Residential MBS


WinWater Home Mortgage Preps Second RMBS

Winwater Mortgage Loan Trust, a conduit formed in 2013, is planning its second $276.9 million residential mortgage securitization.

Unsolicited Ratings Encouraged More in Theory than in Practice

Which opinion is more reliable: A well-informed one tainted by financial arrangements or one free of such conflicts but based on limited data — and possibly colored by spite?

PCS Brand Tops €100B Deals In Shrinking Market

The volume of European asset-backed tranches with the Prime Collateralised Securities (PCS) label has crossed the €100B threshold but the region's securitization volumes keep shrinking.

Obvion Prices Dutch RMBS

The 1.9-year, €258 million, ‘AAA’ rated class A1 was sold at a spread of 25 basis points over 3-month Euribor. The notes were originally being talked in the 25bps to 30bps area.

Bradford & Bingley RMBS Rejig Improves Credit Enhancement, Maybe Ratings

The restructuring proposal of Bradford & Bingley's Aire Valley RMBS master trust has prompted mixed reaction from two rating agencies.



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-Family Rental Giants Branch Out

Single-family rental giants are financing smaller players, setting the stage for a new wave of issuance.

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