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Items Tagged with 'DBRS'

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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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DBRS positive on JPMorgan’s jumbo-ARM mortgage bonds

Offering receives second round of AAA ratings
DBRS is joining Fitch Ratings in awarding AAA ratings to a massive residential mortgage-backed securitization backed entirely by adjustable-rate mortgages from JPMorgan Chase & Co. The offering is backed by 913 adjustable-rate mortgages with a total balance of $940.1 million.
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Two Harbors launching this year's first jumbo RMBS

$279.5 million offering receives AAA ratings
Agate Bay Mortgage Trust 2015-1 is backed by 406 loans with a total principal balance of $279,487,083 and an average loan balance of $688,392. Fitch Ratings and DBRS both issued presale reports for the offering and both awarded nearly $260 million in AAA ratings to the offering.
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Latest jumbo RMBS from Credit Suisse awarded AAA ratings

DBRS cites high quality borrowers as strength of deal
“This transaction exhibits high-quality credit attributes such as low loan-to-value ratios, strong borrower credit and full documentation on substantially all loans,” DBRS said in its presale report. “In addition, the pool contains no interest-only loans and no investment properties.”
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Here comes another jumbo RMBS from JPMorgan

$355.64 million offering receives triple-A ratings
J.P. Morgan Mortgage Trust 2014-OAK4 built on a pool of 434 loans with an aggregate loan balance of $355.64 million. The offering contains loans with an average balance of $819,448 and has a weighted average loan-to-value of 73.7%.
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JPMorgan breaks new ground with ARM-only jumbo RMBS

$483.56 million jumbo RMBS is backed by 5/1, 7/1, 10/1 ARMs
"The payment shock to the borrower for hybrid ARMs and IO loans can be significant, particularly in a historically low interest rate market," Kroll Bond Rating Agency said in its presale report. "In such an environment, rate increases are likely and refinancing opportunities may be limited."
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Two Harbors bringing another jumbo RMBS to market

$374.34 million securitization receives AAA ratings from DBRS
Two Harbors is set to bring its third Agate Bay securitization to market, in the form of Agate Bay Mortgage Trust 2014-2. The $374.34 million RMBS is backed by 543 loans with an average loan balance of $689,393.
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DBRS: CFPB rules, tighter credit driving down mortgage originations

Until uncertainty with QM, ATR settled, many buyers will be shut out
Federal regulations coupled with a general shift from refinance to purchase activities have resulted in historically low volumes of mortgage loan originations, even though home prices have continued to rebound and delinquency and foreclosure rates are at their lowest levels in years.
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