Affiliates of Bayview Asset Management will package more than 3,000 seasoned mortgages into Koitere Fund Trust 2017-SPL3 and Bayview Opportunity Master Fund IVa Trust 2017-LL1.
After some tightening in the fourth quarter of 2016, issuers of prime non-agency mortgage-backed securities in the first quarter of 2017 largely returned to the underwriting standards typically seen in the sector, according to an analysis by Inside Nonconforming Markets. Some $2.60 billion of prime non-agency MBS was issued during the quarter, spread across six deals, including a $1.03 billion issuance by JPMorgan Chase. Underwriting ... [Includes two data charts]
Deephaven Mortgage is preparing to issue a $221.14 million nonprime mortgage-backed security, according to a presale report from S&P Global Ratings. The majority of mortgages in the deal were originated by Angel Oak Mortgage Solutions, a firm that has issued nonprime MBS on its own. While loans from 43 lenders will be included in Deephaven Residential Mortgage Trust 2017-1, Angel Oak accounts for 59.6 percent of the contributions. The other correspondent ...
Issuance of mortgage-backed securities backed by newly originated nonprime mortgages increased in the first quarter of 2017, according to Inside Nonconforming Markets. An estimated $411.36 million in nonprime MBS was issued during the quarter, a 23.2 percent increase from the previous quarter. And no nonprime MBS was issued during the first quarter of 2016. Issuance in the first quarter of this year marked the second best quarter for volume since nonprime MBS activity ...
Private capital needs to return to the mortgage market to make the market less dependent on taxpayers, according to JPMorgan Chase. The company dedicated portions of its latest annual report to call for a number of changes that could increase non-agency lending. According to Chase, a “healthy” non-agency mortgage-backed security market hasn’t resumed eight years after the financial crisis because housing finance reform and other securitization standards ...
With the potential for restrictions placed on Ocwen Financial to be removed in the near future, officials at the nonbank stress that Ocwen has transformed compared with when the restrictions were applied. Near the end of 2014, Ocwen agreed to a $150.0 million settlement with the New York Department of Financial Services. Among other provisions, the settlement required Ocwen to meet certain benchmarks and receive approval from the state regulator before acquiring ...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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