RMBS

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.

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.

Rates for 30-year mortgages are at their lowest since late 2016, sending many previously hesitant homeowners to their brokers.

A gradual approach would help the market absorb loans affected by the government-sponsored enterprises' expiring qualified mortgage exemption, a Redwood Trust executive told analysts during a recent earnings call.

PIMCO is resecuritizing a large swathe of mostly non-qualified home loans that were previously bundled in 2016-2017 mortgage-backed securities, according to presale reports.

Angel Oak Mortgage Trust 2019-4 involves 1,551 loans, according to ratings agency presale reports. Nearly 84% of the loans have borrowers who do not meet the CFPB’s qualified mortgage standard.

Jefferies is housing the initial round of $300 million in loans under a repurchase agreement with four lenders, as well as with the trust established for the transaction in Jefferies’ standing as the repo seller.

Verus Securitization Trust 2019-INV2 is backed by investor loans secured by 1,042 rental properties. The loans were originated by 76 different lenders.