March 2, 2015

Monday’s Adjudication Roundup

By Shea Cunningham

Morgan Stanley agrees to pay the DOJ $2.6 billion to end investigation about its mortgage-backed securities deals during the financial crisis. MetLife settles with DOJ for $123.5 million for issuing mortgages that did not meet underwriting standards. Settlement Agreement. Statement … Continue reading

February 25, 2015

Wednesday’s Academic Roundup

By Shea Cunningham

Regulation and Liability of Credit Rating Agencies – A More Efficient European Law?, by Thomas M.J. Mollers & Charis Niedorf, ECRF 2014, 333-363. How Federal Tax Expenditures that Support Housing Contribute to Economic Inequality, by Henry Rose, Loyola University Chicago … Continue reading

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February 25, 2015 in MBS industry | Permalink | No Comments

February 23, 2015

Monday’s Adjudication Roundup

By Shea Cunningham

Federal judge reprimands Wells Fargo for forged mortgage documents in connection with foreclosure in NY. Goldman Sachs, among others, argues to SDNY that it was wrongfully included in litigation over requiring mortgage customers to purchase force-placed insurance and taking kickbacks. … Continue reading

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February 23, 2015 in MBS industry | Permalink | No Comments

January 22, 2015

Kroll on Mortgage Performance

By David Reiss

The Kroll Bond Rating Agency has issued an update of its residential mortgage-backed securities model methodology, Residential Mortgage Default and Loss Model. Before the financial crisis, ratings models seemed to be very reliable, data-driven models of probity and caution. We … Continue reading

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January 22, 2015 in MBS industry | Permalink | No Comments

January 12, 2015

S&P on Jumbos

By David Reiss

Last week, I discussed an up beat S&P report on the overall RMBS market. Today I discuss and S&P report on the jumbo mortgage market. This report sees much slower growth in the private-label jumbo residential mortgage-backed securities market. It … Continue reading

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January 12, 2015 in MBS industry | Permalink | No Comments

September 30, 2014

Cool Mortgage Tool

By David Reiss

The Urban Institute has created a cool interactive tool to map mortgages in the United States. Enterprise describes the tool as follows: it maps 12 years of data on more than 100 million mortgage originations throughout the U.S. by race … Continue reading

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September 30, 2014 in MBS industry | Permalink | No Comments

September 17, 2014

Foreclosure Mitigation Counseling Works

By David Reiss

The Urban Institute published a study, National Foreclosure Mitigation Counseling Program Evaluation Final Report, Rounds 3 Through 5, that it prepared for NeighborWorks® America. The executive summary notes that The National Foreclosure Mitigation Counseling (NFMC) program is a special federal … Continue reading

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September 17, 2014 in MBS industry | Permalink | No Comments