Mortgage Daily Logo

Several Jumbo RMBS Deals Issued

Mortgage News

New residential mortgage-backed securities backed by jumbo home loans from three different issuers have been announced in the last two months.

Redwood Residential Acquisition Corp. is securitizing Sequoia Mortgage Trust 2013-9, its ninth prime residential transaction this year, Fitch Ratings reported. The RMBS includes 606 loans for $464 million.

PrimeLendingoriginated 10 percent, WJ Bradley Mortgage Capital originated 6 percent, and the remaining originators each accounted for less than 5 percent. CitiMortgage Inc. is the master servicer, and Wilmington Trust, N.A., is the Trustee.

The weighted-average original combined loan-to-value ratio is 68.3 percent, while the weighted-average FICO is 771. Investor properties account for 5 percent of the pool, and 41 percent of the mortgages are secured by California properties.

“The representation, warranty and enforcement mechanism framework is viewed positively, as it is consistent with Fitch criteria,” the news release stated. “As in other recent Fitch-rated SEMT transactions, SEMT 2013-9 contains binding arbitration provisions that may serve to provide timely resolution to representation and warranty disputes. In addition, all loans that become 120 days or more delinquent will be reviewed for breaches of representations and warranties.”

Moody’s said that Sequoia Mortgage Trust 2013-8 is backed by 603 prime mortgages for $460 million. The loans were aggregated by Redwood and originated by 67 companies including George Mason, Cole Taylor Bank, WJ Bradley and PrimeLending — which each accounted for roughly 6 percent of originations.

The SEMT 2013-8 transaction includes an agreement by Redwood to backstop the representations and warranty repurchase obligation for financially weak originators. Wilmington Trust is the trustee, and CitiMortgage is the master servicer.

NRPMT 2013-1 is backed by 463 fully amortized, fixed-rate first mortgages for $440 million, including 52 ten-year interest-only loans, according to Kroll Bond Rating Agency. The weighted-average loan-to-value ratio is 64 percent, and the combined LTV ratio is 66 percent. The weighted average credit score is 770.

Preliminary ratings were assigned to J.P. Morgan Mortgage Trust 2013-3 by Kroll, a news release Tuesday said. The $345 million deal is backed by 389 fixed-rate 30-year jumbo mortgages, including 33 interest-only loans.

Kroll noted that the weighted-average LTV ratio is 64 percent, and the CLTV ratio is 66 percent. The weighted averaged credit score is 763.

A report from Moody’s indicated that EverBank Mortgage Loan Trust 2013-2 is backed by 367 jumbo mortgages for $303 million. Fitch said last month that it analyzed the deal.

Around $8.8 billion in subprime RMBS were unloaded by Lloyds Banking Group at a profit, the Telegraph reported in May.

Related Posts

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

There is No Such Thing as a Free House …

Over the past several years, those who service loans in the State of Washington(1) have seen a dramatic rise in the number of lawsuits in which delinquent borrowers seek to quiet title to their homes on the grounds that lenders are barred from foreclosing based on...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Mortgage Servicer Portfolios

servicing news | mortgages outstanding statistics | foreclosure news   Servicing Portfolios as of 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 Residential Servicing Portfolios by Servicer Last Updated December 14, 2018...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Fannie Mae Profile

Last Updated December 27, 2018 7:38 PM Central   full list | other directories | bank search | SEC filings | execs | m&a | production   Government Takes Over Fannie, Freddie Sept. 8, 2008 The government has seized control of Fannie Mae and Freddie Mac. The move --...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Freddie Mac Profile

Government Takes Over Fannie, Freddie Sept. 8, 2008 The government has seized control of Fannie Mae and Freddie Mac. The move -- which is likely to push mortgage rates lower and provide a sense of stability for the more than 10,000 employees at both companies -- is a...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI