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MBS

TIAA-CREF Unit to Invest in MBS

August 25, 2010 - TIAA-CREF said yesterday that its savings bank subsidiary can now expand its banking services, including orinating mortgages and investing in MBS.

FHA OK on Conventional Refis, But Raises CLTVs on FHA Product

August 25, 2010 - The FHA is opening the door for conventional borrowers with negative equity to refinance into government insured loans.

Fed to Reinvest MBS and Agency Debt Principal Payments

August 11, 2010 - The Federal Reserve will be reinvesting principal payments from agency MBS and agency debt into longer-term Treasury securities.

CMBS Market Coming Back to Life, S&P Says

August 5, 2010 - S&P has stated that after nine months and five new transactions, the CMBS market seems to be “slowly coming back to life.”

Vornado and Goldman Add to Active CMBS Market

August 4, 2010 - Vornado has issued a $660 million CMBS deal.

Rieder's Fixed-Income Oversight to Include Mortgages

August 4, 2010 - Rick Rieder, who has been head of corporate credit at BlackRock, has taken on responsibility for the multi-sector and mortgage group at the company in his promotion to chief investment officer.

Mortgage Application Activity Increases 1.3%

August 4, 2010 - Mortgage application activity moved higher in the week ending July 30 with refinancing and purchase activity gaining as mortgage rates eased to new record lows.

Two RMBS Deals in the Market

August 4, 2010 - American Home Mortgage Servicing is in the market with a $400 million real estate-backed deal with Deutsche Bank Securities serving as lead manager.

BofA Will Pay $600MM to Settle Countrywide Case

August 3, 2010 - Bank of America has agreed to pay $600 million to settle several class action lawsuits filed by Countrywide Financial Corp. shareholders over the lender's subprime program.

Pending Home Sales Index Drops

August 3, 2010 - The National Association of Realtors' gauge of future home sales drifted lower in June after a 30% plunge in May just after the federal tax credit expired for first-time and move up buyers.

ResCap/Ally Bank Mortgage Earns $230MM in 2Q

August 3, 2010 - Residential Capital Corp. and its mortgage related affiliates earned $230 million in the second quarter, compared to a year ago loss of $1.3 billion.

Private Label MBS Losses Continue at U.S. Central

August 3, 2010 - U.S. Central Federal Credit Union reported late Monday that growing losses on its portfolio of private-label mortgage-backed securities created a $39.4 million loss for its second quarter.

NY Fed To Include Agency MBS as Collateral for Repo Transactions

August 3, 2010 - The Federal Reserve Bank of New York will include agency MBS in its SOMA portfolio as eligible collateral for real-value repurchase transactions effective tomorrow, the Fed announced today.

MBA and CREFC Weigh in On CMBS SEC Proposals

August 3, 2010 - The CRE Finance Council and the Mortgage Bankers Association have filed comment letters on several recent SEC proposals.

July Delinquency Rate Increases 12 Basis Points

August 3, 2010 - The delinquency rate for commercial real estate in CMBS went up 12 basis points in July, the smallest rise in over a year and slightly smaller than June’s increase of 17 basis points.