MBS

COLT 2024-5 has a higher concentration of full documentation loans, 6.1%, compared with 5.1% on the COLT 2024-4 deal, and smaller concentrations of piggyback mortgages and loans on investor properties.

The joint venture will use a combination of internal and third-party capital to purchase mortgage loans that A&D originates and services, while investing in a range of mortgage securities on the transactions.

More "Airbnb-style" rental property loans are making their way into non-qualified mortgage securitizations and could they be acting differently from the traditional non-owner occupied loans, a Standard & Poor's report asks.

Issuance of new mortgage-backed securities guaranteed by Ginnie Mae has returned to levels last seen during the year monetary policymakers began raising rates.

Credit enhancement ranges from 15.0% on the super senior notes to 0.70% on the B4 note, among the subordinate tranches.

Spreads for Fannie Mae current coupon mortgage bonds, a proxy for securities being created now, jumped 0.07 percentage point to 1.41 percentage point, on track for the most widening in a day since April.

The deal brings Kiavi's half-year issuance to almost $1 billion, and after selling all its offered notes, was open to potentially selling rated RTL securitizations in future offerings.

Amid the housing market's challenges, the pool still has borrowers with strong credit profiles, including a 48% debt-to-income (DTI) ratio, and low leverage of 63%, for a sustainable loan-to-value ratio.

Fitch Ratings views home price values in the non-prime mortgage pool as being 11.3% above a long-term sustainable level.

Fitch Ratings views home price values in the non-prime mortgage pool as being 11.1% above a long-term sustainable level.