Items Tagged with 'jumbo RMBS'


Two Harbors bailing on jumbo bonds already impacting mortgage market

Ripple effect already takes down one jumbo originator, for now
Two Harbors Investment Corp. shocked the mortgage industry Thursday when it announced that it planned to shutter its mortgage loan conduit and securitization business. But what about the loan originators that turned to Two Harbors to buy jumbo loans? What happens to them now that there’s one less buyer and securitizer of jumbo mortgages in the market?
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Two Harbors gives up securitization business

Also abandons mortgage loan conduit business
Once a prominent feature of the secondary mortgage market, prime jumbo residential-mortgage backed securities fell out of favor in the aftermath of the housing crisis. While the post-crisis figures paled in comparison to the pre-crisis days, there are still a number of companies actively issuing prime jumbo RMBS deals. But now, there’s one less.
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Redwood Trust turns in “disappointing” first quarter

Net income falls from $27 million to $15 million
Low interest rates sent Redwood Trust's net income down again in the first quarter of 2015, falling from $27 million in the fourth quarter of 2014 to $15 million in the first quarter. In a letter to shareholders, Redwood’s CEO, Marty Hughes, and president, Brett Nicholas, said they were “disappointed” by the results of the first quarter.
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Five Oaks breaks into jumbo mortgage bonds

Launches first securitization
After participating in two jumbo mortgage bond offerings brought by other issuers in 2014, Five Oaks Investment Corp. is launching a jumbo mortgage bond of its own. The offering, which will be issued as Oaks Mortgage Trust Series 2015-1, is backed by 383 mortgages with a total balance of approximately $267.2 million.
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DBRS: The future is bright for jumbo mortgage bonds

Number of issuers growing; positive trends emerging
Despite a drop in the number of prime jumbo residential mortgage-backed securitizations from 2013 to 2014, several trends are beginning to emerge that show the future of jumbo mortgage bonds is strong, DBRS said in a new report.
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WinWater prepping vanilla jumbo mortgage bond

$287.74 million offering receives AAA ratings
For the third time this year, WinWater Home Mortgage is preparing to bring a prime jumbo residential mortgage-backed securitization to market. WinWater Mortgage Loan Trust 2015-3 is backed by 382 loans with a total principal balance of $287,742,280.
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Two Harbors bringing $294 million jumbo RMBS to market

Second Agate Bay offering of 2015
Agate Bay Mortgage Trust 2015-2 is backed by 400 loans with a total principal balance of $294 million and an average loan balance of $736,131. DBRS issued a presale report for the offering and awarded more than $276 million in AAA ratings to the offering.
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JPMorgan preps second ARM-only jumbo mortgage bond

$372.4 million offering receives triple-A ratings
Kroll Bond Rating Agency, Moody’s Investor Service and Fitch Ratings each issued presale reports on J.P. Morgan Mortgage Trust 2015-IVR2, and each ratings agency awarded triple-A ratings to the majority of the offering’s classes.
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