RMBS

A new due diligence firm created by a trio of former Clayton Holdings executives wants to shake up a static business model.

Most of the collateral was acquired over the past year; that’s in contrast with the sponsor’s previous two transactions, in which a portion of the collateral was seasoned and refinanced from earlier transactions.

Mortgage servicers should approach efforts to overhaul their compensated structure with caution, as changes to the status quo "could have ripple effects across the entire real estate finance industry," warned Mortgage Bankers Association Chairman David Motley.

A group led by the National Fair Housing Alliance is suing Deutsche Bank, Ocwen Financial Corp. and Altisource Portfolio Solutions, alleging real estate owned properties in minority communities do not receive the same level of upkeep and maintenance as REO houses in white neighborhoods.

The Blackstone affiliate is cashing out over $200 million of home price appreciation in the process, resulting in a loan-to-value ratio that is unchanged from the original Colony American Homes transactions.

The weighted average FICO credit scores of securitized reperforming loans are deteriorating a little, according to a DBRS study of the bonds.

The $401.2 million COLT 2018-1 is the eighth overall securitization of non-qualified jumbo mortgages issued by the Lone Star Funds affiliate.

DoubleLine Capital is embarking on a plan to originate and securitize mortgages, seeking to fill a niche that has traditionally belonged to banks and brokerage firms.

Just over half of the collateral for the $883 million deal is eligible to be purchased by Fannie or Freddie; the bank itself contributed nearly half.

Securitization of nonperforming home equity conversion loans was pioneered by Nationstar; FAC's inaugural deal may be outstanding longer.

The U.S. is taking steps to stamp out the practice of servicemembers and veterans being pressured into taking mortgages they don't need, a move that officials say will lower consumer costs and could lead to financial penalties for lenders.

Roughly 52% of the properties backing Tricon American Homes 2017-SFR2 were obtained through the May acquisition; 19.4% were previously securitized by Silver Bay.

Testing of the common securitization platform is taking longer than expected, but the Federal Housing Finance Agency said it won't delay the 2019 launch of Fannie Mae and Freddie Mac's new single "uniform mortgage-backed security."

New Residential Investment Corp. is planning to purchase Shellpoint Partners in the first half of next year for $190 million with an additional earn-out over the next three years.

The senior tranche of Angel Oak 2017-3 benefits from 46.25% credit enhancement, up significantly from 37.75% for the sponsor’s July transaction, but in line with its April deal.

The impending bankruptcy of Walter Investment Management Corp. should not affect its subsidiary Ditech Financial's capability to service securitized mortgages, Fitch Ratings said.

That’s an about-face from the bank’s previous transaction, completed in October, which was backed by fixed-rate mortgages, nearly half of which were underwritten to standards for purchase by Fannie Mae or Freddie Mac.

Impac Mortgage Holdings' nonqualified mortgage origination volume increased 248% year-over-year in the third quarter as the company accumulates loans for a planned securitization next year.

James Bennison, head of alternative capital markets at Arch Capital Group, says that a new insurance-linked security helps with regulatory capital requirements and provides information that can help the company to better manage risk.

A large portion of the collateral for both IH 2014-SFR2 and IH 2014-SFR3 is being rolled into a new securitization, IH 2017-SFR2.