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Volume 2014 - Number 10

March 14, 2014

Nationstar Affiliate to Issue Servicer Advance ABS, Deals Are Attractive Despite Regulatory Scrutiny

An affiliate of Nationstar Mortgage is preparing to issue an ABS backed by servicer advances and deferred servicing fee receivables, continuing a trend of nonbank servicers fueling their growth via securitization. Industry analysts suggest that the deals offer good returns to investors, even with regulators increasing their scrutiny of nonbanks. The $1.96 billion servicer advance ABS from New Residential Investment is expected to close on March 18, according to a presale report by Standard & Poorís. The deal is set to receive a AAA rating from the rating service. ďBased on the nature of the assets which historically display high recovery typically at the top of the waterfall, we would view...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.



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The year is almost 75% done. How is mortgage origination volume at your shop?

We will fund about the same as we did in 2016.
We will fund more than last year – by a little.
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We will fund less than last year – by a little.
We will fund less than last year – by a lot.

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