Alt A Mortgage

Browse articles from all of our Newsletters related to Alt A Mortgage.

May 17, 2013 - Inside Nonconforming Markets

Subprime Volume Indicators and ABX Prices

A half page of subprime and jumbo data.


May 17, 2013 - Inside Nonconforming Markets

GSEs Set to Sell Some Non-Agency MBS Holdings

After years of holding onto investments in non-agency mortgage-backed securities even as prices declined significantly, the government-sponsored enterprises are preparing to sell some of their $101.5 billion in non-agency MBS holdings. Freddie Mac is offering $1.0 billion in non-agency MBS for sale with plans to unload as much as $5.0 billion this year, if pricing for the securities remains strong. A spokesman for the GSE said the sales are part of an effort to meet goals set by ... [Includes one data chart]


May 17, 2013 - Inside Nonconforming Markets

Ocwen Dominates Subprime Servicing; Servicers Eye $300+ Billion in Transfers

Boosted by acquisitions from Homeward Residential and Residential Capital, Ocwen Financial handled a whopping 33.7 percent share of the subprime mortgages outstanding at the end of the first quarter of 2013, according to a new ranking by Inside Nonconforming Markets. Three major special servicers are in negotiations to acquire more than $300 billion in unpaid principal balance of mortgage servicing each in the next year. While the servicers have broadened their focus to include ... [Includes one data chart]


May 3, 2013 - Inside Nonconforming Markets

Subprime Volume Indicators and ABX Prices

A half page of subprime and jumbo data.


April 25, 2013 - Inside MBS & ABS

Moody’s Developing a New Approach to Addressing Tail Risk in RMBS as Market Recovery Continues

Moody’s Investors Service has come up with a monitoring approach to evaluating “tail risk” in non-agency MBS that pay scheduled principal and prepayments to the securities on a pro-rata basis and assessing the adequacy of the credit enhancement available to the rated securities. Tail risk is what might be described as the “end of life” risk of a disproportionately large loss (based on current balance of the pool) on the underlying pool at the end of a transaction’s term when few loans remain in the pool and credit enhancements, although high in percentage terms, may be very low in dollar terms. The proposed change in approach at Moody’s will mostly affect...


April 25, 2013 - Inside MBS & ABS

Proposed Changes to NAIC Modeling Could Lead to Increased Expected Losses, Sales of Non-Agency MBS

The National Association of Insurance Commissioners recently proposed changes to modeling values of insurance company holdings of non-agency MBS and commercial MBS. The proposal could increase loss forecasts and prompt some sales of the securities, according to analysts. The NAIC proposed using the Treasury strip curve as the discount rate in determining the net-present value of expected loss for modeled securities, as opposed to using each security’s coupon rate to determine expected losses. The standard-setting group governed by state insurance regulators noted that the Treasury strip curve is a risk-free curve. “Using a consistent risk-free rate for all modeled securities in calculating the expected loss reflects...


April 19, 2013 - Inside Nonconforming Markets

Subprime Volume Indicators and ABX Prices

A half page of subprime and jumbo data.


April 19, 2013 - Inside Nonconforming Markets

Hard-Money Lender May Quadruple Production

California Capital Real Estate Advisers of Pasadena, CA, could quadruple its hard-money production volume this year, according to Mark Mozilo, a principal in the firm. “The rehab business is going crazy here,” Mozilo said. He estimated that 80 percent of CALCAP’s business is in the rehabilitation category. “There’s a lot of fix-it-up and flip it activity,” he said. Although the “quadruple” estimate sounds impressive, the firm’s overall production volume is tiny compared to conventional lenders ...


April 18, 2013 - Inside MBS & ABS

Non-Agency MBS Market Off to Its Best Start In Two Years, Jumbo Plays Significant Role

The non-agency MBS market produced $8.33 billion in new transactions during the first quarter of 2013, its strongest issuance in nearly two years, and did so the old-fashioned way by relying heavily on “new” prime jumbo mortgages. The first three months of 2013 saw nearly a threefold increase in non-agency MBS issuance compared to the previous quarter and was 65.1 percent ahead of the pace set in 2012, according to a new analysis and ranking by Inside MBS & ABS. Although over half the issuance volume was in re-securitizations and deals backed by servicer advances, the most encouraging sign was the continued rebound in prime jumbo MBS production. Redwood Trust made good...[Includes three data charts]


April 12, 2013 - Inside Mortgage Trends

New Subprime Lender Funds First Loan

Citadel Loan Servicing Corp. of Irvine, a new subprime lender launched by industry veteran Dan Perl, funded its first loan last week, and is getting a barrage of telephone calls from potential borrowers to its headquarters in Southern California. “We’re getting 25 to 30 inquiries a day,” Perl told Inside Mortgage Trends. The firm is in the process of evaluating between $1.5 million and $2 million in residential loans. The first mortgage it funded was for $315,000 on a home in Orange County, CA. The ...


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Wind the two GSEs down as quickly as possible while setting up some new government guarantee program for conservatively underwritten conventional mortgages.
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