The nonbank is set to have a $1.1 trillion portfolio as of the end of March.

Rep. Maxine Waters, D-CA, reintroduced a package of bills aimed at affordable housing.

The National Association of Insurance Commissioners is working to establish a process that would allow the regulator to alter the ratings assigned to certain MBS and ABS held by insurance companies.

An appeals court in Minnesota upheld a practice in the commercial MBS market allowing for the creation of litigation reserve accounts. Junior investors in a 2007 issuance from Wachovia challenged the practice.

Banking regulators appear to be taking criticism of their capital requirements proposal to heart. The impact the proposal would have on the mortgage market remains a major issue.

NYCB took an unexpected loss in the fourth quarter tied to commercial loans and its multifamily business. The bank was then downgraded by Moody’s.

Refis accounted for 15.0% of Ginnie issuance in January compared with a 14.7% share the previous month.

The loss largely looks to be tied to losses on derivatives, which amounted to $2.30 billion in the fourth quarter.

Legislation to limit trigger leads was introduced in the House with bipartisan support.

NYCB recently took unexpected losses on its commercial lending and passed an asset threshold that prompts increased scrutiny by federal regulators.