New Residential raises $493.7 million in non-prime RMBS
The terms of NRMLT 2025-NQM7 will not allow it to advance principal and interest on loans that are delinquent by 180 days or more.
Mortgages
Lower rates drive best November lock activity in years
November rate locks fell seasonally but hit their strongest level since 2021, led by refis, while lenders shifted more loans to the GSE cash window.
Hometap raises $50 million from Gallatin Point to support HEI business
The home equity investment provider first approached the securitization market in July 2024 to raise $217 million.
Buyers and sellers fear housing market crash in 2026
Forty percent of Americans planning to buy or sell a home in 2026 worry about a potential market crash, according to a new report from Clever Offers.
Vacancies fuel a rise in commercial loan delinquencies
Delinquency trends split in Q3, with securitized and agency loans showing more strain while banks and life companies saw small improvements amid uneven vacancy and rent conditions.
How GSE changes in LLPAs, MBS could shift rates
Decision makers have voiced support for lower financing costs but researchers have said achieving it could be complicated. Part 3 in a series.
GSE credit reform: Rent data impact on pricing and LLPAs
What developments around rent reporting and new credit standards portend for mortgage companies. Part 2 of a series on government-sponsored enterprise changes.
3 things that happened in home equity investment last month
Fortress has been one of the most active home equity investment firms in November, investing $1 billion in Cornerstone.
Non-prime residential mortgages underpin $298.9 million in RMBS
If cumulative loss or a delinquency trigger event is in effect, then the deal will distribute principal among the class A notes before any principal allocation the class M1 or class B certificates.
Mortgage rates tick down for first time this month
After three consecutive weeks of increases, the 30-year fixed mortgage rate dropped 0.3 basis points to 6.23% this week, according to Freddie Mac.
October’s prepay speeds at highest in over three years
The prepayment rate grew by 37% over September as mortgage rates fell leading to higher refinancing volume in October, ICE Mortgage Technology said.
Goldman’s prime jumbo mortgage pool will raise $471 million
The transaction uses a shifting interest repayment structure, and its lockout that is subject to performance triggers.
Non QM securitization broke records in 3Q: Morningstar
New private-label bonds collateralized by loans made outside the qualified mortgage definition hit highs for the month, quarter and year, CreditFlow data shows.
Splitero Trust’s $255 million ABS raise is steeped in home values
A large majority of the pool assets, 86.2%, are second-lien home equity investment contracts that have a weighted average (WA) multiple share rate of 2.00x.
SFA hopes to bring back public RMBS from private issuers
The Structured Finance Association is adding its weight to recent support for a Securities and Exchange Commission action that could modernize Reg AB II.
How Basel, GSE changes may upend MSR dynamics
Policy reviews of GSEs and Basel rules could reshape the MSR market, opening opportunities for banks and altering Fannie, Freddie MBS dynamics.
Mortgage delinquency levels rise on softer FHA performance
Delinquencies are at their second highest level in three years, led by deterioration in the performance of FHA loans, the Mortgage Bankers Association said.
Fitch flags cooling housing market through 2027
While Fitch and Kroll have differing views on mortgage rates next year, both are looking for mortgage delinquencies to rise in their rated portfolios.
50-year mortgage plan piles on interest, analysis finds
A 50-year mortgage would make borrowers susceptible to higher interest rates, significantly more payable interest and slower equity gains, LendingTree analysis showed.
Fed Gov. Miran has a view on the economy. Is it persuasive?
Fed Gov. Stephan Miran has spent his short tenure at the central bank arguing that disinflation in housing and immigration reforms will tamp down inflation in the near term. But other economists say the timing, degree and context of those effects is very much in question.
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