Texas-based loans used as collateral in seasoned residential mortgage-backed securities have a weighted average coupon (WAC) that is higher than expected given the state's stable housing market, according to Bill Hunt, vice president of Opera Solutions.

“[Texas PL RMBS loans] had performed very well in terms of home prices, not like California or Vegas. It was a pretty steady market throughout the onset of the credit crisis and onward. It was healthy,” Hunt said. 

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