Subprime Mortgages

Browse articles from all of our Newsletters related to Subprime Mortgages.

September 21, 2018 - Inside Nonconforming Markets

Average Jumbo Mortgage Interest Rates and Mortgage Performance

A page of jumbo data and the performance of non-agency mortgage-backed securities.


September 21, 2018 - Inside Nonconforming Markets

Deephaven Brings its Largest Nonprime MBS

Deephaven Mortgage is preparing to issue its largest nonprime mortgage-backed security to date, according to presale reports published this week. The planned $326.1 million Deephaven Residential Mortgage Trust 2018-3 will top a $308.2 million deal the firm issued in January. Mortgages in the new deal look similar to previous issuance from Deephaven. The loans have a weighted-average credit score of 700, an average combined loan-to-value ratio of 72.7 percent and an average ...


September 7, 2018 - Inside Nonconforming Markets

Average Jumbo Mortgage Interest Rates and Mortgage Performance

A page of jumbo data and the performance of non-agency mortgage-backed securities.


September 7, 2018 - Inside Nonconforming Markets

Strong Performance for Nonprime Mortgages

Nonprime mortgages are performing better than expected and prepayment rates remain elevated, according to industry analysts. Fitch Ratings noted that 60+ day delinquency rates on nonprime mortgages in post-crisis mortgage-backed securities rated by the firm were less than 4.00 percent as of August. “The performance of Fitch-rated nonprime transactions has outperformed initial projections,” the rating service said. The average conditional prepayment rate ... [Includes one data chart]


September 7, 2018 - Inside Nonconforming Markets

Assessments of Caliber’s Documentation Differ

Rating services are divided on whether the income documentation used by Caliber Home Loans qualifies as full documentation. The differences are apparent in a pending $342.6 million issuance from Lone Star Funds, which is stocked with mortgages from Caliber. According to Fitch Ratings, Lone Star is the only current issuer of nonprime MBS to keep mortgages with nontraditional income-documentation out of its deals. The rating service said 99.4 percent of the dollar volume of the loans ...


August 24, 2018 - Inside Nonconforming Markets

Average Jumbo Mortgage Interest Rates and Mortgage Performance

A page of jumbo data and the performance of non-agency mortgage-backed securities.


August 24, 2018 - Inside Nonconforming Markets

Ellington Plots Next Non-QM MBS

Ellington Financial could issue its second mortgage-backed security backed by non-qualified mortgages before yearend, according to officials at the nonbank. “We are nearing critical mass of product for a follow-on securitization and plan for that later this year, subject, of course, to market conditions,” said Laurence Penn, Ellington’s CEO and president. At the end of the June, Ellington held $150.2 million of non-QMs. Mark Tecotzky, co-CIO at Ellington, noted that the firm is increasing ...


August 24, 2018 - Inside Nonconforming Markets

Starwood, Impac Happy with Non-QM MBS

Starwood Property Trust plans to be a regular issuer of mortgage-backed securities backed by non-qualified mortgages after successfully closing its first deal this week. Loans in the $374.1 million issuance were sourced from Impac Mortgage Holdings, which is working to increase non-QM production, delivering the loans to Starwood and potentially other outlets. Jeffrey DiModica, president of Starwood Property Trust, said the real estate investment trust expects to be a “frequent issuer” ...


August 24, 2018 - Inside Nonconforming Markets

Angel Oak Sees Strong Demand for Latest MBS

The $395.8 million nonprime mortgage-backed security Angel Oak Capital Advisors closed this week was met with strong demand from investors, according to the firm. “We believe that, relative to other recent [non-qualified mortgage] transactions, the tight pricing of AOMT 2018-3 demonstrates that investors have the confidence in and demand for the Angel Oak securitization program,” said Lauren Hedvat, a managing director of capital markets at Angel Oak. Pricing spreads ...


August 17, 2018 - Inside Mortgage Trends

GSE Sellers Continued to Stretch the Credit Box – Incrementally – in 2Q18

Mortgage lenders became slightly more daring in terms of the credit characteristics of the loans they sold to Fannie Mae and Freddie Mac during the second quarter of 2018, according to an exclusive new Inside Mortgage Trends analysis and ranking. [Includes two data charts.]


Poll

Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.
The wholesale/table funder. They’re taking the financial risk.
The broker, but only for the first year. After that, the borrower is fair game.
Hard to answer. It’s a complicated issue.

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