The market for jumbo mortgage-backed securities looks to be regaining some momentum as Shellpoint Partners plans to resume issuance and market-leader JPMorgan Chase prepares another deal. Shellpoint’s New Penn Financial is set to issue a $353.68 million jumbo MBS next week, according to presale reports by Kroll Bond Rating Agency and Moody’s Investors Service. Shellpoint Co-Originator Trust 2016-1 will mark the first issuance from the MBS shelf since ...
Pricing has improved sequentially with each of the three jumbo mortgage-backed securities Redwood Trust has issued this year, according to officials at the real estate investment trust. Redwood’s most recent deal, a $343.16 million jumbo MBS, was issued in October. Christopher Abate, Redwood’s president and CFO, said it’s possible that the REIT will issue another jumbo MBS this year. Marty Hughes, Redwood’s CEO, added a caveat about uncertainty in the financial markets ...
A start-up is working to allow retirees and other individual investors to buy into non-qualified mortgages, a market that so far has been dominated by hedge funds and other large institutional investors, along with occasional inclusion in non-agency mortgage-backed securities. Brad Walker, CEO of Income&, said the new platform offers an alternative to traditional fixed-income investments. He said Income& is trying to create a higher-yielding, lower-risk fixed-income instrument ...
The Structured Finance Industry Group published the fourth edition of its “RMBS 3.0 Green Papers” this week. The trade group said it will release a fifth edition of the Green Papers in the coming weeks. The latest papers address various issues in the non-agency mortgage-backed security market, including representations and warranties, the concept of a deal agent and data disclosure. Moody’s Investors Service this month withdrew its assessment of ... [Includes two briefs]
In the refinance market, the share of loans falling into the low-score/high LTV group was 2.57 percent, down from 2.86 percent in the second quarter...