RMBS

According to presale reports, the fixed-rate loan collateral in Angel Oak Mortgage Trust 2019-5 makes up 77.8% of the new collateral, compared to just 35.5% in Angel Oak’s previous deal that priced in July.

RESIMAC Bastille Trust RESIMAC Series 2019-1NC is an Australian-dollar (AUD) $1 billion transaction (approximately US$674.5 million) that will feature a US$250 million Class A-1 tranche of notes, according to Fitch.

A year after Fannie Mae launched its first credit-risk transfer securitization using a real estate mortgage investment conduit, Freddie is now electing to also opt for a REMIC format in offloading the credit risk to private investors.

Fitch Ratings reports the deal is the first post-crisis RMBS securitization it has rated consisting entirely of manufactured-housing loans.

Trustees are concerned about obtaining proper consents from legacy residential mortgage-backed securities investors in a timely fashion in order to make the switch from Libor to another index, Fitch Ratings said.

Citigroup's global markets realty arm is sponsoring a $362 million securitization of recently originated high-balance, nonagency mortgages, a change of pace from its recent focus on RPL deals.

A gradual approach would help the market absorb loans affected by the government-sponsored enterprises' expiring qualified mortgage exemption, a Redwood Trust executive told analysts during a recent earnings call.

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.