Securitization

Fannie Mae and Freddie Mac's experiments with selling credit risk to investors are a critical element of new plan to merge the two entities and move them out of conservatorship, but what form so-called credit risk transfers take could make a big difference.

Nomura Holdings Inc. held a training session after a former Jefferies & Co. managing director was indicted for fraud and encouraged its traders not to lie — but that didn't stop the fibbing to customers about bond prices, according to U.S. prosecutors.

Stuart Delery, the Justice Department official overseeing civil investigations of banks for conduct related to the financial crisis, is stepping down April 14 to explore options in the private sector.

Defaults on commercial mortgage-backed securities declined for the fifth straight year in 2015, according to Fitch Ratings.

The U.S. Supreme Court's decision last week not to review a mortgage-backed securities lawsuit renewed interest in a long-brewing legal conflict over the mandate of the Financial Institutions Reform, Recovery, and Enforcement Act.

In a letter to CFPB Director Richard Cordray, the Association of Mortgage Investors said that the "Know Before You Owe" rule has "resulted in a climate of legal uncertainty" and is "chilling" private investment in the U.S. mortgage market.

The government agency that guarantees securitizations of Federal Housing Administration-insured loans is experimenting with a pool type that consists only of modifications and reperforming loans.

The National Credit Union Administration said it has accepted a $29 million offer of judgment from Credit Suisse to resolve claims arising from losses related to purchases of residential mortgage-backed securities by Members United and Southwest Corporate Credit Unions.

Redwood Trust has promoted its chief financial officer, Christopher Abate, to replace its departing president, Brett Nicholas.

The California Supreme Court's recent ruling that a borrower has the right to challenge a wrongful foreclosure opens the door for a tighter mortgage market while leaving key questions about future borrower lawsuits unanswered.

The Securities and Exchange Commission is looking at whether mortgage servicers are boosting profits by prematurely unleashing debt collectors on delinquent borrowers, a person with direct knowledge of the matter said.

Fannie Mae is marketing its second offering of the year of Connecticut Avenue Securities transferring the credit risk on mortgages that it insures.

Fitch Ratings believes the market disruption caused by mortgages that fail to comply with a new consumer disclosure rules is out of proportion to amount of risk posed to investors.

As a handful of new issuers enter the market and the implementation of a key regulation pave the way for subprime securitization's comeback, the volume of new loans that are actually available to the market remains a question.

A small Connecticut bank takes the plunge into mobile-friendly mortgages in a bid to turn an attractive pool of student-loan borrowers into lifetime customers.

Lenders are getting stingier when it comes to funding risky U.S. real estate developments, putting pressure on landlords in need of fresh funding to keep their projects afloat.

Total commercial and multifamily mortgage debt outstanding increased in the fourth quarter of 2015, according to the Mortgage Bankers Association.

JPMorgan Chase is preparing one of the largest private-label mortgage securitizations since the financial crisis.

QRM clarified the rules of the road for securitizations. Now, participants in the MBS world seeking better margins are looking beyond the safe harbor — to the subprime space.

Losses on commercial mortgages declined in February, with a Florida shopping center topping the list of the largest losses, according to Trepp.