RMBS

Ginnie Mae mortgage-backed securities issuers can aggregate their portfolio's exposure to areas hit by the three recent hurricanes to qualify for its disaster relief program.

Select Portfolio Servicing grew its mortgage servicing rights portfolio by over 14% in the second quarter by targeting opportunities in the nonagency loan market.

Ocwen Financial Corp. received more breathing room on the legal front as the Securities and Exchange Commission is not pursuing an enforcement action against the company regarding its debt collection practices.

Wall Street firm Morgan Stanley is almost done completing tasks mandated under the terms of a mortgage settlement in New York.

Nearly half of the properties are in New York (30.3%), New Jersey (10.4%) or Florida (8.7%), states that require a court to sign off on a foreclosure, a lengthy process that could affect the timing of payments.

Vandy Fartaj, the firm’s chief capital markets officer, says a novel deal structure allows the real estate investment trust to issue additional term notes its portfolio of mortgage servicing rights grows.

Investor demand for mortgage bonds is strong; the only limiting factors are consumer awareness of the product and loan officers' willingness to offer them.

Hurricane Irma could potentially affect more private-label mortgage securities collateral than any other recent storm.

The $426.2 million COLT 2017-2 is backed entirely by loans originated by Caliber, an affiliate of private equity firm Lone Star Funds. There are no loans originated by Sterling Bank & Trust, which accounted for 22% of the collateral for the prior deal.

The 4,443 single-family rental homes securing Starwood Waypoint Homes 2017-1 have an average age of 30 years, older than any previous transaction by the sponsor, but are bringing in more than $1,700 apiece in monthly rent.

The average home value backing the loans is $117,000, well below the average $150,000 of other recent RPL securitizations, according to Fitch Ratings.

Fannie Mae and Freddie Mac will adjust their risk-sharing deals so that they can accommodate high loan-to-value loans refinanced under the programs replacing the Home Affordable Refinance Program.

MFA Financial Inc. co-CEO William Gorin died Aug. 10 after a long illness. He was 59.

Redwood Trust is raising $225 million in a debt offering with the proceeds to be used to repay borrowings that come due next year.

For all the talk that Janet Yellen’s plan to shrink the Federal Reserve’s balance sheet will hurt Treasuries, U.S. mortgage bonds face a bigger test.

The senior tranche of triple-A rated notes to be issued benefits from 38.65% credit enhancement, up over 10 percentage points from 27.25% for the comparable tranche of the sponsor's previous deal.

Federal Reserve officials said they would begin running off their $4.5 trillion balance sheet “relatively soon” and left their benchmark policy rate unchanged as they assess progress toward their inflation goal.

Unlike the $15 billion-asset bank’s legacy mortgage bonds, the new offering is backed by loans to borrowers with strong credit and significant equity in their homes.

Former Ginnie Mae President Ted Tozer is joining the board of directors at PennyMac Financial Services starting Aug. 1.

U.S. District Judge André Birotte has dismissed all federal claims against Renovate America and its government bond-issuing partners in three lawsuits that had sought class-action status.