Residential MBS


New Target for RMBS Lawsuits: the Trustees

Investors who lost big on RMBS minted befor the financial crisis are focusing on a new target: the trustees who oversee these deals on their behalf.

Third Single Family Rental Deal for Invitation Homes

The deal, Invitation Homes 2014-SFR2, is collateralized by a single $720 million loan secured by mortgages on 3,750 residential properties.

Credit Suisse Preps Third RMBS of 2014

DLJ Mortgage Capital, a Credit Suisse subsidiary, plans to issue $363.6 million of securities backed by fixed rate residential mortgage loans; over half are designated as safe harbor, or qualified mortgages.

Ex-Jefferies Executive Litvak Gets Two Years for Fraud

Ex-Jefferies & Co. Managing Director Jesse Litvak, deemed an “elite” fraudster by prosecutors for being the only person convicted of fraud over a $20 billion government bailout program, was sentenced to two years in prison for lying to customers about mortgage-backed securities.

UK RMBS Exposure to Interest-Only Loans is Diminishing

U.K. borrowers are refinancing their interest-only mortgages nearly as fast as they refinance mortgages that amortize, and this is reducing the risk in non-conforming residential mortgage-backed securities, according to Moody’s Investors Service.



Reg AB II Returns from Limbo

Regulation AB governs registration, reporting and disclosure requirements for all things asset-backed. The Securities and Exchange Commission appears to be ready to update it significantly, but, nearly four years after changes were originally proposed, it’s not clear exactly what the Commission will do.

Nonbank Mortgage Servicers' Rapid Growth Alarms Investors

Concern is mounting among investors and analysts that Nationstar, Ocwen Financial and Walter Investment are getting so big so quickly that they are becoming too difficult to manage.

Finra Files Proposal to Disseminate Price Data

The proposal would introduce dissemination of trade prices for securities ranging from highly liquid credit card and auto ABS to smaller and more esoteric deals in asset classes such as time shares, to commercial mortgage-backed securities (CMBS) and highly structured CDOs and collateralized loan obligations.

Fitch: External Factors Biggest Threat in 2014

Overall issuance growth will moderate in 2014, Fitch Ratings' managing director for asset backed securities says in the firm's outlook.

Ocwen's Loan Mods Rile RMBS Investors

The servicer has a reputation for aggressively writing down principal, often multiple times.


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Single-Asset, Single-Loan CMBS is Back

Securitization of very large commercial mortgages is picking up again, and so is the leverage in some of these deals.

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