Secondary

While Fitch's February CMBS delinquency data showed relative stability overall compared to the previous month and a year ago, there were some variations in sub-markets such as a high level of 60-day late payments in Atlanta office loans.

Moody's Investors Service has downgraded Ocwen Loan Servicing's rating as a special servicer to 'SQ2-' from 'SQ2'.

The outstanding amount of home mortgages as of 4Q11 fell $40 billion quarter-over-quarter and $240 billion year-over-year to $10.3 trillion, Standard & Poor's analysts noted, citing the Federal Reserve flow-of-funds data.

In one of the most ambitious lawsuits of its kind so far, Space Coast Credit Union has filed a civil damage claim against several investment banking firms that sold $150 million of mortgage-backed CDOs to Eastern Financial Florida Credit Union, which failed in 2009, and was then acquired by Space Coast.

Freddie Mac executives believe the GSE has passed an important milestone regarding the firm's 2005 to 2008 books of business that could lead to a much stronger financial performance in its single-family business going forward.

It would appear that certain politicians - both left and right - look at guarantee fees and say to themselves: Hey, here's a way to raise some revenue and no one will blame us for taxing mortgage lenders. Well, guess again.

While Fannie Mae continues to bleed red ink like a busted crankcase, Freddie Mac turned a profit in the fourth quarter. Overall, it earned $1.5 billion -- but then had to give its "Godfather" (the U.S. Treasury) $1.7 billion in protection money, er, I mean, dividends. Sounds a bit screwy to me but then again the past 10 years in this industry have been screwy.

The Federal Housing Finance Agency Friday declared that the new CEOs of Fannie Mae and Freddie Mac — whoever that person might be — will earn no more than $500,000 per year, a major reduction in pay from the current job holders.

Freddie Mac posted net "comprehensive" earnings $1.5 billion in the fourth quarter, but must turn around and pay the U.S. Treasury a $1.7 billion dividend, which means it ultimately lost money during the period.

Old Republic International Corp.'s liquidity is "moderately tighter than previously expected," warned Fitch Ratings. This places greater uncertainty on ORI's ability to fund a potential debt acceleration.