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Volume 2014 - Number 6

March 14, 2014

Credit Suisse Taps New Penn for Another Jumbo MBS

Credit Suisse teamed with New Penn Financial to issue another jumbo mortgage-backed security at the end of February, the latest in a unique partnership. The $297.36 million issuance received a AAA rating with credit enhancement of 8.85 percent for the top-rated tranche. Some 13 lenders contributed to the deal, with 74.2 percent of the mortgages originated or acquired by New Penn, according to a final rating report by DBRS (no presale reports were issued). Standard & Poor’s ...

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With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.


Yes, by a lot.


Yes and, heck, we may even do non-QM lending.


No, not at all.


No and we may even tighten credit.