COLT returns with a $382 million RMBS deal, more heavily weighted to California mortgages
A majority of the deal was underwritten to a less-than-full documentation standard, but meets ATR standards. Almost half of the loans are on California homes.
MBS
Prime mortgages underpin a potential $1.6 billion RMBS from JPMorgan
All but 501 of the loans in the pool were assessed following the new general QM rule. Otherwise, the pool is largely comprised of jumbo, prime loans.
CIM Trust returns for a fourth deal in 2021, raising about $434.6 million
Just a handful of loans in the securitized pool of investor properties, or 0.7%, had been enrolled in a coronavirus related forbearance plan.
Prime mortgages secure $1 billion JPMorgan deal
The 10 largest loans in the deal have high balances, ranging from $2 million to $2.9 million, and California represents half of it’s geographic concentration.
Progress launches $365.6 million RMBS backed by single-family rentals
Industry observers say they expect current market conditions to support healthy deal flow through the end of 2021.
Seasoned mortgages underpin $402 million CSMC 2021-RPL5
Primarily, the underlying mortgage collateral consists of 1,982 peak-vintage seasoned and re-performing loans, about 90% of which have been modified.
Rental homes underpin $414.5 million from Home Partners of America
Single-family rental houses and townhomes underpin the securitization, with a feature to transfer or obtain a release of any property that meets conditions.
Williams pushes back on Fed tapering MBS faster than Treasuries
The Fed has pledged to maintain the pace of purchases until “substantial further progress” is made on employment and inflation.
Angel Oak’s new social MBS follows lukewarm IPO
Approaching the market with its third and largest deal this year, non-QM originator and issuer Angel Oak Home Loans LLC (AOHL) plans to issue $303 million in asset-backed securities following the recent completion of its initial public offering.
By
John Hintze
RATE Mortgage Trust 2021-J1 places $371.5 million in MBS
The deal has a shifting-interest structure that determines senior principal distributions by comparing the senior bond size to the collateral balance.
Goldman gets review of investor MBS suit in top court ruling
The U.S. Supreme Court gave Goldman Sachs Group Inc. a new chance to stop a lawsuit accusing it of misleading shareholders by masking conflicts of interest in MBS it sold.
Morgan Stanley residential MBS trust floats $317 million in notes
About 18.5% of borrowers in the mortgage pool were self-employed, a slightly lower level than the combined percentages for 2020 and 2021 deals.
Qualified and non-QM mortgages underpin $203 million COLT 2021-1
A portfolio of mixed-quality mortgage loans secures the deal, some of which adhere to ATR underwriting mandates from the CFPB.
Housing Boom Fuels Bets Fed Will Taper Mortgage Bonds First
When the Federal Reserve starts scaling back its massive bond-buying spree, mortgage traders are betting their market will be at the forefront.
SCRT finances another MBS pool, this time $1 billion
The $1 billion mortgage securitization is smaller than several recent deals, and features modified mortgages. But subordination supports senior notes.
Single-family homes underpin $750 million Flagstar Mortgage Trust deal
The transaction, FSMT 2021-4, is one of the trust’s largest deals in the last several years. Half of the mortgages are on properties located in California.
Brookfield takes $155M super-regional mall loan to CMBS market
The bonds will be backed by a first-lien mortgage on Willowbrook Mall, a 1.52-million-square-foot shopping center in Houston.
By
Glen Fest
Weekly Wrap: Signs of life in credit-card ABS market
Deals, trends and research in structured finance and asset-backed securities for the week of May 14-20
Morgan Stanley returns with second prime jumbo deal of 2021
The $500.2 million Morgan Stanley Residential Mortgage Loan Trust 2021-2 is supported by 547 prime-quality loans, many of them large-balance loans with outstanding obligations exceeding $1 million.
By
Glen Fest
dv01 sets out to incorporate ESG into ABS data sets
Taking each element of ESG – environment, social, governance – a dv01 principal says the firm is gathering the comprehensive list of authoritative sources and entities needed to build an ESG definition.
By
Ted Jackson
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