RMBS

PIMCO is resecuritizing a large swathe of mostly non-qualified home loans that were previously bundled in 2016-2017 mortgage-backed securities, according to presale reports.

Moody’s said the Fed’s cuts – the first in a decade by the central bank – will boost real estate and consumer ABS collateral by helping lenders uphold underwriting standards and provide affordable debt options to borrowers.

Angel Oak Mortgage Trust 2019-4 involves 1,551 loans, according to ratings agency presale reports. Nearly 84% of the loans have borrowers who do not meet the CFPB’s qualified mortgage standard.

Jefferies is housing the initial round of $300 million in loans under a repurchase agreement with four lenders, as well as with the trust established for the transaction in Jefferies’ standing as the repo seller.

The $292.4 million Home Partners of America 2019-1 transaction pools 1,168 single-family home and townhome/condo properties that give tenants right-to-purchase options.

Verus Securitization Trust 2019-INV2 is backed by investor loans secured by 1,042 rental properties. The loans were originated by 76 different lenders.

Nomura's unit didn't adequately monitor traders who lied to clients about the prices the firm paid for bonds and the amount of profits the traders would receive, according to an SEC statement.

Mortgages using alternative documentation like bank statements for underwriting performed stronger than expected, but uncertainty remains about their default rates in stressed environments, Fitch Ratings said.

The collateral consists mainly of older homes that average 53 years (with a range of one to 129 years old). None of CoreVest’s SFR transactions since launching the platform in 2015 have eclipsed that average.

Despite rising delinquency levels, borrower performance on the underlying mortgages in GSE credit-risk transfer securitizations is strong enough to warrant ratings upgrades to more than half of nearly 1,200 outstanding note classes.