Alt A Mortgage

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

April 18, 2014 - Inside MBS & ABS

Despite Modest Rebound in Jumbo Issuance, Non-Agency MBS Starts 2014 on Life Support

The sputtering non-agency MBS market generated just $2.59 billion in new issuance during the first three months of 2014, one of the lowest quarterly marks since the market imploded in late 2007. New issuance in the first quarter was down 44.1 percent from the already-weak level in the fourth quarter of 2013, and it was off 65.6 percent from the same period a year ago. There was...[Includes two data charts]


April 11, 2014 - Inside Nonconforming Markets

Subprime Volume Indicators and Performance

A page of subprime and jumbo data.


April 11, 2014 - Inside Nonconforming Markets

Nonbanks Looking Beyond Non-Agency MBS

A number of real estate investment trusts and other nonbanks plan to invest in nonprime assets other than vintage non-agency mortgage-backed securities as part of an effort to take credit risk as opposed to interest rate risk. The plans include investments in credit-sensitive loans, seller financing for lenders that work with nonprime borrowers and, potentially, even direct nonprime lending. A year ago, Two Harbors Investment saw an opportunity in what it calls credit-sensitive loans ...


March 28, 2014 - Inside Nonconforming Markets

Subprime Volume Indicators and Performance

A page of subprime and jumbo data.


March 28, 2014 - Inside MBS & ABS

BofA’s $9.3 Billion Settlement Doubles Overnight FHFA’s MBS Litigation Recovery; S&P Moves to Split Fraud Trial

With just one accord this week, the Federal Housing Finance Agency more than doubled the amount it has recovered on behalf of Fannie Mae and Freddie Mac from issuers and underwriters that sold subprime and Alt A MBS to the government-sponsored enterprises. Bank of America agreed to a $9.3 billion settlement that covers its own dealings as well as those of Countrywide Financial and Merrill Lynch, which it acquired in 2008. The agreement covers some $57 billion of MBS issued or underwritten by these firms. BofA did not admit...[Includes one data chart]


March 14, 2014 - Inside Nonconforming Markets

Subprime Volume Indicators and Performance

A page of subprime and jumbo data.


March 14, 2014 - Inside Nonconforming Markets

GSEs Shedding Nonprime Holdings, Earning Profits

Fannie Mae and Freddie Mac sold some nonprime mortgage-backed securities during 2013 even though the government-sponsored enterprises have seen strong returns on these holdings in recent quarters. The GSEs held a total of $84.61 billion in nonprime MBS as of the end of 2013, according to a new analysis by Inside Nonconforming Markets. The holdings declined by 18.2 percent compared with the end of 2012 due to a combination of ... [Includes one data chart]


March 14, 2014 - Inside MBS & ABS

Mortgage Securitization Rates Edged Higher in 2013 Despite Growth of Non-Agency Originations

The residential MBS issued in 2013 equaled 78.5 percent of primary market originations, the highest securitization rate since 2010, according to a new Inside MBS & ABS analysis. The mortgage securitization rate typically moves higher when primary-market originations are declining because of the time lag between loan closing and MBS issuance. Last year started with a bang – $560 billion in new originations – and ended with a whimper, $305 billion. In the conventional conforming market, Fannie Mae and Freddie Mac MBS issuance – even after excluding loans that were more than three months old when they were securitized – represented...[Includes one data chart]


Poll

What do you think is the biggest hurdle to meeting the new QM standards in the CFPB’s ability-to-repay rule?

A debt-to-income (DTI) cap of 43%.

48%

A 3% cap on points and fees.

29%

An interest rate cap of the average prime offered rate (APOR) plus 1.5%.

23%

Housing Pulse