SG Capital Partners is set to issue its first rated nonprime mortgage-backed security after bringing to market some unrated deals in recent years and aggregating loans in a rated nonprime MBS issued by a competitor. Morningstar Credit Ratings and S&P Global Ratings assigned preliminary AAA ratings to the planned $140.1 million SG Residential Mortgage Trust 2018-1 last week. Somewhat unusually, the rating services came up with different figures on the share of non-qualified mortgages ...
An affiliate of Invictus Capital Partners is set to issue a unique non-agency mortgage-backed security backed by loans on investor properties that differs from the structure of typical single-family rental deals. Invictus’s Verus Mortgage Capital predominantly focuses on non-qualified mortgages and has issued deals backed by non-QMs along with a sprinkling of mortgages on investment properties. Many other nonprime MBS issuers have brought similar deals. The planned $258.4 million ...
Redwood Trust is set to issue a “bespoke” prime non-agency mortgage-backed security. The deal largely looks like other MBS from Redwood, but a spokesperson for the real estate investment trust said the MBS was tailored for one investor. Kroll Bond Rating Agency placed preliminary ratings on the planned $338.7 million Sequoia Mortgage Trust 2018-4 last week. The deal is scheduled to close on April 20. There are only minor differences between the MBS and three other ...
The steamship that is the nonbank share of the mortgage servicing market showed no signs of changing course in the early months of 2018, a new Inside Mortgage Finance analysis reveals. [Includes two charts.]
Back in July 2017, Fannie revised its automated underwriting system to accept loans with DTI ratios over 45 percent without lenders having to show other compensating factors…
RSS