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Tag: Securitization

The Single-Family Rental Securitization Market Tops Out At $20 Billion

Over the past eight years, as homeownership has declined, 4.5 million homes have been purchased and converted into rental properties by investors. Seeking to...

Legacy RMBS Hold Upper Hand over New Mortgage Trades

RMBS left over from the wreckage of the subprime crisis are finding renewed favor with investors, siphoning off demand for new mortgage-backed instruments by...

OASIS: A Securitization Born from MSR Transfers

Early in 2014, Ocwen Loan Servicing, the nation’s largest nonbank mortgage servicer, completed a new type of quasi-securitization to help Ocwen fund its servicing...

Why Prosecutors Whiffed on Subprime Crime

One of the great “mysteries” of the post-financial-crisis era is why there has been almost no prosecution of obvious criminality, particularly in the mortgage...

The Paper Chase: Securitization, Foreclosure, and the Uncertainty of Mortgage Title

The mortgage foreclosure crisis raises legal questions as important as its economic impact. Questions that were straightforward and uncontroversial a generation ago today threaten...

What Exactly is “Shadow” Banking?

There is much confusion about what shadow banking is and why it may create (systemic) risks: Some equate it with securitisation. Others with non-traditional bank activities,...

Justice Department: BofA Put Toxic Debt in Bond as Staff Resisted

Bank of America Corp.’s traders fought off efforts by the firm in 2007 to include risky Alt-A mortgages in a securitization. That wasn’t enough...

Securitzation 101: How Mortgage Bonds Are Made

How do mortgages make it to Wall Street anyway? None of the following is essential to understanding mortgages from a personal finance standpoint, I just...