Housing shouldn’t look at any color but the color of money

Housing shouldn’t look at any color but the color of money

People with bad credit and bad habits should be squeezed out of housing

Who is Nat Hardwick?

Former LandCastle Title CEO owns NASCAR team, rubs elbows with PGA pros

Lawsuit alleges former LandCastle Title CEO embezzled $30 million

Nat Hardwick allegedly used funds for private jets, gambling
W S
Investments

Citigroup launches RMBS

Loans pulled from now-defunct Citigroup Mortgage Securities

Citi
KEYWORDS Bonds / Citigroup / triple-A
/ Print / Reprints /
| Share More
/ Text Size+

Citigroup (C) is releasing details of its second residential mortgage backed securitization since the housing recovery began.

Citigroup Mortgage Loan Trust 2014-A is backed by 1,164 loans with a principal balance of nearly $379 million.

The loans are from the now-defunct Citigroup Mortgage Securities and originated in 2003 and 2004.

None of the homeonwners missed a payment for more than three months.

A very small percentage is modified mortgages.

In its presale, DBRS rates two highest tranches double AA on 8.3% credit enhancement. Similar ratings were also assigned from Standard & Poor's.

Single-A, triple-B, double-B and single B also awarded. Its first RMBS, back in 2010, was able to get triple-A.

Third-party due diligence, including pay history and servicing comment review, was conducted on 100% of the portfolio.

Recent Articles by Jacob Gaffney

Comments powered by Disqus