Securitization

The prime jumbo RMBS transaction is collateralized by 402 residential mortgage loans.

The industry's biggest opportunities involve the evolving cost of capital, which will shift funding sources from the private, local lending markets to institutional sources.

The transaction is the first in what is planned to be a continued series of purchases by the new fund as it continues to raise capital from investors.

The deal is secured by a portfolio dominated by mortgage loans considered non-qualified or exempt from ability to repay rules.

The volatility pushed whole loan spreads wider and brought single-asset single-borrower commercial mortgage-backed securitization to a halt as lenders waited for clarity.

The company wants some holders of bonds due next year to allow a higher debt-to-equity ratio so it can pursue strong returns while managing certain risks.

Besides the investment, Citi was also the sole bookrunner on Vontive's first-ever securitization, made up of $150 million of residential transition loans.

Most of the contracts in Point Securitization Trust, 1,750 (81.64%), are second-lien as of the cut-off date.

The funding round will help Button Finance, which leverages AI to underwrite home equity financing, expand its range of products to more borrowers.

Mortgage bonds supported by government-backed companies like Fannie Mae and Freddie Mac were trading slightly wider Monday morning after Moody's Ratings downgraded the US late last week.

A range of investment residential properties, including single-family homes, condominiums and multi-unit properties, will secure the debt.

Agency mortgage backed securities have slipped about 1.1% since the start of April, trailing Treasuries and the broader US bond market.

The company reported a profitable first quarter and called for loosened regulation to bring more private capital into home finance in its latest earnings call.

Longbridge Financial's Christopher Mayer discusses the mortgage industry's opportunities in today's market and its shortcomings when serving older Americans.

The deal has an extensive capital structure, which is expected to repay investors sequentially, with notes enhanced by subordination.

Cross 2025-H3 has moderate leverage, according to KBRA, with a weighted average (WA) loan-to-value ratio of 72.3%, and a debt-to-income ratio of 33.5%.

The notes will get credit enhancement from balances on the subordinate bonds, which are permitted to amortize.

Moderate leverage is one example of cleaner credit, as the current collateral pool's original loan-to-value (LTV) ratio is 69.1%, down from 71.7% on the 2024-NQM1 series.

The impact of tariff policy on the mortgage-backed securities market is likely to surface first in the cost of new housing construction.

The underlying prime mortgages have an average balance of $358,024, a weighted average (WA) original FICO score of 776, an original cumulative loan-to-value (LTV) ratio of 73.6%.