The overall character of the mortgage loans backing Redwood Trust's latest RMBS were consistent with "high-quality underwriting," said Standard & Poor's in an unsolicited commentary on the transaction.
Average weekly fixed rates for mortgages inched up a bit but still are ending the year near their all-time historic lows, according to Freddie Mac.
Federal regulators took another step Wednesday toward lessening banks' reliance on credit ratings.
Reinstating trust in the ratings process is key to growing investor interest, according to buyside participants in a Tuesday panel at the ABS East conference hosted by IMN.
At IMNs ABS East conference, the panelists who opened up the discussion Tuesday delivered a somber assessment of the economy.
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Casting a cloud over the CMBS sector for 2012 is an overhang of about $55 billion in CMBS loans that are coming up for refinancing.
As much as 63% of $19 billion in 2007 vintage five-year CMBS loans coming due in 2012 could fail to refinance.
Early outlooks for 2012 suggested net organic supply at around $10 billion with an added volume of more than $78 billion coming from paydowns/sales from the GSE and U.S. Treasury portfolios.
These deals will be backed by loans that were once delinquent, repurchased and reinstated to current status without a modification.
HARP is the only active program that allows homeowners who are underwater to refinance.