Issuance of non-agency MBS quadrupled in the first quarter, according to new figures compiled by Inside MBS & ABS. Firms selling securities include Ocwen and Nationstar.
Banking regulators acknowledged problems with the foreclosure reviews conducted by the nation's megabanks and have agreed to evaluate the use of independent consultants in regulatory actions.
Bank of America entered into a massive buyback settlement with Fannie Mae in January, but has yet to sell any 'purchase' loans to the GSE in 2013. However, this may change soon.
House Republicans were unmoved by pleas from HUD to soften the impact of sequestration and criticized the agency for a lack of commitment to fiscal reform.