Analysts expect SoFi’s first consumer loan securitization of 2022 to perform “very well” from a credit quality perspective. The ABS is stocked with collateral seasoned for a longer than usual period.
An MBS stocked solely with home-equity lines of credit; KBRA assigns rating to an $808.2 million CMBS conduit transaction; S&P settles with SEC; a new ETF focused on mortgage assets.
The nonbank’s margin plunged to negative 110 basis points in the third quarter, compared to 14 bps in the April-June period and down from 287 bps in the third quarter of 2021.
The real estate investment trust for now is focusing on managing liquidity and protecting its capital structure. Angel Oak Mortgage purchased only $62.4 million of non-QMs in the third quarter.