JPMorgan Said to Seek First Sale of Mortgage Bonds Since Crisis

Jody Shenn, Bloomberg JPMorgan Chase & Co. is seeking to sell securities tied to new U.S. home loans without government backing in its first offering since the financial crisis that the debt helped trigger. The deal may close this month, according to a person familiar with the discussions. Servicers of the underlying loans may include the […]

San Bernardino Abandons Eminent Domain Mortgage Plan

The plan to use eminent domain to seize troubled mortgages and write down debt for homeowners failed to garner public support. Alejandro Lazo, Los Angeles Times San Bernardino County and two of its cities abandoned a plan that would use eminent domain to seize troubled mortgages and write down debt for homeowners. The decision strikes […]

MBS litigation 2.0: BofA sues trustee Wells Fargo over put-back demands

Alison Frankel, Reuters On Tuesday, Bank of America broke what I believe is new ground in mortgage-backed securities litigation. The bank brought a declaratory judgment suit against Wells Fargo, the trustee in a commercial MBS offering by BofA predecessor LaSalle Bank, requesting a judicial ruling that BofA is not required to comply with the trustee’s […]

Banks Making Up For Bad Old Mortgages By Charging More For Good New Ones

Matt Levine, Deal Breaker There are lots of things to worry about in the world and somewhere on the list is the fact that, while yields on agency mortgage-backed securities are really really really low, the rate you’ll pay for a new mortgage is only really low, so a couple of reallys have fallen off […]

JPMorgan & Credit Suisse Settle SEC Mortgage Inquiries

Dawn Kopecki, Tom Schoenberg and Donal Griffin, Bloomberg JPMorgan Chase & Co. (JPM) and Credit Suisse Group AG (CSGN) agreed to pay almost $417 million to settle U.S. regulatory claims they misled investors while selling billions of dollars of investments linked to home loans. JPMorgan resolved claims that it made misstatements about delinquency data for loans packaged into securities and that […]

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