RMBS

In an unusual move, Fannie Mae has obtained credit ratings for eight previously unrated tranches of five Connecticut Avenue Securities transactions (CAS) issued between 2012, when the program was launched, and 2015.

Colony Starwood Homes has sold a portfolio of 1,675 nonperforming loans, as it winds down its business in the space.

Moody’s Investors Service has assigned provisional ratings to five classes of notes in STORM 2016-II B.V., a €1.15 billion pooling of 5,729 30-year home loans to consumers in The Netherlands. The sizes of the Euro-denominated notes are to be determined.

Former Mortgage Guaranty Insurance Co. Chairman and Chief Executive William Lacy Jr. died Sunday from respiratory failure. He was 71.

Equifax and TransUnion have stopped offering traditional credit reports, replacing them with the more expensive trended credit reports that Fannie Mae plans to start using but that other investors don't

Ocwen Financial Corp.'s loan servicing subsidiary has reached a settlement with the Washington State Department of Financial Institutions' consumer services division over the servicer's practice of using unlicensed offshore companies.

Many lenders are still reluctant to give mortgages to borrowers with less-than-pristine credit, yet such loans are far more likely than prime jumbo loans to be bundled into collateral bonds. Sreeni Prabhu of Angel Oak Capital credits banks' behavior and higher interest rates for that reality.

Despite headwinds working against the mortgage insurance industry, this business could be the catalyst for bringing private capital back to the mortgage market.

Angel Oak Capital’s second securitization of non-prime residential mortgages brought its funding costs down significantly, helped by the addition of some new investors.