The Wrap: Appraisal volume ticks down after two weeks up

The Wrap: Appraisal volume ticks down after two weeks up

New tips, tools and tricks of the trade

Dear Parents, don’t expect your homebuying Millennials to pay you back

loanDepot graph shows they can barely save for retirement

Trending Thursday: Banks make more on mortgages while government steals GSE profits?

Yale legal scholars on #FannieGate
W S
Investments

RMBS issuance on track to generate $12 billion in 2013

Residential mortgage-backed securitization issuance is on track to generate $12 billion in 2013, according to Standard & Poor’s.

Contributing to this trend is Stanwich Mortgage, which announced a $260 million non-agency RMBS deal backed by nonperforming loans in February, the credit rating agency said.

Wells Fargo Securities (WFC) is the lead on the deal.

The deal brings the year-to-date total for all nonagency RMBS issuance to $1.7 billion, Standard & Poor’s said.

Similarly, real estate investment trust Redwood Trust (RWT) is on track with its goal of issuing once a month as the firm embarks on its third private-label RMBS deal of 2013. 

Another issuer is Credit Suisse (CS), which priced its third private-label RMBS of the year on Nov. 30.

The deal securitizes prime, jumbo mortgages purchased as part of a mortgage portfolio acquired for structured finance purposes by subsidiary DLJ Mortgage Capital.

In December, S&P noted that total RMBS issuance was expected to hit $15 billion in 2013.

Total private-label RMBS was roughly $6 billion in 2012, compared to $2.8 billion in 2011, S&P noted.

"Agency issuance continues to dominate the market, but several issuers are accumulating collateral," according to industry reports.

cmlynski@housingwire.com

Recent Articles by Christina Mlynski

Comments powered by Disqus