Secondary markets

New rules proposed by international banking regulators would severely reduce, and possibly eliminate, banks' profitability in trading bonds that finance everything from home loans and apartment mortgages to auto loans and student debt, according to JPMorgan Chase & Co.

BlueVirgo Capital Management is marketing $106 million of bonds backed by tax-lien certificates on property in New Jersey and Florida, according to Kroll Bond Rating Agency.

Five Oak Investment Corp, a real estate investment trust that manages a portfolio of agency and nonagency RMBS, is back with a second securitization this year, according to Kroll Bond Rating Agency.

Freddie Mac Chief Executive Donald Layton insisted Tuesday that the government-sponsored enterprise showed "very strong fundamentals" in the third quarter, despite reporting a $501 million loss due to an accounting mismatch with its use of derivatives.

American International Group Inc. CEO Peter Hancock dismissed activist investor Carl Icahn's proposal to split the company into three insurers, saying a division would limit earnings diversity and reduce the value of some tax assets.

Freddie Mac posted a third quarter loss of $501 million, its first quarterly loss in four years, but the government-sponsored enterprise will not request a draw from the U.S. Treasury.

The government-sponsored enterprise is working to rebuild partnerships with church organizations and housing financing agencies as part of a broader effort to make owning a home affordable for low- and moderate-income families.

Canadian Imperial Bank of Commerce said there's "no merit" to a lawsuit filed by a unit of Cerberus Capital Management LP accusing the bank of defaulting on payments tied to U.S. real estate.

Deutsche Bank is exiting agency residential mortgage-backed securities trading as part of a larger strategic plan announced Thursday that cuts thousands of positions in numerous business lines worldwide.

The administration apparently intends to leave office without addressing Fannie Mae and Freddie Mac's capital bases and therefore the tight credit conditions.

Radian Group's private mortgage insurance subsidiary pulled back from certain pricing discounts that have driven competition in recent months in that business.

Nobody thought it would be pretty, but last quarter's results were even worse than expected, and low fee revenue is largely to blame. Trading and mortgage banking were particularly bad, and few of the big banks managed to offset the declines.

Freddie Mac is preparing its fourth offering of bonds offloading exposure to actual losses on mortgages that it ensures, according to Fitch Ratings.

The first securitization of single-family rental properties appears to be at risk of a maturity default.

The commercial real estate loans that underlie commercial mortgage-backed securities posted a modest increase in price from August to September, according to DebtX.

Residential mortgage-backed securities servicers are improving their processes despite generally adverse market conditions, Fitch Ratings found.

From thrift deregulation to government domination, the mortgage business is prone to dramatic shifts. Here are 10 people who share the credit, or the blame, for major industry changes.

Fannie Mae's latest offering of Connecticut Avenue Securities, its last of the year, is the first to offer exposure to actual losses on residential mortgages that it insures.

Housing finance reform in Congress is stalled, but Fannie Mae and Freddie Mac (often under pressure from their regulator) are forming partnerships, developing new products and finding ways to share risk with the private sector to correct flaws in the housing system.

Over a third of appraisals during the third quarter featured property quality or condition ratings that did not match previous ratings, according to an Oct. 19 report from Platinum Data Solutions.