Mac borrowers in their homes and prevent strategic defaults, according to a new report by a research group.