RMBS

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.

The Italian bank is reportedly close to completing the sale to Cerberus Capital Management, Bank of America and Illimity Bank SpA.

The deal is backed by an underlying pool of 1,724 fixed-rate mortgages originated by Blackstone-owned Finance of America Mortgage.

Because automated valuation models have not been subjected to a stressed housing market, their increased use holds negatives and positives for residential mortgage-backed securities credit quality, a Moody's report said.