Securitization

Although forecasts anticipate a continuing drop in overall originations, private-label residential mortgage-backed securitizations backed by newer loans are expected to keep increasing through next year, according to Bank of America.

Returns on mortgage-backed securities in October lagged Treasuries by 37 basis points, the most since November 2016.

A low-rated segment of an index that most closely tracks the performance of U.S. mall mortgage loans saw its biggest decline in more than a year in October.

Laurel Davis, VP, credit risk transfer at Fannie Mae, explains why the switch to a REMIC structure for CAS is important, and why it took so long.

Goldman Sachs is getting closer to hitting its $1.8 billion consumer relief obligation as outlined in mortgage settlement agreements between the U.S. Department of Justice and three states.

New Residential Investment Corp. expects to raise $433 million from a follow-on offering of 25 million shares of its common stock it priced on Nov 1.

The $571 million transaction is backed by 915 loans originated from 2002 and 2008 that Waterfall Asset Management acquired over eight years.

Lennar Corp. is selling a portion of its Rialto business to Stone Point Capital for $340 million, adding to Stone Point's holdings in the real estate and financial industries.

The structure reduces counterparty risk in the GSE's benchmark Connecticut Avenue Securities program; it also expands the investor base.

While all portions of mortgage credit underwriting standards have slipped since the early post-crisis period, it is the deteriorating conditions that most increases vulnerability for future loan quality, a Moody's report said.

Home price appreciation is continuing to decelerate due to affordability concerns that are unlikely to let up even though recent market developments have put some downward pressure on mortgage rates.

Rating agencies are sparring over a new feature in a private-label RMBS that upends the relationship between senior and sub bondholders.

Donald Layton, who has run the mortgage giant since 2012, discussed the busy agenda leading up to his departure and says Freddie can serve as a "technical adviser" in GSE reform talks.

Former Chair Janet Yellen defended the Fed, expressed worry for the economy and gave advice to women on the rise at the MBA Annual Convention this week.

The mortgages being reinsured are more seasoned than most other deals rated by Morningstar, which helps offset the risk of lower initial weighed average LTV.

Nomura Holding America and affiliates agreed to pay a $480 million penalty to resolve U.S. claims that the bank misled investors in marketing and selling mortgage-backed securities tied to the 2008 financial crisis, according to the Justice Department.

The REIT is purchasing another $500 million of credit risk transfer notes through Fannie's L Street Securities program; this is its first deal rated by Fitch.

HSBC will pay $765 million to settle allegations that it sold defective residential mortgage-backed securities in the run-up to the financial crisis, resolving one of the London-based bank's last significant legal challenges with the U.S. government.

Wells Fargo is planning its first post-crisis offering of bonds tied to U.S. home loans without government backing, according to people familiar with the matter.

Builder Lennar Corp.'s purchase of CalAtlantic's financial services operations boosted its mortgage segment's earnings in the third quarter as the acquisition offset declines in per-loan profits and refinancing.