MBS

The Fed has pledged to maintain the pace of purchases until “substantial further progress” is made on employment and inflation.

Approaching the market with its third and largest deal this year, non-QM originator and issuer Angel Oak Home Loans LLC (AOHL) plans to issue $303 million in asset-backed securities following the recent completion of its initial public offering.

The deal has a shifting-interest structure that determines senior principal distributions by comparing the senior bond size to the collateral balance.

The U.S. Supreme Court gave Goldman Sachs Group Inc. a new chance to stop a lawsuit accusing it of misleading shareholders by masking conflicts of interest in MBS it sold.

About 18.5% of borrowers in the mortgage pool were self-employed, a slightly lower level than the combined percentages for 2020 and 2021 deals.

A portfolio of mixed-quality mortgage loans secures the deal, some of which adhere to ATR underwriting mandates from the CFPB.

When the Federal Reserve starts scaling back its massive bond-buying spree, mortgage traders are betting their market will be at the forefront.

The $1 billion mortgage securitization is smaller than several recent deals, and features modified mortgages. But subordination supports senior notes.

The transaction, FSMT 2021-4, is one of the trust’s largest deals in the last several years. Half of the mortgages are on properties located in California.

The bonds will be backed by a first-lien mortgage on Willowbrook Mall, a 1.52-million-square-foot shopping center in Houston.

Deals, trends and research in structured finance and asset-backed securities for the week of May 14-20

The $500.2 million Morgan Stanley Residential Mortgage Loan Trust 2021-2 is supported by 547 prime-quality loans, many of them large-balance loans with outstanding obligations exceeding $1 million.

Taking each element of ESG - environment, social, governance - a dv01 principal says the firm is gathering the comprehensive list of authoritative sources and entities needed to build an ESG definition.

The deal was constructed under Angel Oak’s social-bond framework, in which the firm intends to use the proceeds to help finance residential loans for underserved borrowers.

Deals, trends and research in structured finance and asset-backed securities for the week of May 7-13

Flatt said the combination of strong markets and asset sales means there’s enough capital on hand for its planned $6.5 billion privatization of Brookfield Property Partners LP, and the repurchase of its own shares, to soak up some of the new equity being issued in the transaction.

The two companies each priced on Wednesday each firm's second aggregated pool of non-QM loans this year.

The multiborrower CMBS deal includes 71 single-tenant properties, representing more than 40% of the pool.

Deals, trends and research in structured finance and asset-backed securities for the week of April 30-May 6

The 30-acre luxury retail development is among four investment-grade-worthy loans included in the multiborrower deal.