Residential MBS


Ocwen, Assurant Near $150M Settlement in Class Action Lawsuit

Ocwen Financial and Assurant have reached an agreement to settle charges that the embattled mortgage servicer profited from kickbacks on force-placed insurance policies with struggling homeowners.

Tricon Capital Prices Single Family Rental Tighter

The issuer sold the most junior-ranking , double-B rated tranche at 350 basis points over one month Libor; 20 basis points inside a similar tranche of Invitation Homes' early April transaction.

Warning on Super Priority Liens Bodes Well for STACR

The regulator confirmed that it does not consent to any extinguishing of liens held by Freddie Mac or Fannie Mae in connection with liens such as energy retrofit programs or homeownership association fees.

As Freddie Mac Expands NPL Offerings, Banks Could Benefit

In general, recently established formal programs for sales of NPLs by the GSEs could help improve the market for U.S. banks looking to sell their own loans, according to Fitch Ratings.

Morningstar Sees Downside to Chasing Single-Family Rental Yields: High Turnover

Rental yields do not provide the complete picture about the profitability of a property because these properties also experience the highest vacancies.



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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How CLO Managers Are Preparing for Risk Retention

It's one of the biggest regulatory hurdles the market has faced since the financial crisis, and promises to bring wholesale changes to the structures of transactions as well as to the business models of managers. Clifford Chance partner Steven Kolyer weighs in.

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