A foreclosure action against a borrower for alleged mortgage fraud landed a Florida-based lender in court for punitive damages.

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.