With new restrictions on GSE sales, lenders are increasingly turning to the non-agency MBS market to sell mortgages for investment properties. Issuers include new and established participants.
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.)
Moves by the Trump administration are disrupting the economy and the federal agencies that deal with the housing market. Bob Broeksmit, president and CEO of the MBA, isn’t sure how it’s all going to play out.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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