Single-family rental giants are financing smaller players, setting the stage for a new wave of issuance.
The $488 million American Homes 4 Rent 2014-SFR2 has an initial fixed weighted average coupon rate of 4.386% for a 10-year term.
Stonegate Mortgage Corp. is expanding into New York and Massachusetts as it seeks to increase its originations of nonagency jumbo loans and lays the groundwork for its first private-label securitization.
Redwood Trust is preparing what may be the first securitization of residential mortgage bonds that do not fall under rules designed to ensure that borrowers can afford the payments.
Redwood Trust and the Federal Home Loan Bank of Chicago are revving up a program to buy and securitize jumbo loans and looking for signs that other FHLBs will participate.
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, its not clear exactly what the Commission will do.
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.
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.
Overall issuance growth will moderate in 2014, Fitch Ratings' managing director for asset backed securities says in the firm's outlook.
The servicer has a reputation for aggressively writing down principal, often multiple times.
Vice President of Regulatory Compliance
Firm: Clayton Holdings
In the news: How Ability-to-Repay Rules Could Reshape RMBS Market
As more and more Chinese gain the financial access to buy a car with a loan, lenders will look increasingly to securitization to keep origination going.Current Issue