| 2015 | 2014 | 2013 | |
|---|---|---|---|
| ABS (Public + 144A) | 56,517.0 | 51,409.4 | 55,226.6 |
| ABS (Public + 144A excluding CDOs) | 43,915.0 | 39,055.5 | 38,830.1 |
| ABS (Public Only) | 26,139.1 | 27,475.0 | 25,128.3 |
| ABS (144A Only) | 30,378.0 | 23,934.4 | 30,089.3 |
| Non-Agency MBS | 25,806.1 | 17,730.6 | 26,186.3 |
| Agency MBS | 18,983.8 | 46,849.1 | 65,281.5 |
| CMBS | 18,352.9 | 13,209.1 | 23,030.6 |
| 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.
