Analysts at Bank of America Securities say they are in the minority in believing Fannie Mae and Freddie Mac should return to serving as the main backstop buyers of agency mortgage-backed securities. BofA Securities has said the return of the GSEs as major MBS purchasers “would be welcomed in managed form, particularly given their retained […]
Fed, not GSEs, should be mortgage securities backstop: BofA Read More »
GM Financial Consumer Automobile Receivables Trust is preparing to raise $925 million pool of asset-backed securities, collateralized by a pool of retail installment loan contracts. The deal will sell notes to investors through eight tranches of class A, B and C notes, according to Moody’s Ratings. There are five class A tranches, and they have
GM Financial readies a $925 million auto ABS deal Read More »
Two large Manhattan office delinquencies fueled a double-digit increase in the overall delinquency rate in commercial mortgage-backed securities (CMBS) for September, according to Fitch Ratings. Overall, new 60-day-plus delinquencies totaled $2 billion, up from $1.69 billion in August, Fitch said. Maturity defaults accounted for half, or 51% ($1.05 billion) of new delinquencies, while the rest
CMBS delinquencies rise by double digits in September Read More »
New Residential Mortgage Loan Trust, 2025-NQM5 is preparing to issue about $500.9 million in residential mortgage-backed securities (RMBS), bringing more capital into the market for investor-owned properties. Rithm Capital, a real estate investment trust that also invests in mortgage loan aggregation, is sponsoring the deal. This is also the program’s fifth securitization this year backed
New Residential Mortgage floats another $500.9 million Read More »
A yearslong legal battle between credit union regulators and U.S. Bank over mortgage securities dating back to the financial crisis is nearing a settlement, according to new court filings. Both NCUA and U.S. Bank said they were unable to comment on the settlement. A letter dated Oct. 2 from both sides to Judge Louis
U.S. Bank, NCUA reach deal in Great Financial Crisis case Read More »
Knock, a real estate technology company that helps homeowners to buy before they sell, on Tuesday announced the close of its inaugural $100 million securitization. Cantor Fitzgerald & Co. served as the initial purchaser and bookrunner for the transaction, which closed on Aug. 14 and generated strong demand from well-established institutional investors in residential mortgage-backed
Knock closes $100M securitization, says it’s reached profitability Read More »
Led by financial services firm Cantor Fitzgerald who also served as initial purchaser of the bonds, the issuance is expected to help Knock deliver $900 million worth of additional originations of its bridge loan product. The deal closed on Aug. 14 and was 75% pre-funded, garnering strong demand from institutional investors operating in residential mortgage-backed
Knock hits profitability with $100M loan securitization Read More »
A pool of private student loans, provided to borrowers through the Iowa Student Loan Liquidity Corp., will secure $160.9 million in revenue bonds through series 2025A and 2025B. All the senior notes are fixed, according to S&P Global Markets, with the two, taxable series A notes maturing on Dec. 1, 2035 and Dec. 1, 2045.
Private Iowa student loans back $160.9 million Read More »
Tailwinds behind the non-qualified mortgage segment are leading to growing secondary market volumes, while loan pools are on par with recent performance levels, according to a new Morningstar DBRS report. Second-quarter non-QM volumes exceeded last year’s number, totaling over $9.8 billion of typical securitizations, the ratings agency said in a new report. On a year-over-year
Favorable tailwinds drive growth in non-QM securities Read More »
A pool of residential mortgages, a substantial amount of which are not subject to ability-to-repay rules or had been modified several years ago, will provide collateral for $263.9 million in residential mortgage-backed securities (RMBS) from the PRPM 2025-RCF4 deal. Some 16.2% of the loans in the collateral pool have been modified. In the case of
PRPM’s mortgage assets support $263.9 million in RMBS Read More »