Genesis Capital has issued more than $1 billion in rated residential transition loan securitizations since Morningstar DBRS started rating the securitizations in March.
Morningstar DBRS created rating criteria for securitizations of home equity investments in mid-2023. Since then, issuance has blossomed, and the sky’s the limit, according to industry participants.
Rithm Capital closed a $500.0 million MBS backed by rated residential transition loans through its Genesis Capital shelf. The deal is the second RTL securitization to receive a rating from Morningstar DBRS.
Despite growing delinquencies, Morningstar DBRS has provided a stable outlook for the securitization markets involving non-QM loans and HEI agreements.
Unison offers its first HEA securitization; NP rebrands; Finance of America launches new reverse-mortgage product; Sherman Bridge debuts investment-property lender marketplace; Arc Home appoints new president and future CEO; UWM expands DSCR eligibility requirements.
Bill Pulte, nominee for FHFA director, and Jonathan McKernan, the nominee for CFPB director, detailed some of their plans.
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