Secondary markets

First Tennessee Bank, Memphis, ended June with $2.7 billion of warehouse lending commitments on its books, an all-time high for the bank.

Recent delays in key secondary market regulations are among hurdles holding back the long-awaited return of the jumbo market, which some say is making some progress, but others think is too constricted by the current limits of secondary market outlets to reach a large scale.

Even before the government-controlled Ally Financial threw its mortgage division into Chapter 11 bankruptcy protection, rumors were circulating this spring that the “bank” end of the company would exit the warehouse lending arena.

Radian is benefiting from the changing competitive environment in private mortgage insurance as two of its competitors went into run-off in the third quarter last year.

Freddie Mac expects to price this week its ninth so-called K multifamily securities offering for the year.

Investment banks’ researchers generally indicated that agency mortgage-backed securities prepayments overall increased modestly in the latest month.

The European Central Bank's (ECB) governing council has announced how the mandatory provision of loan-by-loan ABS data will be introduced into the securitization single loan-level data repository known as the European DataWarehouse.

Regional and midtier banks are seeing rising repurchase demands from government-controlled secondary market giants.

The Consumer Financial Protection Bureau is planning stronger disclosure requirements for reverse mortgages as more evidence emerges that senior citizens are using the product without fully understanding its main features and risks.

The U.K.'s Financial Services Authority has "a number of investigations concerning Libor" beyond the case that resulted in a record fine levied against Barclays Plc last week, the agency's acting head of enforcement said.

A decline in applications for government-insured mortgage loans helped to drag down total loan application volume by 6.7% on a seasonally adjusted basis for the week ended June 29.

Ally Bank is telling clients that it is exiting the warehouse lending business but it will give them time to secure new lines of credit from other lenders.

DebtX priced 55,510 commercial real estate loans with an aggregate principal balance of nearly $766 billion that were collateral for securitizations in May.

KossREsource.com, an online information portal for the commercial real estate industry, has gone live. Among the features of the site is an extensive database of debt and equity financing alternatives which is user driven.

Spanish and Portuguese banks are leading European lenders in buying back their own mortgage-backed securities at distressed prices to bolster capital and stockpile eligible collateral for European Central Bank loans.

The TBA market is widely viewed as an essential element of a functioning mortgage market, serving as both the ultimate source of liquidity and a crucial pricing benchmark for housing finance.

Three industry executives attending the Mortgage Bankers Association’s National Secondary Market Conference in New York this year weighed in recently on the government and private secondary mortgage markets. And in the excerpt that follows, they discuss how the transition away from the former toward the latter might someday take place.

An American Securitization Forum report suggests market participants agree combining Fannie Mae/Freddie Mac mortgage-backed securities could eliminate pricing discrepancies between the two types of agency MBS.

Attorney Robert Maddox, who represents Ally Financial, calls the landmark foreclosure settlement earlier this year "a Trojan horse for the government to fix perceived problems in mortgage servicing" but others dispute the view that the punishment was too severe.

Fannie Mae’s mortgage purchases rebounded 30% in May after acquisitions plummeted 45% in April, while Freddie Mac released numbers showing a similar rebound in mortgage purchases for May.