Noting strong demand for non-agency MBS, issuers are getting creative with the types of loans they package into deals. JPMorgan, Credit Suisse, Angelo Gordon and Goldman Sachs are all entering new sectors.
It may seem counterintuitive, but MBS backed by reperforming loans, and thus not eligible to be traded in the to-be-announced market, are the ideal assets in collateralized mortgage obligation deals. According to a report from Stifel’s fixed income strategy division, the reason is simple — most modified loans are unlikely to be refinanced as they have “a unique and desirable prepayment profile.” Borrowers with modified loans have already had their rates dramatically reduced. They're unlikely to ...
New York-based real estate investment trust MFA Financial is working on two separate non-QM- related MBS deals that could come to market sometime this spring, according to officials familiar with the transactions.
Wells Fargo’s second post-crisis jumbo MBS differs from the one it issued in October. The new deal is substantially larger than the previous issuance and the lineup of three rating services is somewhat different.
RSS