RMBS

The PSMC 2019-3 Trust is bringing $298.6 million in notes to the market, backed by residential mortgages rounded up by subsidiaries of American International Group.

The housing finance industry supports a proposed rule revision that would exempt banks regulated by the Federal Deposit Insurance Corp. from an RMBS disclosure requirement.

Redwood Trust is adding to its single-family rental lending business by purchasing CoreVest American Finance Lender from its management team and affiliates of Fortress Investment Group.

RESIMAC Bastille Trust RESIMAC Series 2019-1NC is an Australian-dollar (AUD) $1 billion transaction (approximately US$674.5 million) that will feature a US$250 million Class A-1 tranche of notes, according to Fitch.

Maren Kasper, who has led Ginnie Mae in the absence of a permanent president, is leaving the agency on Oct. 18 to pursue an opportunity in the private sector.

A year after Fannie Mae launched its first credit-risk transfer securitization using a real estate mortgage investment conduit, Freddie is now electing to also opt for a REMIC format in offloading the credit risk to private investors.

Fitch Ratings reports the deal is the first post-crisis RMBS securitization it has rated consisting entirely of manufactured-housing loans.

A final rule on residential appraisals published this month could save depositories time and money in the short term, but potentially increase collateral risk.

Trustees are concerned about obtaining proper consents from legacy residential mortgage-backed securities investors in a timely fashion in order to make the switch from Libor to another index, Fitch Ratings said.

Citigroup's global markets realty arm is sponsoring a $362 million securitization of recently originated high-balance, nonagency mortgages, a change of pace from its recent focus on RPL deals.