Secondary markets

PHH Corp. Tuesday commenced a tender offer to purchase for cash up to $300 million aggregate principal amount of its $450 million outstanding amount of 9.25% senior notes due 2016.

First Financial Network Inc. is offering two loan portfolios from two unnamed sellers.

The Obama administration will be calling on Congress to pass legislation that will allow Fannie Mae and Freddie Mac to refinance underwater loans in private label securities.

There are questions about how the government-sponsored enterprises’ risk sharing bonds may be treated under Basel III international accounting standards that could affect bank investors’ appetite for them.

LenderLive Network has been approved by Ginnie Mae as an issuer of the agency’s mortgage-backed securities.

HSBC Holdings said possible damages from a lawsuit filed by a U.S. regulator over improperly sold mortgage-backed securities could cost the bank as much as $1.6 billion.

A loan scenario posted on the Mortgage Grapevine is looking for a rate and term refinance.

Ambac Assurance’s segregated account won court approval to make cash payments of more than of 25% of on certain policies.

Freddie Mac said that its 50th offering of multifamily mortgage-backed structured pass-through certificates since it began the program in 2009 is in the pipeline.

The National Cooperative Bank has purchased a $7.25 million loan participation in a $12.25 million loan facility with Alaska USA FCU.

AAA-rated junior classes in new commercial mortgage-backed securities transactions are getting thinner.

Beazer Homes USA on a continuing operations basis took a 22-cent basic earnings-per-share loss for the third quarter of fiscal year 2013 ending June 30.

Allstate’s 2011 lawsuit against Goldman Sachs over the alleged fraudulent sale of residential mortgage-backed securities has been discontinued.

The Prestwick Mortgage Group said it is exclusively brokering on behalf of an unnamed seller a $154 million portfolio of Ginnie Mae II mortgage servicing rights.

There are 1,031 Ginnie Mae loans and 617 Fannie Mae loans in the portfolio, and the majority of the loans are no cash out refinances.

A unit of Banc of California has agreed to pay $10 million for a mortgage business owned by one of its managing directors.

Higher rates, thinner margins and changing in secondary market appetites are driving retail lenders toward multiple loan buyers and potential mergers.

Higher rates, thinner margins and changing in secondary market appetites are driving retail lenders toward multiple loan buyers and potential mergers.

Fabrice Tourre, the former Goldman Sachs Group vice president on trial for his role in a failed $1 billion investment, was found liable on six of seven claims by a jury in Manhattan.