An affiliate of Proprietary Capital won some significant rulings this week in a lawsuit against Mr. Cooper. The dispute involved early buyouts from Ginnie Mae MBS.
A new IRS private letter ruling outlined a case where exchange bond certificates from a REMIC or grantor trust would be considered a stripped bond under tax policy.
In a case that could have far-reaching effects on MBS investors, a New York judge ordered a servicer to recalculate clean-up call termination prices to include deferred payments.
Credit Suisse completed the first part of the sale of its securitized products group; tighter pricing for Fannie with latest CRT offering; SEC’s rating service report light on details; retrial in GSE shareholder case set for July; RMF’s planned securitization scuttled.
Ginnie’s budget increases for FY 2023; Ginnie senior vice president found to have violated the Code of Federal Relations; Ginnie aligns eNote standards with GSEs; industry-driven FHA loss-mitigation proposals include some potential changes to Ginnie’s standards.
A federal appeals court panel ruled that the SEC didn’t act on the whistleblower’s information about misconduct at RBS even though it passed the information to the DOJ and FHFA, which reached settlements.
The Securities and Exchange Commission had charged James Im, a former bond trader for Nomura Holdings, with fraud for inflating the prices of MBS he bought from and sold to investors.
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