Items Tagged with 'RMBS issuance'

ARTICLES

  • Ginnie Mae issues new rules for servicers and issuers

    New rules designed to provide more security to MBS market
    Aiming to provide more stability and integrity to the mortgage-backed securities market, Ginnie Mae on Friday released a number of new rules for mortgage servicers and issues of Ginnie Mae securities. Click through for the full details.
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  • Wells Fargo is back in the mortgage securitization business

    Prepares to issue first securitization since the housing crisis
    Once an absolute giant in the mortgage securitization space, Wells Fargo has been noticeably absent from the list of issuers since the housing crisis, but that’s all about to change. The lender is preparing to issue its first mortgage-backed securitization since the meltdown, and unlike its past securitizations, this one is backed by the highest of high-quality loans.
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  • SoFi hires former Goldman Sachs head of mortgage securitization as new CFO

    Does Michelle Gill’s hiring mean more mortgage securitizations are coming?
    Over the last few years, SoFi has become a fairly regular issuer of loan securitizations, whether they are backed by mortgages, personal loans, or student loans. Now, it looks like SoFi may be making a bigger move into securitizations by hiring the former head of mortgage securitization at Goldman Sachs as its new chief financial officer.
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  • loanDepot makes big move into mortgage securitization

    Lender issuing first mortgage-backed security
    loanDepot is no stranger to mortgage securitization, with its loans taking their place alongside other originators’ loans as pieces of many non-agency securitizations over the last few years. But now, loanDepot is making a big move into the secondary mortgage market and launching its first mortgage-backed security, which is backed only by loanDepot loans.
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  • S&P: Mortgage bond issuance doubled in 2017, will continue rising in 2018

    RMBS issuance jumped from $34 billion in 2016 to $70 billion in 2017
    Back in June, Standard & Poor’s Global Ratings said that 2017 was on track to be the best year for the residential mortgage-backed security market since 2013. Now that the final numbers are in, it looks like 2017’s mortgage bond issuance exceeded even the sunniest of forecasts.
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  • AIG breaks into mortgage securitization big-time with high quality first offering

    Underlying mortgages’ average FICO scores are highest since crisis
    When American International Group sold its mortgage-guaranty unit United Guaranty to Arch Capital Group last year, the company said that it planned to turn to residential mortgages to make up for the loss in revenue from the sale of United Guaranty. But AIG didn’t start originating new loans. Rather, the company has been buying up high-quality jumbo mortgages, and now plans to securitize those loans.
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  • S&P: Mortgage bond market on track for best year since 2013

    RMBS issuance in 2017 more than doubles 2016’s totals
    Thanks to the residential mortgage-backed security market continuing its strong performance in the month of May, RMBS-related issuance is now on track to have its best year since 2013, a new report from Standard & Poor’s Global Ratings shows.
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  • S&P: Mortgage-backed security market making a comeback in 2017

    First quarter issuance doubled 2016’s total
    Back in February, DBRS predicted that the residential mortgage-backed security market could see a resurgence in 2017 thanks to rising interest rates, which both drive down refinances and make securitization a more financially appealing option. As it turns out, that’s exactly what’s happening.
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  • AAA ratings return for non-prime mortgage bonds. Crisis redux? Maybe not

    Feature of new RMBS deal builds in greater protections for bond buyers
    The world of post-crisis mortgage bond trading is about to change, as a new mortgage bond is set to hit the market that features loans that would be considered non-prime, and also carries AAA ratings – a post-crisis first. Both Fitch Ratings and DBRS handed the deal AAA ratings on the largest tranche of the deal, but the deal is not a return to the pre-crisis world of credit ratings, at least not yet.
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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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