| 2016 | 2015 | 2014 | |
|---|---|---|---|
| ABS (Public + 144A) | 108,219.7 | 163,510.6 | 171,081.6 |
| ABS (Public + 144A excluding CDOs) | 92,123.0 | 118,369.2 | 119,498.0 |
| ABS (Public Only) | 41,215.6 | 64,086.7 | 73,326.2 |
| ABS (144A Only) | 67,004.2 | 99,423.9 | 97,755.4 |
| Non-Agency MBS | 45,995.4 | 75,620.5 | 57,134.0 |
| Agency MBS | 128,553.8 | 120,335.5 | 117,813.2 |
| CMBS | 54,113.9 | 60,527.1 | 44,631.2 |
| Source: Thomson Reuters | |||
The A1 VFN tranche is a variable funding note whose proceeds can be used for general corporate purposes, including acquisitions.
An array of unnamed originators accounted for the large majority of originators in the pool, 89.3%, the rating agencies said, while Hometown Equity Mortgage originated 10.7% of the pool.
PennyMac Financial Services reported $82.3 million net income, inclusive of a $44 million net reduction related to servicing fair value and hedge losses.
Economic uncertainty weighed on risk appetite, but the current performance of the non-QM market is "durable," Angel Oak leaders said in an earnings call.
Kapitus funds receivables through two revolving securitizations totaling $575 million, and a $230.1 million warehouse line of credit from Truist, which matures in June 2027.
"In looking at eight currently available proprietary RM products, there is a distinct relationship between HECM growth rates and proprietary product availability," Reverse Market Insight said.
