Securitization

Some nonbank issuers of mortgage-backed securities are wrestling with capital pressures, and Ginnie Mae has cooperated with their efforts to sell chunks of mortgage-servicing-revenue streams to investors.

Blackstone Group's rental-home finance company plans to offer bonds backed by properties managed by many landlords, the first sale of the debt from multiple borrowers.

Higher credit enhancement did not necessarily pay off for Wells Fargo in its latest commercial mortgage securitization.

The latest securitization of reperforming residential mortgages offers investors less protection against future losses than the previous deal, and has earned correspondingly lower safety scores from Fitch Ratings.

With mortgage giant Freddie Mac finding increased demand this week in the nascent market for its risk-sharing securities, competitor Fannie Mae said it was taking steps to draw more buyers for its own notes.

Commercial mortgage-backed securities servicers have held on to real-estate owned properties for longer than usual, which could lead to a reversal in the declines in liquidations seen recently, according to a Fitch Ratings study.

There are a lot of consumer, investor and regulatory complaints about how the nonbank servicing firm does business, but Morgan Stanley researchers offer reasons why certain investors and borrowers could benefit from sticking with Ocwen.

If you thought the subprime mortgage-backed security was an artifact of the past, think again. Nomura Holdings and Angel Oak Capital have a deal that may help revive the part of the market that went bust during the crisis. Their success could encourage more banks to dip their toes back into riskier mortgages.

KeyBank Real Estate Capital has teamed up with Hunt Mortgage Group to create a commercial mortgage servicing group and asset management department.

Ocwen Financial Corp. said investors in mortgage-backed securities who criticized its servicing policies are trying to force more foreclosures.

Bank of New York Mellon is building out a new investment firm with the mortgage specialist Amherst Holdings. The move is its second major commitment to a fixed income-related fund this year.

A U.S. District Court judge has dismissed a challenge to JPMorgan Chase's $13 billion settlement with the Justice Department.

The amount of commercial and multifamily mortgage debt outstanding grew during the fourth quarter at the highest rate seen since 2007, surpassing the record high posted in the previous quarter, according to figures released by the Mortgage Bankers Association.

Freddie Mac will offer its first external 55-day participation certificate pass-through security, the government-sponsored enterprise announced Monday.

But derivatives that magnified their performance woes were the bigger culprit, according to a new book by investor Howard Hill, who created models for collateralized mortgage obligations before the meltdown.

Nomura Holdings Inc. and Royal Bank of Scotland Group helped fuel a bubble that led to the collapse of the U.S. housing market, an attorney for the Federal Housing Finance Agency said at the opening of a trial over defective mortgage-backed securities.

Nomura Holdings Inc. will defend claims by a U.S. regulator that it sold defective mortgage-backed securities to Fannie Mae and Freddie Mac before the 2008 financial crisis, becoming the first bank to take such a case to trial.

The two prevalent forms of private-label RMBS representation and warranty frameworks that became popular following the financial crisis do a good job of detecting defective loans, according to Moody's Investor Service.

Proposals for stiffer capital requirements will reduce the number of mortgage servicers, which in turn will cut access to credit, mortgage-company executives said at an industry conference on Wednesday.

Bondholders in CMBS with exposure to Macerich Co. would be wise to watch how Simon Property Group's $22.4 billion bid for the mall operator unfolds.