A revival in the scratch-and-dent market was a bright spot in non-agency MBS issuance in the second quarter. ECM volume held up better than activity in the prime sector. (Includes three data charts.)
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Spreads on various types of residential MBS are wider than they were during the early days of the pandemic, suggesting that the assets aren’t particularly attractive to investors. However, that isn’t necessarily true.
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Litigation-finance ABS, backed by advances made to injured individuals in litigation, allow plaintiffs to press for larger settlement payouts from insurance companies.
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Celebrity Home Loans hired industry veteran Rudy Orman to manage correspondent non-QM loan purchases. The move comes amid turbulence in the market.
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Not too long ago, the asking price for scratch-and-dent mortgages was considered silly but buyers paid because the returns were strong. And today? It’s a whole different ballgame.
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Fannie Mae and Freddie Mac plan to resume bulk acquisitions of seasoned mortgages from lenders. However, the purchases will be focused on smaller lenders.
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CLOs managers are responding to tough market conditions by making changes to their products, for example proposing to remove buckets for discounted assets.
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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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