Development on the Common Securitization Platform has reached a point where Fannie Mae and Freddie Mac may be able to issue a uniform mortgage-backed security sometime in 2018.
The $225.75 million COLT 2016-3 Mortgage Loan Trust was assigned AAA ratings on its $129.9 million Class A tranche of notes that are secured by non-prime jumbo alternative mortgages or home loans to high-risk credit borrowers.
An £821.7 million pool of higher-risk problem UK residential mortgage loans originated by GE Home Money Lending and other GEHML-affiliated is being pooled into in a new Towd Point Mortgage Trust asset-backed offering arranged through Credit Suisse.
Fannie Mae is also applying to have its previously issued Connecticut Avenue Securities, as well as future issuance, listed on the Singapore Exchange.
There could be downsides for lenders who sell to the two government-controlled secondary mortgage market giants as well, depending on how privatization occurred.
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, its not clear exactly what the Commission will do.
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.
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.
Overall issuance growth will moderate in 2014, Fitch Ratings' managing director for asset backed securities says in the firm's outlook.
The servicer has a reputation for aggressively writing down principal, often multiple times.
Treasurer, Head of Asset Management
Firm: NewStar Financial
The wireless carrier, though only rated single-B, has more leeway from existing investors to enter into a transaction like this than even some investment-grade companies, according to Covenant Review.Current Issue