American Mortgage Investment Partners Management is set to issue a relatively rare non-agency MBS backed by individual mortgages on residential investment properties. The private-equity fund is preparing to issue a deal named RCO 2017-INV1 Trust, according to documents filed last week with the Securities and Exchange Commission. Investors that use mortgages to purchase residential properties typically use financing backed by Fannie Mae or Freddie Mac. But the ...

The Department of Justice has announced a non-prosecution deal with the Royal Bank of Scotland, which includes a $44 million settlement, to resolve a criminal probe of the bank’s activities in non-agency MBS and collateralized loan obligations. The probe accused the bank of defrauding more than 30 customers that purchased residential and commercial MBS as well as ABS over a five-year period beginning in 2008. The group that handled the sales of these securities for RBS was ...

This week, the government-sponsored enterprises reported combined earnings of $7.69 billion in the third quarter of 2017, which was up almost $3 billion from the previous period. As the end of the year approaches, they also continue to reduce their retained investment portfolios as mandated by the Federal Housing Finance Agency. Fannie Mae and Freddie Mac earnings were boosted by a legal settlement with the Royal Bank of Scotland over non-agency MBS ... [Includes one data chart]

The $1 million cap is grandfathered and will only affect loans taken out after enactment of the bill...

“There was no drama surrounding this meeting of the FOMC,” said Michael Fratantoni, chief economist for the Mortgage Bankers Association.

No immediate successor to Ashmore was named, but whoever the person is they will have to deal with a slumping revenue picture…

Ocwen will not be sold through a stock deal, but Nationstar could be...

Meanwhile, the indicators point to a drop in production volume for the fourth quarter…

Brian Vieaux, a senior vice president of third-party originations, said loan brokers are an “extension” of Flagstar’s reach through the retail channel.

Fannie Mae and Freddie Mac earnings remained strong in the third quarter as the GSEs posted a combined $7.7 billion in net income. Fannie reported $3.02 billion, a 5.5 percent decline from the prior quarter. Freddie posted $4.67 billion, more than double the $1.66 billion reported in the second quarter. While the combined number is well above the $4.86 billion total booked in the previous quarter, the bulk of it is attributed to a legal settlement windfall with the Royal Bank of Scotland over non-agency mortgage-backed securities sold to the GSEs. Freddie received the lion’s share of the taxable settlement with $4.5 billion and Fannie received $975 million.