Secondary markets

A Texas community bank is leading a lawsuit against the Consumer Financial Protection Bureau.

Lenders of all different sizes continue to receive buyback requests from Fannie Mae and Freddie Mac—sometimes on loans that are upwards of five years old.

Mortgage cases are shifting to become more fact-intensive, rather than legal-intensive, meaning investors’ attorneys need witnesses to explain the circumstances in a case.

A 2006 commercial mortgage-backed security deal collateralized by two very different properties in Hawaii and New York, respectively, has ended up affected by stressors that have increased its Fitch loss expectations and caused the rating agency to downgrade one investment grade class.

The lack of retail and office space in East and West Africa is constraining business growth in both areas across a continent that is rapidly becoming more urban.

Suzanne Hutchinson will retire at the end of the year from her post as executive vice president of the Mortgage Insurance Cos. of America.

Operation Twist, which involves sales or redemptions of shorter-term securities and investments in an equal amount of longer-term securities, was slated to end this month, but the Fed instead has chosen to continue it through yearend.

Redwood Trust soon will market another new jumbo MBS deal—this one, like the others—dominated by California mortgages which comprise just over 49% of the bond.

U.S. consumers owed $8.995 trillion on their residential loans at the end of March—the lowest debt figure recorded in almost five years.

PHH Mortgage said it will no longer accept new FHA Streamline refinancings from correspondent lenders unless it is already servicing the loan, according to a memo provided to National Mortgage News.

Commercial banks reported 25% growth on an annualized basis in their loan portfolios for the week ending June 6, led by a 75% annualized increase in single-family mortgages ($22 billion).

The Securities and Exchange Commission has appointed Thomas Butler as director of the agency's new office of credit ratings.

Structured finance investors would prefer to rely on fewer sources of pricing for tracking deals, according to 107 investors in the industry surveyed by Principia Partners.

It doesn’t sound like agency mortgage repurchase requests are going to end any time soon, even though many originators are doing their best to batten down the hatches. Instead, word is these requests continue to increase.

THE RAJ DATE SAGA CONTINUES: We’re told that the National Association of Mortgage Brokers is very concerned with the recent broker bias comments from CFPB deputy director Raj Date. One NAMB official said the trade group “has sent a letter to the CFPB regarding the comments and have formally requested a meeting to discuss."

Greece's RMBS sector would be one of the victims of the country's exit from the euro zone, which appears increasingly likely in the run-up to June 17 elections between parties supporting and opposing austerity measures, a condition of the country's bailout.

Franklin Credit Management Corp. has closed on the acquisition of a mixed performing and nonperforming loan portfolio with an aggregate unpaid principal balance of approximately $100 million.

The one company to consistently aggregate jumbo loans for securitizations since the downturn has received an originator assessment from Moody’s Investors Service that finds it is “above average.”

The Department of Housing and Urban Development’s Section 184 mortgage is the most successful loan ever to target American Indians.

As wards of the same federal conservator, Fannie Mae and Freddie Mac rarely diverge these days, but when they do it speaks volumes about where the two companies are headed.