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Securitization

Favorable tailwinds drive growth in non-QM securities

Originations, Secondary markets, Securitization /

Tailwinds behind the non-qualified mortgage segment are leading to growing secondary market volumes, while loan pools are on par with recent performance levels, according to a new Morningstar DBRS report.  Second-quarter non-QM volumes exceeded last year’s number, totaling over $9.8 billion of typical securitizations, the ratings agency said in a new report. On a year-over-year […]

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PRPM’s mortgage assets support $263.9 million in RMBS

Barclays, J.P. Morgan Securities, RMBS, Securitization /

A pool of residential mortgages, a substantial amount of which are not subject to ability-to-repay rules or had been modified several years ago, will provide collateral for $263.9 million in residential mortgage-backed securities (RMBS) from the PRPM 2025-RCF4 deal. Some 16.2% of the loans in the collateral pool have been modified. In the case of

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Kolyer joins Cadwalader as co-head of CRE, CLO practice

CLOs, CRE, Securitization /

Steven T. Kolyer, recognized as a leading securitization industry lawyer, has joined Cadwalader as co-head of its commercial real estate, collateralized loan obligation practice. Kolyer is based in New York and brings broad experience in securitizations, structured credit products, fund formation and finance, and in CLOS, both corporate and real estate, according to a statement

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North Mill raises $582.3 million in second 2025 deal

ABS, Bank of America, Securitization /

Fixed-rate loans and lease contracts on medical, trucking and transportation equipment will provide collateral for $582.3 million in asset-backed securities (ABS) from the North Mill Equipment Finance, series 2025-B. North Mill Equipment Finance is sponsoring the deal, its second equipment securitization of the year, and is the servicer of the securitized pool, according to Moody’s

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FOA posts profit, buys out Blackstone stake

Earnings, LOAN PRODUCTS, Marketing, Originations, Reverse mortgages, Securitization /

Finance of America was profitable for a second consecutive quarter as funded volume at the reverse mortgage lender grew 7% versus the first quarter and 35% year-over-year. The company made net income from continuing operations of $80 million for the period ended June 30, unchanged from the first quarter and up from a $5 million

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Redwood Trust’s mortgage businesses turn 2Q profits

Earnings, LOAN PRODUCTS, Originations, Secondary markets, Securitization /

While its two mortgage banking segments made money during the second quarter, Redwood Trust lost $100.2 million for the period, related to businesses it is winding down. This compared with net income of $14.4 million in the first quarter and $13.8 million in the second quarter of 2024. The legacy investments are now its own

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New ruling answers legacy mortgage bond servicing question

Law and legal issues, Politics and policy, RMBS, Securitization, Servicing /

The New York Supreme Court has weighed in on a contractual dilemma Wells Fargo has reportedly faced as a residential mortgage-backed securities trustee with a responsibility to oversee investor payment distributions impacted by unforeseen policy changes. A judge has ruled on how trustees and servicers should handle forborne principal from loans in the now-defunct Home

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Pros see longevity for residential transition loans

ABS, RMBS, Securitization /

Real estate professionals attending a recent Morningstar | DBRS panel discussion were optimistic about the new production prospects for residential transition loans (RTL), with about 60% saying they expected positive long-term growth, and around 32% expecting flat production from the sector. The financing environment is also positive, they said. Forty-four percent of industry professionals in

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Nada fund buys 132 home equity agreements from affiliate

Housing markets, Secondary markets, Securitization /

U.S. Home Equity Fund I, a real estate investment fund managed by Nada Asset Management, has purchased 132 home equity agreements from an affiliate in an over $10 million transaction. Nada launched the fund in February of this year, with the aim of creating a diverse portfolio of HEAs, also referred to as home equity

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Angel Oak Mortgage raises $350.2 million in MBS

Bank of America, Goldman Sachs, RMBS, Securitization /

As non-prime mortgage assets continue to make up a significant portion of mortgage-backed securities (MBS) deals, Angel Oak Mortgage Fund is preparing to issue $350.2 million in MBS secured by a portfolio dominated by mortgage loans considered non-qualified or exempt from ability to repay rules. Non-qualified mortgages account for most of the loans, at 55.2%,

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