Total new issuance of securities backed by home loans, commercial mortgages and non-mortgage assets jumped 24% from 2018’s levels to $2.14 trillion last year, the biggest volume since 2007. (Includes three data charts.)
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Single-family rental securitization issuance in 2019 fell by 35%. Invitation Homes, the largest issuer of such deals in 2018, avoided the market entirely, focusing instead on more attractive types of financing.
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Issuance of marketplace lending ABS is expected to increase slightly, led by optimism in the economy and improved underwriting criteria, according to rating services.
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Velocity Financial, an active securitizer of nonprime mortgages, is ready for its maiden voyage in IPO land. One thing is for certain: Very few such firms are public.
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The loans covered by the GSEs’ loan performance data have much lower default rates than those in their full book of business, according to the AEI.
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The rating service, now affiliated with DBRS, announced its methodology for rating reverse-mortgage deals backed by FHA and private-sector loans.
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The year is young but already MBS and ABS deals are being prepped. Meanwhile, the mortgage market is waiting to see the FHFA’s capital proposal for Fannie and Freddie.
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