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Items Tagged with 'Risk Sharing'

ARTICLES

Market demand causes Freddie Mac to upsize first actual loss STACR deal

STACR Series 2015-DNA1 increased from $720 million to $1.01 billion
Ben Lane
Citing market demand, Freddie Mac increased the size of its latest Structured Agency Credit Risk series offering, which gives investors the opportunity to secure actual loss positions for the first time. Here are the details.
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Fannie Mae to list risk-sharing bonds on Irish Stock Exchange

Will hold “sufficient” credit risk to ensure compliance with European Union rules
Ben Lane
European investors seeking to buy into the U.S. mortgage market will now have that opportunity, after Fannie Mae announced that it plans to list all of its outstanding risk-sharing mortgage bonds on the Irish Stock Exchange.
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Freddie Mac prices first high-LTV risk-sharing bond of 2015

STACR 2015-HQ1 features loans with 80-95% loan-to-value ratio
Ben Lane
Freddie Mac priced its first high loan-to-value risk-sharing bond of 2015, which is supported by loans with LTV ratios of 80-95%. According to Freddie Mac, the deal was greeted positively by investors.
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Freddie Mac prepping first high-LTV risk-sharing bond of 2015

STACR 2015-HQ1 features loans with 80-95% loan-to-value ratio
Ben Lane
Freddie Mac broke new ground last year when it offered even more credit risk with a new risk-sharing deal structure, supported by loans with loan-to-value ratios of 80-95%. Now, Freddie is back with its first high-LTV mortgage bond of 2015, STACR 2015-HQ1.
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Freddie Mac offloads $155 million of credit risk to insurers

Fourth ACIS transaction brings total credit risk offload to $205 billion
Ben Lane
As part of its continuing effort to limit the American taxpayers’ liability, Freddie Mac obtained a number of insurance polices designed to cover potential losses on a $155 million pool of single-family loans.
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Fannie Mae unveils new mortgage risk-share deal

Shifting more risk to private market
Jacob Gaffney
After putting together several successful risk-sharing deals, today the government-sponsored enterprise unveiled a new product. This time, it's different.
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Freddie Mac’s second high-LTV risk-sharing bond prices tight

$33.43 billion deal carries average LTV of 91.6%
Ben Lane
STACR-HQ2 was even larger than Freddie Mac's first high LTV offering, with an unpaid principal balance of $33.43 billion and a weighted average LTV of 91.6%, spread across 147,771 loans. It priced tight compared to the first offering.
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Fannie Mae fourth risk-sharing bond prices wide

Plans next deal in November
Jacob Gaffney
This deal is consistent with prior transactions, and includes reference loans with original loan-to-value ratios of up to 97%, the government-sponsored enterprise said in a statement.
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Fannie Mae prices largest credit-risk sharing deal so far

Deal is third of its kind and totals $1.6bn
Ben Lane
The offering, Series 2014-C02, is the third in Fannie’s Connecticut Avenue Securities series. Fannie noted that this offering includes reference loans with original loan-to-value ratios of up to 97%. Previous C-deal offerings included reference loans with up to 80% original LTV ratios.
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GSE risk-sharing deals begin on a high note

High credit quality, minimal delinquencies
Brena Swanson
Loan performances for government-sponsored enterprise’s risk sharing deals are off to a strong beginning, with recent reference pools reporting better credit attributes than historical averages, even when compared to strong-performing vintages.
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