Items Tagged with 'mortgage securitization'

ARTICLES

  • Private capital interest in mortgages growing? Angel Oak closes its largest securitization

    More than 80% of loans are non-QM
    Earlier this year, Angel Oak Capital Advisors, an investment management firm that specializes in mortgage credit, raised $291 million to invest in mortgages that don’t fit inside the Qualified Mortgage box. Apparently Angel Oak’s investors aren’t the only ones interested in non-QM loans. Angel Oak announced this week that it closed its largest securitization to date, a $328.78 million offering comprised largely of non-QM mortgages.
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  • First of its kind? Angel Oak securitizes $90 million in fix-and-flip loans

    Firm claims securitization like this has never been done before
    In a deal the company claims is a first of its kind, Angel Oak Capital Advisors recently completed a $90 million securitization backed by fix-and-flip loans. The securitization’s structure is unique because the terms of the underlying loans expire before the securitization does. As such, new loans will replace the paid-off loans in the securitization.
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  • Monday Morning Cup of Coffee: Deutsche Bank cutting back on mortgage business?

    Plus, a new name emerges to serve as Trump's HUD secretary
    Is Deutsche Bank about to cut back on its mortgage business? It appears so. Plus, a new name emerges to run HUD in President-elect Donald Trump's administration. And why is a massive Silicon Valley venture capital firm investing in a real estate loan marketplace? All that, and more, in your Monday Morning Cup of Coffee.
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  • Private-label securities market languishes at 90% off peak

    The Urban Institute's PLS progress report
    The private-label securities market stands nowhere close to where it used to over the past eight years. In fact, it pales in comparison to its prior demand — so much so that new prime securitization was just $12.1 billion in 2015 — less than 9% of the $142 billion total in 2001. An Urban Institute blog addresses what’s going on in the PLS market, along with the areas that still need a lot of groundwork in order to revive the market.
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  • Fannie Mae reports net income of $1.9B in 1Q

    Lower fair value losses, higher g-fees push income higher
    Net income in the first quarter of 2015 increased compared with the fourth quarter of 2014, due primarily to lower fair value losses in the first quarter of 2015. Further, the GSE expects declining profit going forward. Here's how it broke out.
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  • SFR transactions a low risk of inducing downward price spirals

    Moody’s: Failure to refi won’t result in forced sell-off
    A steep drop in home prices would reduce liquidation recoveries in single-family rental securitizations if the transactions must sell properties to repay bondholders, but the risk that a transaction sponsor’s failure to refinance its loan would itself trigger a widespread property price decline that would in turn harm the transaction’s recoveries is low.
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  • Exploring Barriers to Private-Label MBS Recovery

    The Insurance, Housing and Community Opportunity Subcommittee of the Financial Services Committee held a hearing yesterday focused on identifying government barriers to the housing market recovery.  Michael Farrell, Chairman, CEO and President of Annaly Capital Management, Inc, testified about the reasons private-label securitization has been unable to restart. Annaly, according to Farrell, is the largest residential mortgage Real Estate Investment Trust (REIT) on the NYSE, and the company along with their subsidiaries own or manage approximately $100 billion of residential mortgage-backed securities. From his direct testimony, Farrell laid out four reasons why from his perspective, private-label market is stalled.
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