MBS

A trigger occurs if the reserve fund is less than 50% of the reserve fund target amount, or if the payment date where the outstanding HEA valuation is less than 80% of the starting home valuation.

More "Airbnb-style" rental property loans are making their way into non-qualified mortgage securitizations and could they be acting differently from the traditional non-owner occupied loans, a Standard & Poor's report asks.

The government agency's new issuances in August totaled over $40 billion, marking a high not seen since late 2022.

Issuance of new mortgage-backed securities guaranteed by Ginnie Mae has returned to levels last seen during the year monetary policymakers began raising rates.

The Swiss bank claims that Countrywide is obligated to indemnify it for legal expenses stemming from risky mortgages bundled pre-2008.

Mortgage bonds tend to lag Treasuries when it's unclear where rates are going, because changes in yields can have a big impact on how many borrowers refinance their home loans.

The company earned about the same in the second quarter but less versus the prior period as it added to credit reserves due to loan acquisition activities and higher mortgage rates.

But the industry-backed proposal differs by $13 million from the House version of the appropriation bill and it is not likely to get resolved until after the November election.

Last year alone, insurers increased their holdings of residential mortgage loans by a whopping 45%, or about $20 billion, according to an analysis by Ellington Management Group. 

The agency is looking to improve liquidity for its reverse mortgage-backed securities issuers who have to buy back loans.

Home price appreciation and favorable economic factors have led to consistent loan performance, but prepayments are increasing with an uptick in housing turnover, according to Morningstar DBRS.

Stakeholders are watching carefully as the 2023 crisis and a capital proposal increase banker wariness of mortgage assets, speakers at Invisso's MBS Forum said.

The Department of Housing and Urban Development agency warned in an online notice that issuers with prepayments exceeding certain limits could face sanctions.

Market participants have been so focused on determining when and how much the Federal Reserve will slow its balance-sheet unwind that they haven't even started to consider another wrinkle: the composition of the U.S. central bank's assets.

The mortgages have an average balance of $70,312, and an average coupon, on a weighted average (WA) basis, of 10.06%. Also on a WA basis, the borrowers have an original credit score of 739.

Data used to determine the non-QM and prime jumbo numbers represent 75% of securities in each respective loan segment, the companies said.

Flat growth is expected for mortgages and auto loans, while credit card loan growth will slow down.

Loan criteria such as credit scores, loan types and loan-to-value ratios are all weaker than those included in 2022 deals, Fitch said.

A new "Social MBS" label will be applied to eligible single-family collateral from both government-sponsored enterprises based on a new mission index score.

Meanwhile, issuance in the far smaller private-label residential mortgage-backed securities market has shown relative strength so far this year, as forecast.