Subprime Mortgages

Browse articles from all of our Newsletters related to Subprime Mortgages.

July 24, 2015 - Inside Nonconforming Markets

Subprime Volume Indicators and Performance

A page of subprime and jumbo data.

July 24, 2015 - Inside MBS & ABS

Angel Oak Provides an Update on Its Non- Agency Securitization Plans, Well Sort Of…

Angel Oak Home Loans is still contemplating issuing a security backed by non-agency, non-prime mortgages, but the company’s original self-imposed deadline of July is not going to happen, according to officials familiar with the Atlanta-based originator. As reported by Inside MBS & ABS last month, Angel Oak had been shopping around a roughly $100 million package of nonprime whole loans to several investors. It’s unclear whether any of the portfolio traded. The fact that the lender had been trying...

July 23, 2015 - Inside Mortgage Finance

M&A Roundup: More MSR Deals Hit the Market; Sale Of RoundPoint Mortgage Uncertain; Deal or No Deal?

Several large servicing portfolios of $1 billion or more hit the market in the past few weeks, but dealmakers and investors continue to wonder about the largest prize of them all: RoundPoint Mortgage, Charlotte, NC, which owns roughly $52.18 billion of receivables and ranks among the top 25. Investment banking officials who claim to have knowledge of the RoundPoint situation maintain that its owner, The Tavistock Group, is hell-bent on selling the nonbank, but as far as coming to final terms with a buyer, any buyer, that’s a different matter. It’s...

July 17, 2015 - Inside MBS & ABS

Non-Mortgage ABS Issuance Up Slightly in 2Q15, Big Gains In Vehicle Deals, Credit Cards and Student Loan Sectors

New issuance of non-mortgage ABS increased in most major product categories during the second quarter of 2015, although a slowdown in floorplan deals dampened the party slightly. The ABS market generated $54.15 billion in new issuance during the second quarter, a gain of 5.8 percent from the first three months of 2015. It was the strongest new issuance figure since the financial market meltdown, with the previous high ($54.22 billion) coming in the third quarter of 2007. ABS issuance has climbed...[Includes two data tables]

July 10, 2015 - Inside Nonconforming Markets

Subprime Volume Indicators and Performance

A page of subprime and jumbo data.

July 10, 2015 - Inside Nonconforming Markets

News Briefs

Underwriting standards for jumbo mortgages tightened for the second consecutive month in June, according to the Mortgage Bankers Association. The MBA’s credit availability index for jumbos was slightly below the post-crisis peak set in April. The government-sponsored enterprises and Common Securitization Solutions announced this week that eight organizations will be included in an advisory group regarding the common securitization platform ... [Includes three briefs]

July 10, 2015 - Inside MBS & ABS

Hedge-Fund Adviser Agrees to Pay $5 Million to SEC To Resolve Fraudulent Fund-Valuation Allegations

No matter how cleverly hidden, the Securities and Exchange Commission can eventually ferret out bad business practices – a costly lesson learned by AlphaBridge Capital Management. The SEC ordered AlphaBridge, a registered hedge-fund adviser, and two of its principals to pay a $5 million penalty for allegedly inflating the prices of illiquid MBS held in hedge-fund portfolios managed by the firm. The SEC charged...

July 10, 2015 - Inside MBS & ABS

PIMCO’s Designs on the Mortgage Business Are Getting Clearer. The MBS Angle?

Bond investing giant Pacific Investment Management Co., commonly known as PIMCO, is getting more serious about buying a mortgage franchise and has zeroed in on a mid-sized nonbank, according to industry officials who claim to have knowledge of the talks. But it’s not mortgage banking, per se, that PIMCO is ultimately interested in – it’s the MBS market. “PIMCO has been in the MBS game for many years, so I would think this is possible,” said industry consultant Paul Hindman. Hindman has...

July 10, 2015 - Inside MBS & ABS

Non-Agency MBS Issuance Slumped in 2Q15 In All Three Active Production Categories

New production of non-agency MBS declined sharply from the first quarter to the second quarter of 2015, although year-to-date issuance suggests that 2015 could top last year’s total output. Just $13.92 billion of non-agency MBS were issued during the second quarter, a 40.0 percent tumble from the first three months of the year. The first quarter of 2015 was the biggest quarter in non-agency MBS issuance since the second quarter of 2009. The biggest components of the market have been...[Includes three data tables]

July 9, 2015 - Inside Mortgage Finance

Despite Rising House Prices and Higher Rates, Housing Remains Affordable But Underwriting Crimps Originations

Home prices remain below their peak levels and mortgage interest rates are well below where they were prior to the financial crisis. However, mortgage originations since 2008 have been significantly below the levels seen in years prior as tight underwriting standards have limited production. “Home prices are still very affordable by historical standards, despite increases over the last three years,” the Urban Institute’s Housing Finance Policy Center noted in a recent report. “Even if interest rates rose to 6.00 percent, affordability would be at the long term historical average.” Black Knight Financial Services added...

June 26, 2015 - Inside Nonconforming Markets

Subprime Volume Indicators and Performance

A page of subprime and jumbo data.

June 26, 2015 - Inside Nonconforming Markets

Bank Holdings of Non-Agency MBS Dwindle

With issuance of non-agency mortgage-backed securities unable to keep pace with disappearing volume from vintage deals, bank and thrift holdings of non-agency MBS continue to decline. The holdings were down somewhat more than usual in the first quarter of 2015, suggesting sales by some banks. Banks and thrifts held $111.48 billion in non-agency MBS as of the end of the first quarter of 2015, according to the Inside Mortgage Finance Bank Mortgage Database. The holdings declined by 16.1 percent compared with the first quarter of 2014, including an 11.0 percent decline compared with the fourth quarter of 2014 ... [Includes one data table.]

June 25, 2015 - Inside Mortgage Finance

Fair Lending Expectations Are Shifting From Pricing Toward Greater Access, Experts Say

A number of recent headline-generating fair lending settlements may have focused largely on issues of pricing disparities, but there has been a sea change among policymakers these days moving in the direction of greater access to mortgage credit, some industry experts say. During an Inside Mortgage Finance webinar this week, Jeffrey Naimon, a partner in the Washington, DC, office of the BuckleySandler law firm, said the industry is seeing a pendulum swing from the focal point of concern being loan pricing to loan access. “Especially during the time when subprime loans were available, there was a lot of concern that minority borrowers were being steered into higher-cost subprime loans,” he told attendees. “The adoption of the loan originator compensation rule by the Consumer Financial Protection Bureau affected...


A lot has been written about the ‘Millennial Generation’ being key to the future of the housing/mortgage market, but how much of your mortgage workforce includes Millennials – those born roughly between the years 1980 to 1999?

Less than 10 percent


11 to 30 percent


Greater than 30 percent


It’s so small we can’t even measure it.


We’re tired of reading about how important Millennials are…


Housing Pulse