Risk management

Freddie Mac has taken out another reinsurance policy that transfers risk of default on mortgages it insures.

Fannie Mae and Freddie Mac unveiled an appeals process Tuesday that will allow an independent arbitrator to resolve disputes between lenders and the government-sponsored enterprises over loan repurchase demands.

Lenders argue that the GSEs would be better off buying more loans that are already insured, rather than transferring credit risk after holding them for a time. But Freddie Mac's Kevin Palmer says certainty of reimbursement is more important than the timing of risk transfers.

Clayton Holdings has been selected by Angel Oak Capital Advisors to be the representation-and-warranty reviewer for a $150.4 million private-label securitization of nonprime loans.

United Guaranty's spinoff from American International Group will result in changes to its capital structure that could shake up the competitive landscape in the private mortgage insurance market.

By implementing a platform designed specifically to support quality control, lenders can continuously prepare for an audit while simultaneously executing on everyday loan quality tasks.

WinWater Home Mortgage's first prime jumbo securitization of the year is backed by a mix of 15-year and 30-year loans, according to DBRS.

Freddie Mac has priced a $757 million offering of structured pass-through certificates under its "K Certificates" program that securitizes recently originated multifamily mortgage loans.

Royal Bank of Scotland Group took a surprise $5.2 billion hit to the value of its assets and set aside more money for past misconduct, limiting CEO Ross McEwan's ability to return capital to shareholders.

JPMorgan Chase agreed to pay almost $1 billion to resolve claims by Ambac Financial that it was duped into insuring mortgage bonds backed by shoddy loans, clearing the way for approval of a larger settlement over similar allegations.