| 2016 | 2015 | 2014 | |
|---|---|---|---|
| ABS (Public + 144A) | 109,049.7 | 165,945.3 | 176,144.7 |
| ABS (Public + 144A excluding CDOs) | 92,623.0 | 119,048.9 | 121,965.3 |
| ABS (Public Only) | 41,215.6 | 64,641.4 | 74,790.6 |
| ABS (144A Only) | 67,834.2 | 101,303.9 | 101,354.1 |
| Non-Agency MBS | 46,643.5 | 77,786.1 | 58,544.3 |
| Agency MBS | 128,553.8 | 121,851.7 | 119,191.4 |
| CMBS | 54,762.0 | 62,581.7 | 45,11122 |
| 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.
