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New investor appetite for mortgages over $1 million is motivating more nonbank lenders to offer super jumbo loans, often with weaker credit terms than traditional banks.
August 20
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The expiration of Annaly Capital Management's offer to purchase MTGE Investment Corp. was delayed until Sept. 7 so the two real estate investment trusts have more time to satisfy deal conditions.
August 20
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Similar to the sponsor's prior transaction, however, the collateral includes a large portion of loans underwritten using bank statements to verify borrower income: 49%.
August 17
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The $653 million Bellemeade Re 2018-2 is being rated by both Fitch Ratings and Morningstar Credit Ratings, though Fitch sees more risk to the transaction.
August 10
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Rather than set a new date, the trade group will supplement the agenda at a residential mortgage finance symposium to take place in New York in late October.
August 9 -
AmeriHome GMSR Issuer Trust, consists of $155 million of fixed-rate, five-year notes and $500 million of two-year variable funding notes; it is modeled on deals by PennyMac.
August 8
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The mortgage servicer plans to add PHH advance receivables to the collateral once the acquisition closes, though these will only account for around 6% of the total pool.
August 8
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The company is marketing another $550 million of bonds backed by MSRs; proceeds will be used to repay the remaining $500 million of notes issued last year at wider spreads.
August 6
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The agreement was likely the last of the big cases to be cleared by the Justice Department, and Wells paid less than its peers did to resolve the lingering mortgage probes stemming from the meltdown.
August 1
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The bulk of the collateral, 59.6%, was acquired from Impac Mortgage Corp., a lender with a long track record; the remainder, 40.4%, from Sprout Mortgage Corp., a relative newcomer.
July 31
