Joe Gormley nominated for Ginnie president; UBS pays DOJ to end lingering non-agency MBS obligations from Credit Suisse; Chase marketing non-agency MBS with reperforming loans.

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.