MBS, ABS Issuance

Browse articles from all of our Newsletters related to MBS, ABS Issuance.

December 8, 2017 - Inside MBS & ABS

Issuance of Non-Agency MBS Backed by Non-QMs Set to Take Off in 2018, Including Nonprime and Prime Loans

The dollar volume of non-agency MBS backed by non-qualified mortgages could double or even triple next year, according to industry analysts. The increased issuance is expected to come from nonprime and prime borrowers who don’t qualify for conforming mortgages.


December 8, 2017 - Inside MBS & ABS

Agency MBS Issuance Up Slightly in November As Freddie Mac Notches Another Big Month

Issuance of agency single-family MBS was up modestly in November, stemming a two-month slide in production, according to a new Inside MBS & ABS ranking and analysis.


December 8, 2017 - Inside MBS & ABS

MBS & ABS Issuance at a Glance

One page of issuance data.


December 1, 2017 - Inside MBS & ABS

MBS & ABS Issuance at a Glance

One page of issuance data.


December 1, 2017 - Inside MBS & ABS

Velocity Commercial Capital Finds Success with CMBS Backed by Mix of Residential Investment Properties

Velocity Commercial Capital is preparing to issue its second commercial MBS of the year backed by mortgages on residential investment properties and smaller commercial properties. The issuer’s deals have experienced some delinquencies but losses have been minimal.


December 1, 2017 - Inside MBS & ABS

Wide Variety in ABS Backed by Proceeds From Residential Mortgage Servicing Rights

Some servicers in recent years have tapped the securitization market to help finance the purchase of mortgage servicing rights. Structures for deals from three nonbanks have varied significantly, ac-cording to an analysis by Moody’s Investors Service.


November 22, 2017 - Inside MBS & ABS

MBS & ABS Issuance at a Glance

One page of issuance data.


November 17, 2017 - Inside MBS & ABS

MBS & ABS Issuance at a Glance

One page of issuance data.


November 10, 2017 - Inside FHA/VA Lending

Will Net Tangible Benefit Test Stop Churning? Yes, Analysts Say

A new net tangible benefit test for ensuring that a VA borrower benefits from a refinancing appears to be the obvious solution to the VA’s churning problem, according to analysts at Bank of America Merrill Lynch (BAML). Modeled after the FHA net tangible benefit test, the test seems to be a “foregone conclusion” for VA, analysts said. A Ginnie Mae/VA task force is currently working to resolve the problem, which is causing rapid prepayments in Ginnie mortgage-backed securities and raising serious doubts as to whether aggressive refinancing truly benefits veterans and servicemembers. “There is a critical need to ensure that veteran borrowers are not harmed by repeated refinancings through VA’s Interest Rate Reduction Refinance Loan program,” said Mortgage Bankers Association President/CEO David Stevens during a recent appearance before the House Financial Services Committee. IRRRLs, also referred to ...


November 10, 2017 - Inside FHA/VA Lending

Correspondent Platforms Feast on FHA, VA Securitization Market

Correspondent-based lending operations are accounting for a growing share of the FHA and VA home loans pooled in Ginnie Mae mortgage-backed securities, according to a new analysis and ranking by Inside FHA/VA Lending. In fact, correspondent originations are the only production channel to see year-over-year growth in FHA and VA business through the first nine months of 2017. Retail and wholesale-broker production is down for both FHA and VA loans. Correspondent programs are most dominant in the FHA market, perhaps reflecting a preference among large producers to have recourse to a primary-market lender if the government later finds defects in how the loan was originated. Correspondents accounted for 48.7 percent of FHA loans pooled in Ginnie MBS during the first nine months of the year, up from 43.1 percent in all of 2016. Volume was up 1.7 percent from the ... [Charts]


November 10, 2017 - Inside MBS & ABS

Secured Overnight Financing Rate Seen as Good LIBOR Replacement by MBS/ABS Participants

With uncertainty regarding whether the London Interbank Offered Rate will continue to be pub-lished after 2021, the Federal Reserve is considering establishing an alternative reference rate for indus-try participants.


November 10, 2017 - Inside MBS & ABS

Effort to Include a Deal Agent in Non-Agency MBS Moves Forward with Development of Key Performance Indicators

The Structured Finance Industry Group this week unveiled key performance indicators (KPIs) for deal agents to track in new non-agency MBS. The measurements were developed by a group of in-dustry participants to help guide deal agents in protecting MBS investors.


November 10, 2017 - Inside MBS & ABS

Commercial Mortgage Securitization Activity Surged In 3Q17, Big Gains in Agency and Private Markets

New issuance of MBS backed by income-property mortgages jumped sharply in the third quarter of 2017, hitting levels not reached in over a decade, according to a new Inside MBS & ABS analysis.


November 10, 2017 - Inside MBS & ABS

MBS-ABS-Issuance-11-10-2017

One page of issuance data.


November 10, 2017 - Inside Nonconforming Markets

Nonprime Lenders Aim to Avoid Risk Layering

Nonprime lenders allow credit scores as low as 500 and loan-to-value ratios up to 90.0 percent, but new originations don’t typically reach such extremes. According to an analysis by Inside Nonconforming Markets, the average credit score on loans in nonprime/Alt A mortgage-backed securities issued in recent years was 701.1. The average combined LTV ratio for the loans was 74.9 percent and the average debt-to-income ratio was 37.0 percent. The analysis ... [Includes one data chart]


November 3, 2017 - Inside MBS & ABS

MBS & ABS Issuance at a Glance

One page of issuance data.


November 3, 2017 - Inside MBS & ABS

Private-Equity Firm to Issue a Non-Agency MBS Backed By Mortgages on Residential Investment Properties

American Mortgage Investment Partners Management is set to issue a relatively rare non-agency MBS backed by individual mortgages on residential investment properties. The private-equity fund is preparing to issue a deal named RCO 2017-INV1 Trust, according to documents filed last week with the Securities and Exchange Commission. Investors that use mortgages to purchase residential properties typically use financing backed by Fannie Mae or Freddie Mac. But the ...


November 3, 2017 - Inside MBS & ABS

Tesla Brings ABS Backed by Residential Solar- Power Installations, Deal Receives A- Rating

Tesla Energy is preparing to issue a $344.0 million ABS backed by proceeds from solar-power generating systems on residential properties. The planned TES 2017-1, LLC, Series 2017-1 received an A- rating from Kroll Bond Rating Agency last week. The transaction is secured by proceeds on a portfolio of 33,499 leases and power-purchase agreements associated with solar photovoltaic systems. The leases and PPAs were originated by SolarCity, which does business under ...


November 3, 2017 - Inside MBS & ABS

Unexpected Surge in Freddie Production Helped To Steady Agency MBS Issuance in October

New issuance of agency single-family MBS in October was almost even with the previous month, but there was a sharp swing of market share between the two government-sponsored enterprises, according to a new Inside MBS & ABS ranking and analysis. Total new MBS issuance by Fannie Mae, Freddie Mac and Ginnie Mae came to $113.99 billion last month, a modest 0.5 percent decline from September. But while Fannie production slumped 11.5 percent, Freddie ... [Includes two data charts]


Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.
No. It’s still difficult compliance/regulatory-wise.
Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

vote to see results