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.
The Obama-era task force set up to investigate MBS fraud that contributed to the 2008 crisis has finished its job. Its efforts led the DOJ to collect $36 billion in penalties from banks, originators and rating agencies.
AGNC CEO is comfortable with FDIC’s plans for sales of MBS held by failed banks; Morgan Stanley revives jumbo MBS; UBS prepares for legacy residential MBS action by DOJ; Chase offers RPLs in non-agency MBS.
An appeals court has awarded ResCap Liquidation Trust nearly $22 million in damages and other expenses in its case against Primary Residential Mortgage.
Credit Suisse settles legacy non-agency MBS lawsuit; Fannie and Freddie to publish aligned social disclosures for single-family MBS; bank trade groups seek change in FHFA’s capital treatment relating to access of FHLBs; Ginnie portal to re-open Oct. 25; aviation ABS investors in holding pattern on collateral in Russia.
A trial that started in September after years of delays ended with a settlement. Bank of America agreed to pay $1.84 billion to settle claims tied to non-agency MBS issued by Countrywide Financial prior to the 2008 financial crisis.
A lawsuit filed by New York’s attorney general against Donald Trump put a spotlight on valuation practices for commercial properties. Commercial MBS participants note that protections are in place regarding potentially inflated appraisals.
MBA urges FHFA to consider securitization when reviewing the Federal Home Loan Bank system; Ambac’s MBS lawsuit against Countrywide goes to trial 12 years later; MISMO seeks comments on template for BWIC activity.
RSS