Securitization

Most of the loans, 57.34%, are for cashout purposes and the entire loan pool are first-liens, and are of modest leverage, with an original cumulative loan-to-value (LTV) ratio of 69.74%.

Fannie Mae and Freddie Mac have begun placing sizable orders to purchase mortgage-backed securities, stepping into a market roiled by widening bond spreads and a surge in volatility, according to a person with direct knowledge of the matter.

As rising energy prices and growing inflation fears make corporate bonds look increasingly risky, big money managers including State Street and Voya Investment Management have been looking at buying mortgage bonds and other securitized debt instead.

RATE 2026-J1 has a seasoned probability of default of 6.4% and 1.3% on the 'AAA' and 'B' rating stress levels, respectively.

FIGRE 2026-HF3 will repay noteholders on a pro rata basis but is subject to a provision that requires the deal to repay noteholders sequentially after a credit event.

Radian Group was looking to sell the aggregator, along with its title and real estate units, following a business model pivot related to the Inigo buy.

The Mortgage Industry Standards Maintenance Organization is nearing completion on the first of a three-phase Veterans Affairs loan guarantee modernization effort.

The deal benefits from three accounts–a Funding, Expense Reserve and Interest Reserve. The Funding Account will fund draws and purchase additional loans.

Gatti will be based in the firm's Washington, D.C. office, where he focuses on structuring and executing asset-backed securities deals and other structured finance transactions.

GSMBS 2026-PJ2's losses are based on a senior-subordinate, shifting-interest structure and Fitch expects a 10.3% final probability of default in the AAA rating stress.

Fannie Mae and Freddie Mac will add loan-level buydown data to MBS this spring, giving investors clearer insight into prepayment risk tied to temporary rate incentives.

Point Digital Finance originated the underlying home equity contracts, composed of first lien (11.1%), primarily second-lien (82.9%) and third liens (5.81%) on residential properties.

As mortgage rates sank to near 6% in January, consumers looked to do rate-and-term refinances, while originators offered more ARMs and cash-out loans.

Leverage is moderate in Saluda Grade's pool, yet the junior liens carry slightly more LTV and DTI risk, on a weighted average (WA) basis.

After four years, the senior note classes will either pay a 100 basis-point increase to the fixed coupon or the net weighted average coupon (WAC) rate, whichever is lower.

Property inspection waivers were granted on 40.2% of the underlying mortgages, reflecting an increasing trend of agency mortgages being originated without them.

Although investor properties, which are prone to higher chances of default, account for 58% of the pool, the strong borrower and collateral quality mitigate the credit stress.

DRMT 2026-INV1, is backed by a pool of 1,153 non-prime investment property mortgages, which have a moderate leverage levels of an original, combined loan-to-value (CLTV) ratio of 69.9%.

The estimated range for net income to common shareholders at the company formerly known as Ocwen rose in part due to a deferred tax asset valuation.

The moderate leverage reflects the quality of RMBS pools from recent issuance years. Borrowers have a non-zero WA annual income of $1 million, with liquid reserves of $594,348.