Issuance of non-agency mortgage-backed securities with prime jumbo loans and expanded-credit mortgages flourished in the first quarter of 2018, according to a new ranking and analysis by Inside Nonconforming Markets. Combined, $6.28 billion of such securities was issued, more than double the activity in the first quarter of 2017 and up 24.6 percent from the fourth quarter of last year. Some $4.23 billion of prime jumbo MBS was issued during ... [Includes one data chart]
Angel Oak Capital Advisors issued a $328.76 million nonprime mortgage-backed security this week, its biggest so far. Its previous high was a $210.45 million offering in July. DBRS and Fitch Ratings assigned AAA ratings to Angel Oak Mortgage Trust I, LLC 2018-1. The deal included credit enhancement of 35.6 percent on the senior tranche, somewhat lower than previous issuance from Angel Oak. Fitch said Angel Oak has strong underwriting and risk management practices, which ...
The first jumbo mortgage-backed security from loanDepot is set to close April 6. After a span where the nonbank contributed to jumbo MBS issued by other firms, loanDepot set up its own securitization shelf. The $299.83 million Mello Mortgage Capital Acceptance 2018-MTG1 was stocked with non-agency jumbos along with conforming jumbos eligible for sale to the government-sponsored enterprises. The deal received AAA ratings from DBRS and Moody’s Investors Service with ...
JPMorgan Chase is preparing to issue a non-agency mortgage-backed security stocked entirely with loans eligible for sale to the government-sponsored enterprises. While Chase has long included GSE-eligible loans in its non-agency MBS, the deals generally also include non-agency jumbo mortgages. The mortgages in the $313.56 million deal largely look to be conforming jumbos. The loans have an average balance of $527,877. Fitch Ratings noted that the collateral attributes of the pool are ...
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