Private-label

PHH Corp. President and CEO Glen Messina will step down in June at the company's annual meeting.

The new entity, called Guaranteed Rate Affinity, will primarily originate and market its services to Realogy's real estate brokerage and relocation subsidiaries.

PHH Corp. has struck a deal with LenderLive to sell its private-label mortgage operations in Jacksonville, Fla., to the Denver-based mortgage services provider.

In the aftermath of enforcement actions, non-executive chair Phyllis Caldwell is directing the special servicer's efforts to diversify its leadership and business model.

JPMorgan Chase is known to eschew selling conforming mortgage loans to Fannie Mae and Freddie Mac, preferring to securitize them in the private-label market.

Invictus Capital Partners, a nonprime mortgage lender based in Washington, D.C., is making its debut in the securitization market.

In order to address lenders' issues with mortgage servicing rights financing, the industry needs to reconsider its typical securitization structures.

PHH is selling its remaining residential mortgage servicing portfolio to the real estate investment trust New Residential.

It's unclear how the new political environment will affect the platform's viability or how investors will view the securities issued on it. The next year could determine the project's success and role reshaping the secondary mortgage market.

Deutsche Bank and Credit Suisse Group agreed to pay a combined $12.5 billion to resolve U.S. investigations into sales of the toxic debt that fueled the financial crisis, putting behind them a major dispute that undermined confidence in the banks and raised questions about their turnarounds.

PHH Corp. plans to close a Buffalo, N.Y.-area office next year, which will result in the layoff of 80 employees, extending the staff reductions already taken in 2016.

Credit Suisse Group must face New York Attorney General Eric Schneiderman's $10 billion lawsuit accusing the bank of fraud in the sale of mortgage-backed securities prior to the 2008 financial crisis, a state appeals court ruled Tuesday in a split decision.

A group of traders in JPMorgan's investment bank has expanded from selling commercial mortgage-backed securities to underwriting loans that are unsuitable for bonds, such as those for big construction projects.

One of latest proposals for reviving the private-label residential mortgage market involves improving communications between issuers and investors.

Some mortgage bond traders tangled up in investigations are moving into the shadow banking system, where their new employers have greater latitude to hire people with blemishes on their records.

President-elect Donald Trump's imminent choice for Commerce secretary is a billionaire investor who swooped in to prop up troubled banks after the financial meltdown. Some members of the banking world, including regulators, may be glad he was picked for Commerce chief instead of Treasury secretary.

Ally Financial has agreed to pay $52 million to settle probes and claims related to its role as the underwriter for subprime mortgage-backed securities in 2006 and 2007.

Shellpoint Partners is preparing its first private-label mortgage securitization in over a year, according to Kroll Bond Rating Agency.

A third securitization of single-family rental properties by Colony American Finance is also the smallest to date for the REIT-affiliated lender.

Barclays is trying to draw a line at $2 billion in penalties to settle a U.S. investigation into its sale of mortgage securities after it received an opening offer that it considered too high.