Residential MBS

News

Kensington Marketing £343 Prime UK RMBS

Finsbury Square 2017-1 is a four-class series note structure backed by 2,320 loans secured by residential properties with an average balance of £148,160 and a weighted average interest rate of 4.45% the highest of any recent Kensington securitization.

Ocwen Agrees to Big Penalties to Resume Business in California

Ocwen Financial has reached a deal with California authorities to resolve allegations that the mortgage servicing firm -- a frequent target of regulators in recent years -- again violated a range of state and federal laws.

Kroll Keeps Diamond Resorts Notes Under Downgrade Review

The Class B notes for both Diamond Resort Owner Trust 2015-1 and 2015-2 were placed on watch last August due to the high levels of loan repurchases or loan substitutions conducted by the trust to replace defaulted loans.

Can Ocwen Reinvent Itself?

Ocwen has stepped away from the business of acquiring mortgage service portfolios - for now - so the special servicer is exploring new business lines as varied as mortgage originations to alternative lending under the direction of new non-executive chair Phyllis Caldwell. a former U.S. Treasury executive.

Fannie Mae Plans $1.7B Nonperforming Loan Sale

Four larger pools will have roughly 10,000 loans with $1.76 billion in unpaid principal balance. Bids on the larger pools are due March 7; Fannie Mae will accept bids on a "community impact" pool until March 21.

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Articles

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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Current Issue

Five Questions Facing the GSEs' Common Securitization Platform

It's unclear how the new political environment will affect the platform's viability or how investors will view the securities issued on it. The next year could determine the project's success and role reshaping the secondary mortgage market.

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