The deal received preliminary AAA ratings from Moody’s Investors Service and S&P Global Ratings, with credit enhancement of 13.75% on the senior tranche.

Fun fact: Among the nation’s top 20 residential servicers in 2Q20, just six were depositories...

Redwood generated $165 million of net income in the second quarter after posting a $943 million loss in 1Q20...

According to the S-1 initial public offering documents filed with the SEC, Rocket’s total share count (public and private) is roughly 1.9858 billion shares. At $22 a unit (the upper end of the range) that works out to a cool $43.69 billion. In short: Wow.

Angel Oak's Tom Hutchens: “We’ve got our footing under us and we’re excited about the future"...

While most non-agency MBS servicers specialize in handling either prime mortgages or expanded-credit loans, Shellpoint services large volumes of both loan types.

The vehicle-finance sector hit a pothole as new issuance skidded 26.0% from the first quarter to $21.61 billion. But that represented 62.9% of new ABS production for the second quarter.

In general, the nature of the non-agency market makes it difficult to standardize practices across the industry, let alone in individual MBS.

Lenders across the nation are taking a close look at their jumbo underwriting standards, including market leader Wells Fargo...

Some 10.1% of loans in the deal are in forbearance and another 1.8% have received deferrals.