An affiliate of Bayview Asset Management is preparing to issue a unique non-agency mortgage-backed security, according to a presale report by DBRS. The firm plans to package close to 5,000 “daily simple interest” mortgages originated about 10 years ago into a $241.2 million issuance.

Fannie Mae and Freddie Mac have sold more than 59,629 nonperforming loans with a total unpaid principal balance of $11.9 billion, through August 2016, according to a new Federal Housing Finance Agency report.

Tim Howard, former Fannie Mae CFO, called Fannie Mae’s and Freddie Mac’s credit risk transfer program “exercises in deception.”

According to Fannie’s website, the moratorium on bulk MSR transfers does not affect concurrent transfers.

In addition, each programming change would need to be tested…

The September figures represented a 5.7 percent increase from the midway point in the year and an 8.8 percent climb from a year ago.

Purchase mortgages accounted for 67.3 percent of the $4.07 billion in prime non-agency MBS issued during the quarter...

And there’s a school of thought that says rates have risen too quickly and by too much...

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...

KBRA said the borrowers have strong credit profiles, significant home equity, and a weighted-average credit score of 760.