Secondary markets

The National Association of Realtors’ venture capital fund Tuesday named six participating real estate technology start-ups it will be working with.

The concern seems not to be the concept itself so much as its inclusion among larger structural weaknesses in jumbo mortgage-backed securities.

One reason mortgage credit remains tight is because Fannie Mae and Freddie Mac have not spelled out their policies on loan buybacks, according to the chief executive of Wells Fargo Home Mortgage.

DBRS provided its take on recent representation and warranties trends in residential mortgage-backed securities it finds have “the potential to considerably weaken investors’ ability to demand a repurchase.”

Quicken Loans head William Emerson said higher interest rates won’t damp housing’s recovery and his industry will benefit from refinancings if the economy cools.

Stocks in the mortgage industry equity composite came in mixed again, but some did a little better than the Dow, which ended the day down 0.44%.

Most commercial mortgage-backed securities delinquencies peaked at 10.34% in the middle of 2012 and fallen since then, but the 2007 vintage's remain high with an average delinquency rate of 14.6% over the past 12 months, according to Trepp.

VA Loan Captain is providing lender support for Re/Max's Veterans First Program.

Moody’s Investors Service said it would not give any classes of JPMorgan’s new jumbo securitization its top rating due to weaknesses in its structure.

The Senate has passed a budget resolution along with an amendment that requires a 60-vote minimum before Congress can tap Fannie Mae and Freddie Mac for additional guarantee fees to pay for other government programs.

The downgrades indicate that the bonds have incurred a principal write-down or are interest-only classes that have a notional balance off of a class that incurred a principal write-down, according to the company.

MGIC Investment Corp. remains the Mortgage Industry Equity Composite stock with the most shares changing hands.

Mortgage real estate investment trust Five Oaks Investment Corp., New York, has priced its initial public offering of 4,033,333 shares of common stock at $15 per share.

Since 2009, Fitch Ratings said over 500 CMBS loans—or 5% of previously resolved loans—have made at least one trip back to special servicing to be corrected or liquidated.

Under the three-year mortgage initiative, borrowers can receive an equity loan of up to 20% of the value of a new home, which is payable once the home is sold.

John Caladim and Jon Coleman are the latest additions to Brean Capital’s fixed income team.

Only vulnerable super-senior classes in commercial mortgage-backed securities are exposed to the risk of interest shortfalls that affected the super senior class of Morgan Stanley Capital I, according to Fitch Ratings.

An exclusive $828 million bulk Fannie Mae servicing portfolio with subsequent monthly co-issue flow servicing of $15 million-$20 million per month is up for bid.

Just three of the 17 Mortgage Industry Equity Composite stocks finished trading on Thursday ahead of their Wednesday close, as investors continue to worry about the situation in Cyprus.

The portfolio includes 11,400 loans with a weighted average interest rate of 3.76% overall and a weighted average interest rate of 3.91% on the 30-year fixed-rate product.