Browse articles from all of our Newsletters related to MBS Characteristics.
December 2, 2016 - Inside FHA/VA Lending
Total FHA and VA originations increased during the first nine months of 2016 compared to the same period last year, although VA was more active, posting a double-digit production increase, according to an analysis of Ginnie Mae data. Lenders delivered $201.0 billion of FHA loans to Ginnie single-family mortgage pools over the last three quarters, up 4.8 percent from the previous year. Approximately 65.4 percent and 29.3 percent of FHA loans securitized were purchase loans and refinances, respectively. The remainder was loan modifications. VA originations totaled $143.2 billion over the same period, up 22.3 percent from last year. Refinances accounted for 51.9 percent of volume and purchase loans comprised 47.0 percent. The share of FHA loans in agency mortgage-backed securities for the nine-month period was 19.5 percent and 13.9 percent for VA. FHA loans accounted for ...
December 2, 2016 - Inside MBS & ABS
Securitization of residential and commercial loans with Property Assessed Clean Energy (PACE) assessments has been growing over the last few years despite having only a few market players, prompting analysts to predict continued growth for the PACE securities market. Residential PACE financing has increased to $2.9 billion with 130,000 home upgrades since 2010, according to second quarter 2016 data from industry group PACE Nation. Commercial PACE financing, meanwhile, has grown to $304 million with 820 commercial projects over the same period. Three programs accounted...
December 2, 2016 - Inside MBS & ABS
The Structured Finance Industry Group published recommendations this week for loan-level data disclosure for ABS backed by unsecured consumer loans originated by marketplace lenders. The proposal was the first in a planned series of Green Papers from the trade group that will seek to support responsible growth in the issuance of ABS from marketplace lenders. The best practices initiative, rooted in supporting the responsible growth of securitization in the marketplace sector, will seek to identify a framework of standards and work to identify gaps in application or understanding, SFIG said. The trade group said...
November 23, 2016 - Inside MBS & ABS
An affiliate of Bayview Asset Management is preparing to issue a non-agency MBS backed by nearly 5,000 vintage daily simple-interest mortgages, according to presale reports by DBRS and Fitch Ratings. If the deal is positively accepted by investors, theres the potential for more issuance as Bayview is servicing a somewhat large portfolio of the loans. The planned $241.2 million Bayview Opportunity Master Fund Trust 2016-SPL1 is stocked with mortgages originated about 10 years ago. The loans most of which have fixed interest rates have a weighted-average interest rate of 8.926 percent. The so-called DSI mortgages differ from a standard mortgage in the calculation of interest owed by the borrower. With a standard mortgage, interest owed is calculated...
November 18, 2016 - Inside MBS & ABS
Freddie Mac is set to issue a $459.92 million Whole Loan Securities transaction, according to a presale report from Moodys Investors Service. The firm didnt rate the senior tranche of the deal but did place a Baa1 rating on a mezzanine tranche of Freddie Mac Whole Loan Securities 2016-SC02. The government-sponsored enterprise priced the latest WLS transaction this week, with the deal expected to close next week. We are pleased with the pricing levels and depth of investor participation in the WLS program, said Kevin Palmer, senior vice president of credit risk transfer at Freddie. We look forward to continued issuance in 2017. Freddie has issued...
November 4, 2016 - Inside FHA/VA Lending
Most loan characteristics for FHA and VA mortgages securitized by Ginnie Mae during the third quarter were consistent with prior periods, though there was an uptick in average loan size. In the FHA space, the average loan amount rose 2.9 percent during the third quarter to $193,352. For VA loans pooled in third-quarter Ginnie mortgage-backed securities, the average rose 2.0 percent to $257,772. That is...[Includes three data tables]
- GSE Private MI Profile 3Q16
- GSE Seller Profile 3Q16
- Top 20 Lender Profiles 2Q16
- Mortgage Profitability 2Q16
- Top Players 2Q16
- GSE Repurchase Activity Thru 2Q16
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