Monday Morning Cup of Coffee: Time to cut the MLS cord?

Monday Morning Cup of Coffee: Time to cut the MLS cord?

Plus housing metrics, the incredible shrinking GDP, and kicks are for TRIDs

Jeb Bush: Current housing and debt situation unsustainable

Is the clock ticking on the 30-year mortgage?

Senate banking committee passes massive regulatory relief bill

Big implications in legislation for housing and mortgage finance
W S
Investments / The Ticker

PennyMac markets plain vanilla private RMBS

Easing into the private market with pool of 30-year fixed-rate jumbo mortgages

buy_sell
/ Print / Reprints /
| Share More
/ Text Size+

PennyMac Mortgage Investment Trust (PMT) is finally coming to market with its much-awaited private residential mortgage backed securitization vehicle.

The mortgage pool backing PMT 2013-J1 is comprised of 691 first-lien mortgage loans with an aggregate principal balance of $550.4 billion, said Kroll Bond Ratings in its presale report.

The loans in the pool are all 30-year fully amortizing fixed-rate mortgages, Kroll states. There are no interest-only loans in the pool.

The pool is characterized by substantial borrower equity in each mortgaged property, as evidenced by an average loan-to-value ratio of 70% and a combined LTV of 71%.

The average credit score of the mortgage pool is 770.

Kroll anticipates investment-grade paper, primarily triple-A.

Recent Articles by HousingWire Staff

Comments powered by Disqus