Mortgage securitizations from Freedom Mortgage and New Residential Investment are backed by servicing fees, while Rapid Financial Services is peddling its first small-business ABS since 2018.
During a Capitol Hill hearing, House Democrats focused on credit rating shortcomings that allowed for the subprime crisis of 2007-2008 and inadequate reforms that followed.
One of the five draft bills proposed by the House Democrats this week seeks to establish a board that would be responsible for assigning rating services to provide grades on MBS and ABS.
After focusing on securitization of residential bridge loans, Toorak Capital Partners is preparing an MBS backed by investment-property loans with 30-year terms.
Jumbo mortgage originations were up in 2020 but most production remained on the lenders' books. Direct sales of conventional loans to non-agency securitizers also fell. (Includes data chart.)
Based on activity over the past year, mortgage IPOs can sometimes underwhelm. Angel Oak’s was no exception but investors in the common shares are betting on non-QM lending taking off in the years ahead.
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