This is why Fannie and Freddie mortgage initiatives won't work

This is why Fannie and Freddie mortgage initiatives won't work

MBA declarations are feel-good, but temporary

How far can lenders push the credit box?

Watt announcement helps, but risk keeps standards tight

Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers
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