Securitization of non-agency prime and Alt A mortgages ramped up significantly in the first quarter, although subprime MBS issuance dropped to its lowest level since 2017. RPL/NPL transactions remained the biggest component in the non-agency MBS market. (Includes three data charts.) Read More
Most of the increase in Ginnie loan removals came from borrower payoffs, but servicer buyouts for loss mitigation and foreclosure rose sharply. (Includes data chart.) Read More
“Issue debt while you can.” That seems to be the mantra of nonbank mortgage lenders and even real estate mortgage investment trusts. The latest sellers: UWM and PennyMac. Read More
What a difference a year can make. Last spring, the REIT was getting margin-called and selling MBS. Today, it’s buying huge mortgage banking franchises. Read More
Mass cancellation of student loans could lower maturity risk on ABS backed by Federal Family Education Loan Program loans, according to Fitch Ratings. Read More
Legislation to impose taxes on mezzanine debt and preferred equity investments, payable by building owners, is still a possibility in New York state. Trouble for the multifamily sector? Read More