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Residential MBS

News

Vacancies in Blackstone’s Rental Bonds Decline in February

The vacancy rate for properties backing Blackstone’s Invitation Homes single-family rental securitization declined to 6.5% in February, from 8% in January.

Ginnie Mae Nixes Mortgage Servicing Transfers

Ginnie Mae has halted the transfer of mortgage servicing rights from Bank of America to a nonbank servicer because the bank is missing documents such as recorded mortgages and title policies on the underlying home loans.

REO-to-Rental ABS Dogged by Claims of House Price Impact

Critics of REO-to-rental securitization are concerned the sector could have a destabilizing impact on housing prices. Do they have a case?

New Caps Allow European SF Ratings to Float Higher

Fitch Ratings has taken positive rating action on 150 tranches of 113 structured finance transactions that are capped relative to the sovereign ratings of Ireland, Portugal and Spain.

Senate Banking Leaders May Delay Vote on GSE Reform

Questions are being raised about whether Senate Banking Committee leaders will delay a pending vote on their mortgage finance reform bill as they struggle to secure additional votes.

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Articles

The Case for Overhauling RMBS Rep-and-Warranties

JPMorgan may be trying to put the sins of the past behind it; however, put-back risk for the industry is alive and well despite efforts by the federal government to impose what it deems to be appropriate mortgage underwriting standards.

RMBS Comeback

What's keeping private-label RMBS investors up at night, and what could attract more capital, setting the stage for a broader recovery.

Why Former Investors Despair of Returning to RMBS

Through bitter experience, bond purchasers learned about the moral hazard embedded in private RMBS and their grossly inadequate legal protections.

RMBS Should Pool Loans from Different Originators

While Qualified Mortgage and Qualified Residential Mortgage Rules are designed to increase mortgage quality, investors must be cautious about privately issued securities in a post-GSE era where the underlying loans are subjected to a particular lender’s underwriting and sourcing processes.

Mortgage Lenders Push ARMs as Refis Plunge

As refinancing volumes plummet, lenders are trying to extend the home financing boom by pitching adjustable-rate mortgages to borrowers, harkening back to the pre-crisis boom years.

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