Non-QM check: How vintage risk is reshaping DSCR underwriting
AD Mortgage successfully closed its fourth non-agency securitization of the year coinciding with May’s Mortgage Bankers Association Secondary and Capital Markets Conference and investor appetite was strong. Processing Content Jared Neale, portfolio manager of RMBS for AD Mortgage, noted that the “AAA”-rated tranche (the highest-quality, lowest-risk slice of the bond pool) was two times oversubscribed, […]
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