Items Tagged with 'RMBS'

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Prime jumbo mortgage bonds are disappearing. Here's why

DBRS report shows new issuance falling off a cliff
Recent reports showed that rate at which new mortgage bonds enter the market is slowing considerably in 2016. But just how dry is the well getting? Incredibly dry, especially if you’re an investor looking for a prime jumbo mortgage bond.
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S&P: Bond issuance hits yearly high; mortgage bonds not so much

RMBS issuance now tracking well below 2014 and 2015
Back in September, a report from Standard & Poor’s Global Ratings showed the mortgage bond well running dry, as the rate at which new residential mortgage-backed securities entered the market showed serious signs of slowing down. Well, S&P updated that report Tuesday, complete with bond issuance from October, and the news isn’t good for mortgage bonds or mortgage bond investors.
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S&P: Private mortgage bond well running dry

Report shows 2016 RMBS issuance tracking well below 2015
The rate at which new residential mortgage-backed securities are entering the market is slowing down, with 2016’s rate of RMBS issuance currently tracking well below last year, a new report from Standard & Poor’s Global Ratings shows.
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Did whistleblower out First Mortgage's $7.5 million Ginnie Mae mortgage bond fraud?

The SEC wants to know, offers potential reward
The Securities and Exchange Commission is offering a reward to the whistleblower that revealed a scheme at First Mortgage Corporation that involved several of the company’s senior executives lying about the performance of the mortgages the company originated, re-securitizing them, and defrauding investors out of $7.5 million – if in fact there is one.
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Deutsche Bank negotiating with DOJ on mortgage bond settlement

Discloses ongoing talks with government on RMBS activities
Deutsche Bank revealed Wednesday that it is currently in negotiations with the Department of Justice to resolve an investigation into the bank’s mortgage bond activities. The bank’s earnings materials don't disclose what specific matter the DOJ is investigating, but the DOJ has been looking into Deutsche Bank's mortgage-backed securities activities since at least 2013.
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Mortgage bond investors finally get paid $8.5 billion Countrywide settlement

Five-year wait to receive settlement funds is over
Last month, mortgage bond investors moved one step closer to ending their five-year wait for their money from an $8.5 billion settlement involving Bank of America, mortgages originated by its Countrywide unit, and the Bank of New York Mellon. At the time, a report suggested that the aggrieved bondholders would receive their money in June, and according to a new report from Fitch Ratings, that’s exactly what happened.
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From HW Magazine

The rise and fall of Redwood Trust RMBS

Is the lack of jumbo mortgage bonds a sign of troubled times ahead?
Redwood has always been a securitization game-changer — even when getting out of the game. In the years following the housing crash, Redwood always found a way to stay on the forefront. As the private-label market for securitization produced little in securitization volume, Redwood continued to issue.
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Finally: $8.5B Countrywide mortgage bond settlement gets green light

Payouts set to reach burnt investors as soon as June
Ending a legal quagmire that stretched back to 2011, investors are finally set to receive their money from an $8.5 billion settlement involving Bank of America, mortgages originated by its Countrywide unit, and the Bank of New York Mellon, which acted as the trustee for the mortgage bond investors.
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