RMBS

Securitization of nonperforming home equity conversion loans was pioneered by Nationstar; FAC's inaugural deal may be outstanding longer.

The U.S. is taking steps to stamp out the practice of servicemembers and veterans being pressured into taking mortgages they don't need, a move that officials say will lower consumer costs and could lead to financial penalties for lenders.

Roughly 52% of the properties backing Tricon American Homes 2017-SFR2 were obtained through the May acquisition; 19.4% were previously securitized by Silver Bay.

The €173.3 million deal is backed by loans originated by the former Catalunya Banc, which were purchased at discount by the Blackstone Group in 2014.

Testing of the common securitization platform is taking longer than expected, but the Federal Housing Finance Agency said it won't delay the 2019 launch of Fannie Mae and Freddie Mac's new single "uniform mortgage-backed security."

Keith Krasney joins this week from Locke Lord, where he chaired the securitization group. He advises clients on secondary market transactions involving mortgage loans.

The deal is similar to several sponsored by Jefferies that used the same moniker, Station Place, but were backed by revolving pools of mortgages originated by multiple lenders.

New Residential Investment Corp. is planning to purchase Shellpoint Partners in the first half of next year for $190 million with an additional earn-out over the next three years.

Collateral for the deal, which is structured as a master trust, can reach €30B of loans originated by the bank's building-savings affiliate, its retail operations and its private-bank unit.

The senior tranche of Angel Oak 2017-3 benefits from 46.25% credit enhancement, up significantly from 37.75% for the sponsor’s July transaction, but in line with its April deal.