Secondary markets

Most industry stocks followed the market upward Tuesday morning as the Dow rose more than 200 points.

November was the second best month of last year in terms of new private mortgage insurance written, but new applications received declined from October, according to the Mortgage Insurance Cos. of America.

Commercial mortgages had a mixed year in the securitized secondary markets during 2011 and the outlook for 2012 is that the sector still faces some hurdles but may hold some opportunities.

If anyone thought the GSE 'Buyback Wars' would subside in 2012 all they have to do is read a recent SEC filing from Bank of America, the poster child of repurchase claims. The bank notes that the "criteria by which the GSEs are ultimately willing to resolve claims have changed in ways that are unfavorable to us."

BOFI Federal Bank, San Diego, is ready to kick off its new warehouse lending business, targeting correspondent lenders.

The surge in refinancings this fall pushed Fannie Mae's issuance of mortgage-backed securities to $63.7 billion in November, up 20% from the prior month.

Americans who are able to buy homes are putting down payments of more than 12% on average, a survey from mortgage lead generator LendingTree LLC found this month.

The highest average residential home loan amount is given to homeowners who live in Hawaii, according to data from LendingTree.

Average weekly fixed rates for mortgages inched up a bit but still are ending the year near their all-time historic lows, according to Freddie Mac.

Fitch said Thursday it sees little risk of a negative rating impact on CMBS from the closure of 100 to 120 unspecified Sears and Kmart stores across the U.S., but noted there is some exposure in the commercial mortgage-backed securities universe to the concern.

Consumers are having a tough time qualifying for a mortgage these days, and even a federal program designed to provide financing for low- and moderate-income borrowers is winnowing out applicants with low credit scores.

The FDIC, which has seen nearly 100 banks fail during 2011, is projecting that figure may rise again in 2012.

The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to implement a congressionally mandated increase in their loan guarantee fees on April 1.

A leading indicator of future home sales jumped 7.3% in the month ofNovember to its highest level in over 19 months, according to theNational Association of Realtors.