RMBS

The weighted average FICO credit scores of securitized reperforming loans are deteriorating a little, according to a DBRS study of the bonds.

The $401.2 million COLT 2018-1 is the eighth overall securitization of non-qualified jumbo mortgages issued by the Lone Star Funds affiliate.

Obvion, a €31.1B-asset lender with a 3.2% market share in the Netherlands, is placing more seasoned loans into its latest five-year revolving pool of prime loans.

The findings by consulting firm Oliver Wyman dispel a misconception that the increase in the use of its credit scores is being driven principally by its free availability to consumers, VantageScore says.

It’s the second such transaction; in 2016; New Residential completed a $126 million transaction that included some of the same collateral that it acquired from Ocwen. The original deal has since been repaid

The first issuance on its Finsbury Square platform marks the specialty mortgage originator's seventh securitization since 2010.

The loans used as collateral were originated by a consortium of lenders in The Netherlands: ABN AMRO, ABN AMRO Hypotheken Groep, MoneYou B.V., Oosteroever Hypotheken B.V. and Quion 9 B.V.

With ideal macroeconomic fundamentals of economic growth and low interest rates still in place, S&P Global sees no reason for issuance to slow in 2018.

This feature, which has already been incorporated into some newer transactions, gives the sponsor more flexibility to manage its overall portfolio; Moody's investors Service thinks it is credit neutral.

Just over half of the collateral for the $883 million deal is eligible to be purchased by Fannie or Freddie; the bank itself contributed nearly half.