The $395.8 million nonprime mortgage-backed security Angel Oak Capital Advisors closed this week was met with strong demand from investors, according to the firm. “We believe that, relative to other recent [non-qualified mortgage] transactions, the tight pricing of AOMT 2018-3 demonstrates that investors have the confidence in and demand for the Angel Oak securitization program,” said Lauren Hedvat, a managing director of capital markets at Angel Oak. Pricing spreads ...
The latest non-agency mortgage-backed security from JPMorgan Chase will include a higher share of conforming mortgages than the previous issuance from the firm. Chase is preparing to issue a $999.0 million MBS, according to presale reports from DBRS, Fitch Ratings and Moody’s Investors Service. Mortgages eligible for sale to the government-sponsored enterprises account for 65.1 percent of the collateral, amounting to $650.3 million. GSE-eligible mortgages ...
Coworking is playing a more significant role in commercial real estate, posing new challenges to underwriting and valuation standards for the commercial MBS, rating services said.
The Australian-based Computershare Limited – a behind-the-scenes player worldwide in stock registration and trades – has agreed to purchase LenderLive Network, a mortgage fulfillment and secondary marketing vendor, for an undisclosed sum.
The securitization and mortgage banking industries heaved a collective sigh of relief after aMaryland appeals court ruled earlier this month that state licensing requirements do not apply to “foreign” statutory trusts.
The Federal Housing Finance Agency this week stopped Fannie Mae and Freddie Mac from financing corporate landlords that buy single-family rental properties – sometimes in bulk – declaring that SFR operators do not need the “liquidity provided by the enterprises.”
Among the tranches of residential MBS issued this year that received ratings from multiple firms, nearly 40.0 percent of the bonds had so-called split ratings, with different assessments by different rating services.
Commercial banks and savings institutions added to their holdings of non-mortgage ABS during the second quarter but still play a relatively minor role in the market. [Includes two charts.]
Fannie Mae came under heavy criticism from certain elected officials and affordable housing advocates for extending $1 billion in financing to Invitation Home Loans, an SFR operator that’s publicly traded.
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