Guess What? Credit Rating Shopping is Still Going On – Mostly in the CMBS Sector October 3, 2014 Brandon Ivey Calvin Wong of Morningstar noted that rating shopping is most obvious in the commercial MBS marketRead More
New Jumbo MBS From JPM Has Highest Average (Post-Crisis) Combined LTV October 1, 2014 Brandon Ivey The senior tranche on the Chase jumbo deal has credit enhancement of 9.90 percent.Read More
Short Takes: Top FHFA Regulator Bolts Agency for Private Sector / Why Did Walter’s Stock Get Hammered? / Community Banks Apparently Love Non-QMs / Homewood Introduces Stated-Income Product / Another Bite at the Refi Apple? October 1, 2014 Brandon Ivey and Paul Muolo Investors have been scratching their heads over the downdraft at Walter/Green Tree...Read More
WinWater Set to Issue Its Second Jumbo MBS; LTV Ratios Creeping Up September 30, 2014 Brandon Ivey The merger-hungry RPM Mortgage of California is the top contributor to the jumbo MBS with a 14.3 percent share.Read More
Higher-Priced Mortgage Lending on the Rise? September 30, 2014 Brandon Ivey While higher-priced lending is on the rise, pricing on these originations isn’t nearly as high as it was in the subprime boom.Read More
Jumbo MBS with Originations Sourced by Five Oaks in the Works September 29, 2014 Brandon Ivey Five Oaks plans to buy some of the subordinate tranches of the new jumbo MBS.Read More
Short Takes: CFPB Slams Flagstar Over Mods / No, a New Mortgage Trade Group is NOT Forming / BofA Transferring MSRs to Shellpoint / Merger of Two FHLBs an Aberration? / NJ Senator Intros Share-Appreciation Mortgage Bill September 29, 2014 Brandon Ivey, Paul Muolo, and Charles Wisniowski Sources close to the matter noted that Ocwen is involved, but it’s not a trade group.Read More
Treasury Sees a ‘Benchmark’ Non-Agency MBS as Potential Spur for Market September 26, 2014 Brandon Ivey The Treasury Department will have a key role in developing a $1 billion "test" non-agency security.Read More
Principal Reduction Loan Modifications Fall Out of Favor with Banks September 26, 2014 Brandon Ivey The megabanks also decreased their use of interest rate reductions on loan modifications...Read More
Special Servicing Likely to Stick with Nonbanks, Plenty of Room for Growth September 24, 2014 Brandon Ivey “Banks are really bad at servicing nonperforming loans,” said Jon Wishnia, a partner at the law firm of Lowenstein Sandler. Read More