Private-label

High interest rates and constrained inventory will take its toll on originations and securitization activity in 2024, the rating agency commented.

Though home mortgage issuance has slumped in line with originations, new potential bank capital rules and increased consumer debt consolidation could boost activity for these two subsets in the secondary market.

“One” is the first in a series of non-agency mortgages the wholesaler plans to introduce this year.

However, the share of new impairments increased, likely as a result of the high concentration of these loans given to self-employed borrowers.

Upcoming changes to underwriting regulations, as well as the end of the QM patch, in addition to growing home values, all add up for this market to have a good year.

The transaction features a pool of non-qualified mortgages with a higher-than-average delinquency rate driven by COVID-19 relief plans.

Wells Fargo is exploring selling a unit offering store-branded credit cards as the bank chooses businesses to keep or break off in a broad strategic overhaul, according to people with knowledge of the matter.

As COVID-19 infections increase across the country, including in California, Citigroup has structured a residential mortgage-backed securities offering fit for the times, providing investors with a strong deal structure and robust collateral.

On the heels of its first CLO transaction this year, Western Asset Management is back in the market with a $355.72 million private-label RMBS offering in which a tenth of the borrowers have been granted forbearance.

Vista Point Mortgage is aggregating a collection of mostly non-conforming mortgages that it acquired from several originators.