Secondary markets

GreenPoint Mortgage Funding was sued over about $400 million in losses on mortgage-backed securities by investor trustee U.S. Bancorp.

The spike in interest rates last week affected both purchase and refinance application volume, as the total number of loan applications submitted the week ended July 5 declined by 4% on a seasonally adjusted basis from the previous week.

The jumbo residential mortgage-backed securitization is collateralized by a $440 million pool of First Republic Bank-originated and serviced loans.

We're hearing from law firm ReedSmith that the upcoming 100-mile Pennsylvania restriction on how far a mortgage originator may live from his or her office raises some questions.

Wells Fargo plans to issue a $1.4 billion conduit transaction called Wells Fargo Commercial Mortgage Trust 2013-LC12.

As a member of RealtyTrac Network, Laffey Fine Homes will have access to RealtyTrac’s data sets.

Fannie Mae plans to sell about $1 billion of home-loan bonds without U.S. backing from its holdings.

U.S. bond yields suggest investors anticipate the Federal Reserve will announce a reduction in asset purchases at its September policy meeting, according to JPMorgan Chase’s Heather Loomis.

The National Low Income Housing Coalition has sued the Federal Housing Finance Agency for failing to fund the National Housing Trust Fund that Congress created in 2008 to finance affordable housing.

Buried in the Corker-Warner reform bill are two provisions that would give the Federal Home Loan banks an opportunity to play a major role in the new housing finance system.

The offering, Freddie’s 11th K deal this year, is backed by 87 recently originated multifamily mortgages.

The widening in structured finance spreads is not yet a cause for credit concerns, according to Standard & Poor’s.

A Credit Suisse report shows the rate of 30-year conventional prepayments dropped 10% in the latest month.

Blackstone Group is preparing to expand its bet on the housing recovery by lending to other landlords.

Hedge fund firm Perry Capital sued the Treasury Department claiming the government’s seizure of all profits from Fannie Mae and Freddie Mac is illegal and has destroyed shareholders’ holdings.

Some are buying nonperforming loans to get a hold of properties in states with longer foreclosure timelines early on rather than waiting for foreclosure.

Royal Bank of Canada and Canadian Imperial Bank of Commerce launched their covered bond programs under the new covered bond framework in Canada.

Although details of the House legislation are still being worked out, it is likely to eliminate the government-sponsored enterprises and move towards a fully private system.

The Federal Home Loan Bank of Atlanta appointed one new member to its Affordable Housing Advisory Council.

Two $1 billion losses affecting private-label residential mortgage-backed securities that were taken due to a change in reporting methodologies as loans with principal forbearance changed hands may be the worst of these types of losses.