Private-label

Non-QM's rapid rise is reshaping how lenders underwrite and manage risk, setting a model the rest of the industry will follow, writes the founder of Prudent AI.

Freddie's plan "has merit," but if also used by Fannie, it might create competition for many closed-end, second liens in PL RMBS, according to new research.

High interest rates and constrained inventory will take its toll on originations and securitization activity in 2024, the rating agency commented.

Though home mortgage issuance has slumped in line with originations, new potential bank capital rules and increased consumer debt consolidation could boost activity for these two subsets in the secondary market.

“One” is the first in a series of non-agency mortgages the wholesaler plans to introduce this year.

Servicers of loans not related to the government most often capitalized missed payments and converted them into a deferred, non-amortizing balance, said Vadim Verkhoglyad of dv01.

Moratorium extensions helped drive a weekly increase in forbearances, according to Black Knight.

The Federal Housing Finance Agency's recent allowance of a 3-month extension of CARES Act forbearances stands to upend the trend in plan exits.

However, the share of new impairments increased, likely as a result of the high concentration of these loans given to self-employed borrowers.

Upcoming changes to underwriting regulations, as well as the end of the QM patch, in addition to growing home values, all add up for this market to have a good year.

The transaction features a pool of non-qualified mortgages with a higher-than-average delinquency rate driven by COVID-19 relief plans.

As more borrowers exit their plans, fewer than 4 million loans sit in forbearance, according to Black Knight.

A significant number of plans that expired at the end of June were not renewed, Black Knight said.

The REIT will add $500 million in capital through a senior secured loan, and it received a $1.65 billion term facility.

The history of riskier lending over the last half century can offer lessons for today's market.

An early look at securitized residential home-loan performance amid the coronavirus pandemic indicates encouraging trends thus far in impairment levels of non-qualified mortgages, according to a new report from investor analytics firm Dv01.

The nascent market for private U.S. mortgages is teetering on the brink of collapse as the coronavirus crisis imperils years of work to lessen the government's role in home lending.

Ocwen Financial has approximately $749 million of liquidity from various sources to deal with servicing issues arising from the coronavirus, a company press release said.

New Residential Investment, a real estate investment trust focused on housing, is selling a portfolio of debt with a face value of $6 billion.

As the hunt for yield intensifies, investors including Pacific Investment Management Co. see an attractive opportunity in mortgage bonds.