Secondary markets

The American Securitization Forum is urging mortgage servicers and trustees to reject offers that the city of Richmond, Calif., is making to buy mortgages out of private trusts at deeply discounted prices or face eminent domain proceedings.

Mortgage Industry Advisory Corp. as exclusive representative of an unnamed West Coast mortgage company is offering for sale another package of mortgage servicing rights.

Comparative data on servicers of securitized residential mortgage loans show RMBS investors are likely to shoulder higher carrying costs due to long and lengthening completed foreclosure timelines.

Investors Thursday seemed to think Annaly's earnings didn't look too bad, especially considering that its mortgage investments—as its CEO describes them—can be “somewhat of a pain in the…”

We're hearing from the NAR who recently wrote to the assistant secretary of housing about the FHA certification and recertification process for condos.

Fannie Mae is reducing its loan loss reserves and reporting strong profits but it has no intention of relaxing its underwriting standards to increase purchase mortgage volume.

The company is under investigation for practices tied to sales of mortgage-backed bonds that the Justice Department has already concluded broke civil laws.

Fannie Mae and Freddie Mac, which policymakers are trying to unwind, have operated with explicit affordable housing goals for more than 20 years.

Over the past few months, Fannie has raised the prices it pays to community-based lenders for mortgage loans.

Jumbo lender Redwood Trust has completed the approval process to a Fannie Mae and Freddie Mac seller/servicer.

Freddie purchased $50.3 billion in participation certificates during the first six months of 2013, compared to $15.6 billion in the same period in 2012.

Goldman Sachs, Jefferies and Citigroup have lined up a $1.2 billion conduit CMBS deal that is backed by 84 commercial mortgage loans secured by 132 properties.

Banc of California reported better-than-expected quarterly earnings that reflected recent acquisitions.

Passport Capital sold its entire portfolio of mortgage debt backed by the U.S. government in the second quarter.

The latest round of 30-year conventional mortgage-backed securities prepayment speeds were 9% slower than the previous month.

President Obama ended his administration's self-imposed blackout regarding housing finance reform on Tuesday, finally endorsing a specific approach after effectively punting on the issue more than two years ago.

Freddie Mac posted earnings of $5 billion in the second quarter, up from $4.6 billion in the first quarter.

Given the spike in interest rates over the past couple of months, even a small increase in application volume of 0.2% on a seasonally adjusted basis for the week ended Aug. 2 could be considered as good news.

Ginnie Mae has started providing loan-level data on newly issued single-family MBS and soon investors will be able to receive monthly updates on the performance of the underlying loans.

It sounds like people are optimistic about Freddie Mac’s recent risk-sharing transaction even though they have some questions about them.