twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
The Mortgage Graveyard
Failed, closed and a c q u i r e d mortgage-related entities.

Nomura Shutters U.S. RMBS Ops

400 layoffs planned

October 15, 2007


The Japanese investment banking firm of Nomura Holdings Inc. announced today it will abandon the U.S. residential mortgage-backed securities market.

Tokyo-based Nomura is overhauling its American operations.

The company said it reduced its U.S. mortgage exposure from $2.4 billion to just $0.4 billion during the second quarter. Currently, the level of exposure stands at just $0.1 billion of investment grade securities with just a fraction of that amount being subprime-related. The company said it will hold on to the remaining securities.

"When we announced our first quarter financial results in July, we said that we would act quickly to securitize and sell off our U.S. residential mortgage exposure and that we were considering exiting the business," Nomura Chief Financial Officer Masafumi Nakada said in a press conference today, according to a transcript of his presentation. "We continued to reduce our exposure in August amid the market turmoil and are now able to say that we have virtually completed our exit."

Nakada explained that the RMBS business is complex and time intensive while the estimation of its remaining portfolio value was very difficult.

About 400 jobs are expected to be eliminated by the move -- leaving approximately 900 employees, the statement said. The remaining employee count represents about half the level it was at in March.

Nomura said it will take $129 million charge as a result of the move.

"This now virtually clears out the problems in our U.S. business," Nakada added. "We are confident that our financial position remains very strong and there are no problems financially with running our U.S. operations."

Sam Garcia worked in mortgage lending for twenty years prior to becoming publisher of

e-mail: [email protected]

Mortgage Backed Securities | MBS News | MBS Statistics
News about commercial and residential mortgage-backed securities. Stories about ratings actions and changes to servicer ratings. Studies and reports about the performance of securitizations and problem vintages and classes. Subprime, Alt-A, home equity and j u m b o analysis.

Mortgage Employment News | Employment Index | Employment Statistics
Job additions, layoffs and employment lawsuits. Employment data from the Department of Labor, state tracking, reports and analysis. Job finding tips.

Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.

Logout forgot

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders