An affiliate of Balbec Capital brought three deals in March alone with another set to begin marketing shortly. Goldman Sachs and Citi also issued non-agency MBS with reperforming loans.
GSE watchers believe that, to appropriately compensate the taxpayer for their government guarantee, Fannie and Freddie would have to pay a commitment fee as high as $46 billion a year.
loanDepot to issue its 11th mortgage warehouse securitization; Gray Media expands television securitization; Hooters bankruptcy could impact whole-business securitization.
Housing finance aficionados like the prospect of a GSE exit from conservatorship that includes the retention of the Treasury’s PSPA, especially if done in conjunction with a sovereign wealth fund.
Moody’s proposed using two home-price forecasts when assessing loans in residential MBS. Currently, the rating service uses one fairly conservative forecast for home prices.
On some recently issued expanded-credit MBS, servicing fees have been as low as 5 basis points. S&P and some other rating services review deals applying assumptions for higher servicing fees.
It will be the 11th issuance of its type by loanDepot.
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