Angel Oak Capital Advisors saw stronger than expected demand from investors for a fund that focuses on non-qualified mortgages. AOCA announced last week that the private fund closed to new investors after raising $291 million, exceeding the initial goal of $250 million.
Ginnie Mae is redefining the term “defective mortgage” to remind issuers of their obligations when confronted by a home loan that does not have federal insurance or a guarantee. The action also clarifies options issuers may consider in dealing with defective mortgages.
A planned MBS from affiliates of New Residential Investment received much higher ratings than a similar deal issued by the firm in 2016. The deals are backed by the excess spread tied to servic-ing rights on non-agency mortgages.
Critical components of loan structural quality in the commercial MBS space seem to be deteriorating, particularly when it comes to single-borrower deals, according to a new report from Moody’s Investors Service.
The government-sponsored enterprises both ended 2017 with record-setting numbers in the mul-tifamily market. Freddie Mac issued $68.0 billion in multifamily securities last year, up from $51.2 bil-lion the previous year.
Issuance of non-agency mortgage-backed securities backed by new originations increased on an annual basis in 2017, with gains from prime jumbo MBS and expanded-credit MBS, according to a new ranking and analysis by Inside Nonconforming Markets. A total of $10.88 billion of prime jumbo MBS was issued during the year, up 16.7 percent from 2016. Expanded-credit MBS – which include mortgages with alternative documentation, non-qualified ... [Includes one data chart]
Redwood Trust is set to issue two prime jumbo mortgage-backed securities in January, according to presale reports published this week. Issuance of two similar deals in quick succession by one firm is relatively uncommon, but Redwood appears to see strong demand from investors and has mortgages to sell. Sequoia Mortgage Trust 2018-1, a $341.25 million issuance, is scheduled to close on Jan. 19. A $462.01 million MBS, Sequoia Mortgage Trust 2018-2, is penciled in for Jan. 25 ...
After issuing nonprime mortgage-backed securities with post-crisis record-breaking sizes, the latest deal from Lone Star Funds will be slightly smaller. The firm is set to issue a $401.21 million nonprime MBS this month, according to presale reports by DBRS and Fitch Ratings. COLT 2018-1 Mortgage Loan Trust follows a $426.18 million issuance from Lone Star in September. That was the largest nonprime MBS backed by post-crisis originations. All of the loans in the previous issuance ...
DoubleLine Capital, an investor in non-agency mortgage-backed securities, established an entity in recent months with plans to issue non-agency MBS. The issuance and related activities will be conducted via the new Mortgage Opportunities Capital, according to filings with the Securities and Exchange Commission. The filings were completed in October but didn’t gain prominence until a recent story published by Bloomberg. Jeffrey Gundlach, DoubleLine’s CEO, initially pushed back ...
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