Alt A Mortgage

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

June 17, 2016 - Inside Nonconforming Markets

Subprime Volume Indicators and Performance

A page of subprime and jumbo data.


June 17, 2016 - Inside Nonconforming Markets

Few Delinquencies on Caliber’s Non-Agency Loans

Performance data on nonprime mortgages originated by Caliber Home Loans in recent years suggest that it’s possible to originate loans to borrowers who don’t qualify for agency financing without experiencing major delinquencies. Caliber started originating non-agency mortgages in its portfolio loan program in the fourth quarter of 2014. None of the mortgages have been 60 or more days past due, according to a term sheet for a pending nonprime mortgage-backed security ...


June 17, 2016 - Inside Nonconforming Markets

Lone Star to Issue First Rated Nonprime MBS Backed by Post-Crisis Originations

Lone Star Funds is preparing to issue a $161.71 million nonprime mortgage-backed security that will close next week. COLT 2016-1 Mortgage Loan Trust received an A rating from DBRS and Fitch Ratings. The deal marks the first nonprime MBS backed by new originations to receive a rating since the financial crisis. It will also be the largest post-crisis nonprime MBS issued to date, topping a $150.35 million MBS from Angel Oak Capital Advisors in December. Officials at Fitch Ratings said ...


June 17, 2016 - Inside MBS & ABS

MBS Outstanding Held Steady in Early 2016; Foreign Buyers, Pension Funds Boost Holdings

The outstanding supply of single-family MBS in the market fell slightly in the first quarter, but you have to go two paces to the right of the decimal point to see it. A new Inside MBS & ABS analysis indicates that outstanding MBS totaled $6.407 trillion as of the end of March. That was down 0.01 percent from the previous quarter, stalling a steady expansion of the market that took place in 2015. And with a modest 0.2 percent increase in total single-family mortgage debt outstanding, the modest contraction in MBS nudged...[Includes two data tables]


June 10, 2016 - Inside MBS & ABS

Fitch Says Thin Track Record Caps Rating For New Nonprime MBS Issued by Lone Star

A $161.71 million MBS planned by Lone Star Funds backed by newly originated nonprime mortgages received an A rating this week from DBRS and Fitch Ratings. The deal is the first post-crisis nonprime MBS to receive a credit rating and it will be the largest post-crisis nonprime MBS issued to date. The rating services stressed that while the mortgages originated by Lone Star’s Caliber Home Loans are generally nonprime, the underwriting on the loans is relatively strong. However, Fitch said it capped the rating at A due to the limited nonprime performance of Caliber and Hudson Americas, the asset manager for the MBS. “As more post-crisis non-prime performance is established while upholding appropriate controls, Fitch will consider...


June 3, 2016 - Inside Nonconforming Markets

Subprime Volume Indicators and Performance

A page of subprime and jumbo data.


June 3, 2016 - Inside Nonconforming Markets

More IOs Set to Recast, Fewer Defaults Expected

The upcoming batch of non-agency interest-only mortgages that will hit a 10-year recast is larger than the IO recast volume seen last year, according to Moody’s Investors Service. However, the rating service predicts that a spike in default rates prompted by the recasts will be less severe than that of 2015. “Default rates will likely stay below those of Alt A IO loans in non-agency mortgage-backed securities which re-cast to full payment in 2015 because of a slightly smaller expected ...


June 3, 2016 - Inside Nonconforming Markets

Bayview Focuses on Distinctive Underwriting

Officials at Bayview Loan Servicing note that the loans available to correspondents and brokers in the lender’s portfolio lending program allow borrowers shut out from agency mortgages to qualify. “All of the agency and qualified mortgage products that are out there look the same,” Ski Swiatkowski, vice president of portfolio product marketing at Bayview, said last week during a webinar hosted by the lender. Bayview, whose owners include affiliates of The Blackstone Group, offers five ...


June 3, 2016 - Inside MBS & ABS

Rumblings of Possible Activity in Nonagency (Nonprime) Securitization. A Bond Backed by ‘Fix & Flip’ Loans?

The nonagency, nonprime MBS market continues to generate plenty of interest among mortgage professionals, but the number of securities being generated – and contemplated – remains small. The situation isn’t likely to change anytime soon, but there are developments on the horizon that could spur an increase in issuance. According to interviews conducted by Inside MBS & ABS, the number of investors interested in buying nonprime whole loans is increasing. So far, the primary attraction is the higher yield offered by these non-Fannie Mae/Freddie Mac and FHA loans. Last year, roughly $2 billion in nonprime loans were originated...


May 20, 2016 - Inside Nonconforming Markets

Subprime Volume Indicators and Performance

A page of subprime and jumbo data.


May 20, 2016 - Inside Nonconforming Markets

Banks Seen as Key for Non-QM MBS

For the issuance of mortgage-backed securities with non-qualified mortgages to take off, industry analysts suggest that banks need to play a larger role. To this point, nonbanks have been the only issuers of non-QM MBS. Ron D’Vari and Timothy Bernstein, analysts at New Oak, authored an overview of non-QM MBS issued in the latest issue of The Journal of Structured Finance, which was published this month. The analysts said real estate investment trusts and hedge funds ...


May 19, 2016 - Inside Mortgage Finance

Mortgage Product Mix Little Changed in Early 2016, Refi Surge Bolstered Purchase Slump

All three major food groups in the contemporary mortgage market – government-insured, jumbo and conventional conforming – saw roughly the same drop in new originations from the fourth quarter of 2015 to the first three months of 2016, according to a new analysis by Inside Mortgage Finance. Production of loans with FHA, VA and rural housing guarantees held up a little better than the other sectors, with estimated originations slipping 1.0 percent from the fourth quarter. Although purchase mortgages account for a relatively higher share of originations in the government-insured market, there was a boost in refinance lending, especially in the VA program, that helped sustain overall production in the sector. The conventional-conforming and jumbo markets were...[Includes two data tables]


Poll

What is the very best source of new mortgage customers for your lending shop? (Choose one only.)

Leads provided to me by employer

13%

Paid internet/website leads

9%

Real estate agents/Realtors

31%

Homebuilders

6%

Our existing customer base/our servicing customers

19%

My own personal sales "leads" database

13%

Other

9%

Housing Pulse