RMBS

Increased competition among non-qualified mortgage lenders leading to lower starting interest rates for borrowers should result in fewer of these loans prepaying within one year of origination, said Standard & Poor's.

Caliber Home Loans’ next offering of subprime mortgage bonds includes a new product offered to borrowers with a stronger credit profile than its other programs – but also less equity in their homes.

The dollar volume of private-label residential mortgage-backed securities issuance this year is the highest it has been since the Great Recession, despite a decline in new originations.

The sponsor has increased the credit enhancement on the senior support class of notes on offer in order to offset the slightly higher risk to investors.

Annaly Capital Management will be able to proceed with a delayed exchange offer needed for its acquisition of MTGE Investment Corp. because it has been able to satisfy incomplete deal conditions.

New investor appetite for mortgages over $1 million is motivating more nonbank lenders to offer super jumbo loans, often with weaker credit terms than traditional banks.

The expiration of Annaly Capital Management's offer to purchase MTGE Investment Corp. was delayed until Sept. 7 so the two real estate investment trusts have more time to satisfy deal conditions.

The $653 million Bellemeade Re 2018-2 is being rated by both Fitch Ratings and Morningstar Credit Ratings, though Fitch sees more risk to the transaction.

AmeriHome GMSR Issuer Trust, consists of $155 million of fixed-rate, five-year notes and $500 million of two-year variable funding notes; it is modeled on deals by PennyMac.

The mortgage servicer plans to add PHH advance receivables to the collateral once the acquisition closes, though these will only account for around 6% of the total pool.