Items Tagged with 'Morningstar'

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Morningstar: Here's the impact of rising interest rates on mortgage-backed securities

Prepayments will slow, default risk could rise
The latest data from Freddie Mac, released Thursday, showed that mortgage interest rates are on the rise again. What will the impact of rising interest rates be on mortgage-backed securities, especially private-label mortgages? A new report from Morningstar has the answers. And here they are.
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Clayton Holdings becomes first Morningstar-rated 'deal agent' for mortgage bonds

Increased oversight of private-label deals could spur market
Earlier this year, several of the "biggest bond funds on Wall Street" released a proposal to include an additional layer of oversight and protection on private-label mortgage bonds as part of an effort to jumpstart the languishing private mortgage market. Now, Morningstar Credit Ratings is helping to move the concept forward by issuing it first "deal agent" ranking.
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eMortgage Logic becomes Morningstar-rated asset valuation vendor

Receives ‘MOR RV1’ vendor ranking
eMortgage Logic, a provider of residential real property valuations, data and analytics, received a residential vendor ranking from Morningstar Credit Ratings. According to a release from Morningstar, the ratings agency assigned a ‘MOR RV1’ residential vendor ranking to eMortgage Logic as a residential vendor in the asset valuation market.
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Ocwen’s servicer ratings just took another hit

Morningstar becomes latest to downgrade troubled nonbank
Things just keep going from bad to worse for Ocwen Financial. After Fitch Ratings downgraded the nonbank's mortgage servicer ratings earlier this week, Morningstar is issuing a downgrade of its own, as a result of Ocwen’s “continuing regulatory scrutiny and allegations of improper servicing practices.”
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Morningstar: True cost of Ocwen settlement far exceeds $150 million

Settlement could halt any long-term growth
If Ocwen Financial thought that its regulatory troubles were over now that it settled with the New York Department of Financial Services for $150 million, the beleaguered company has another thing coming. The increased regulatory scrutiny and loss of its chairman could cripple Ocwen's growth, according to Morningstar.
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Ocwen’s servicer ratings downgraded…again

Morningstar becomes latest to weigh in on Ocwen’s issues
"The forecast for the residential mortgage servicer, residential vendor, and residential prime mortgage servicer rankings is 'Unfavorable,'" Morningstar said. "Morningstar believes that continuing regulatory scrutiny could have further negative consequences for OFC’s residential mortgage servicing business."
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Progress Residential prices first REO-to-rental securitization

Pricing beginning to normalize in burgeoning asset class
In a sign that the REO-to-rental securitization market is beginning to normalize, Progress Residential 2014-SFR1 priced similarly to the last REO-to-rental securitization, American Residential Properties’ $342.67 million securitization.
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