Securitization

More than one securitization per month resulting from multiple disbursements of a single loan will be permitted beginning Oct. 1, the guarantor said.

A new label and disclosures for certain mortgage securities may create more of an impetus for lenders to extend credit to underserved populations.

New mortgage bonds now offer yields that are about 1.66 percentage point higher than U.S. Treasuries, according to data compiled by Bloomberg. That's the most relative to corporate bonds in 17 years. 

It notched relatively higher returns after betting on asset-backed securities with a rotation out of mortgage debt and collateralized loan obligations.

The matter stems from 2006 and 2007 and related to the issuance, underwriting and sale of the securities, UBS said in a statement Monday.

The REIT issued its second securitization of the year in June, while also purchasing or locking $50 million in newly originated loans.

Federal Deposit Insurance Corp. sales from the portfolios of failed Silicon Valley Bank and Signature could be complete by September, according to a report published Tuesday by FHN Financial.

Compared with other tax lien transactions, PVOne 2023-1 has a much smaller initial redemption value, and has one of the lowest numbers of liens, at 9,681. Its weighted average loan-to-value (LTV) ratio is 8.8%.

For large banks, the agencies wanted to go above the global standards for residential mortgages, as well as some business loans, to avoid giving those lenders a competitive advantage over smaller peers, according to another person familiar with the proposal.

Delinquencies are balanced by low loan-to-value ratios, which could result in more favorable recoveries in the event of defaults.