RMBS

Ocwen Financial (OCN) is one of several servicers bulking up in subprime in hopes of a day when it is no longer a dirty word.

Credit Suisse is planning to issue a £200.2 million ($314 million) securitization backed by U.K. buy-to-let and owner-occupied non-conforming residential mortgage loans, from its Alba series.

Ocwen Financial (OCN) is buying mortgage servicing rights and related servicing advances from OneWest Bank in Pasadena, Calif., for $2.5 billion.

The securitization conference season just added Oct. 27 to 29 to its calendar with the International Institute for Business Information & Growth’s inaugural consumer finance symposium at the Cosmopolitan of Las Vegas.The securitization conference season just added Oct. 27 to 29 to its calendar with the International Institute for Business Information & Growth’s inaugural consumer finance symposium at the Cosmopolitan of Las Vegas.

Freddie Mac is marketing multifamily mortgage-backed securitizations for a combined total of approximately $3.5 billion.

The Structured Finance Industry Group has hired Falcon Capital Advisors as well as a consultancy run by Kristi Leo to help it attract new members and pursue its legislative agenda.

Fitch, in a press release today, stated that while the recovering U.S. housing market and macro stability are bolstering remnant U.S. RMBS performance lately, persistent challenges remain for the sector to overcome. Fitch said that because pre-crisis RMBS transactions are still facing challenges, rating improvement will remain limited in the near term and it only expects future upgrades to come to RMBS classes with relatively short remaining lives within sequential payment priority transactions.

Mortgage modifications led to more than $1 billion of unexpected retroactive losses on 170 US RMBS, which are credit negative for these deals, according to Moody’s Investors Service.