RMBS

Fitch may use a new Structured Finance Association framework aimed at prioritizing only riskier TRID errors to assign grades to loans sold into residential mortgage-backed securities, reducing rating-related compliance burdens.

As home value appreciation keeps churning, the share of those upside down on their mortgage grows smaller than ever, according to CoreLogic's Home Equity Report.

The two deals continue a late-year surge of private-label RMBS deal volume totaling $8.37 billion priced since Oct. 1.

For the private-label mortgage-backed securities market to grow, regulators need to focus on collateral management in addition to changes to data disclosure rules.

Nationstar’s next securitization of defaulted or inactive home equity conversion mortgages will have a higher-than-average exposure to properties with steep leverage, as well as ties to judicial foreclosure states.

Lenders have bundled more than $18 billion worth of non-QM, private-label loans into bonds this year that they then sold to investors, a 44% increase from 2018 and the most for any year since the securities became common post-crisis.

Tom Marano, a former Bear Stearns banker, was apparently well compensated following the housing crisis for heading up ResCap and Ditech, both of which went into bankruptcy.

Sixty percent of the loans were underwritten with just 12- or 24-month bank statements, according to ratings agency reports.

The acquisition of the Ditech forward mortgage business will double New Residential's year-to-date origination volume in the fourth quarter alone, and further double that next year.

First-lien, prime residential mortgages are securing the Visio 2019-2 Trust, which will raise $202,682,000 from the market, and which has collateral that was funded by the Mortgage Pass-Through Notes, Series 2019.