| 2016 | 2015 | 2014 | |
|---|---|---|---|
| ABS (Public + 144A) | 121,925.6 | 168,972.9 | 179,097.4 |
| ABS (Public + 144A excluding CDOs) | 104,187.4 | 120,762.5 | 124,503.3 |
| ABS (Public Only) | 47,041.2 | 66,355.0 | 76,443.6 |
| ABS (144A Only) | 74,884.5 | 102,617.9 | 102,653.9 |
| Non-Agency MBS | 50,468.5 | 78,446.3 | 60,155.6 |
| Agency MBS | 129,533.1 | 122,391.7 | 119,863.7 |
| CMBS | 57,166.1 | 62,940.9 | 47,131.1 |
| 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.
