CLTV

KBRA Assigns Preliminary Ratings to Verus Securitization Trust 2024-3 (VERUS 2024-3)

Retrieved on: 
Monday, April 8, 2024
Professional Services, Finance, RMBS, LTV, CLTV, Documentation, KBRA, Telescopic sight

KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Verus Securitization Trust 2024-3 (VERUS 2024-3), a $688.9 million non-prime RMBS transaction.

Key Points: 
  • KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Verus Securitization Trust 2024-3 (VERUS 2024-3), a $688.9 million non-prime RMBS transaction.
  • The underlying collateral, comprising 1,346 residential mortgages, is characterized by a significant concentration of loans underwritten using alternative income documentation.
  • Borrowers in the subject pool possess a non-zero WA original credit score of 735 and exhibit moderate equity in each mortgaged property, with an original combined LTV (CLTV) ratio of 70.9%.
  • Most of the loans are classified as non-qualified mortgages (Non-QM) (39.5%) or exempt (40.5%) from the Ability-to-Repay/Qualified Mortgage (ATR/QM) rule due to being originated for non-consumer loan purposes.

KBRA Assigns Preliminary Ratings to Freddie Mac’s STACR 2024-HQA1

Retrieved on: 
Thursday, March 7, 2024
Professional Services, Finance, Note, LTV, Documentation, REMIC, Trust, Freddie Mac, DTI, Royal, KBRA, CLTV, Telescopic sight

KBRA assigns preliminary ratings to 24 classes from Freddie Mac Structured Agency Credit Risk (STACR®) REMIC 2024-HQA1 Notes, Freddie Mac STACR REMIC Trust 2024-HQA1 (STACR 2024-HQA1), a credit risk sharing transaction with a total note offering of $712,000,000.

Key Points: 
  • KBRA assigns preliminary ratings to 24 classes from Freddie Mac Structured Agency Credit Risk (STACR®) REMIC 2024-HQA1 Notes, Freddie Mac STACR REMIC Trust 2024-HQA1 (STACR 2024-HQA1), a credit risk sharing transaction with a total note offering of $712,000,000.
  • STACR 2024-HQA1 features loans with loan-to value (LTV) ratios greater than 80%, but less than or equal to 97%.
  • The Offered Notes represent obligations of the STACR 2024-HQA1 Trust in a credit-linked note structure governed by a credit protection agreement between the trust and Freddie Mac, with payments subject to the credit and principal payment risks of the STACR 2024-HQA1 Reference Pool.
  • The STACR 2024-HQA1 Reference Pool consists of 69,295 residential mortgage loans with an outstanding principal balance of approximately $23.1 billion as of the cut-off date.

KBRA Assigns Preliminary Ratings to New Residential Mortgage Loan Trust 2024-NQM1 (NRMLT 2024-NQM1)

Retrieved on: 
Thursday, February 22, 2024
Banking, Professional Services, Finance, REIT, RITM, LTV, Royal, KBRA, RMBS, CLTV, Telescopic sight

KBRA assigns preliminary ratings to 6 classes of mortgage-backed notes from New Residential Mortgage Loan Trust 2024-NQM1 (NRMLT 2024-NQM1), a $281.9 million non-prime RMBS transaction sponsored by Rithm Capital Corp. (formerly New Residential Investment Corp.), a publicly traded (NYSE: RITM) real estate investment trust (REIT).

Key Points: 
  • KBRA assigns preliminary ratings to 6 classes of mortgage-backed notes from New Residential Mortgage Loan Trust 2024-NQM1 (NRMLT 2024-NQM1), a $281.9 million non-prime RMBS transaction sponsored by Rithm Capital Corp. (formerly New Residential Investment Corp.), a publicly traded (NYSE: RITM) real estate investment trust (REIT).
  • The underlying mortgages in the subject pool were originated by NewRez LLC (57.6%), American Heritage Lending (20.3%), and LendSure Mortgage Corporation (11.3%).
  • In addition, all loans will be serviced by NewRez LLC d/b/a Shellpoint Mortgage Servicing.
  • NRMLT 2024-NQM1 is collateralized by a pool of 610 residential mortgages.

KBRA Assigns Preliminary Ratings to Freddie Mac’s STACR 2024-DNA1

Retrieved on: 
Thursday, February 1, 2024
Banking, Professional Services, Insurance, Finance, CLTV, Freddie Mac, Note, Royal, KBRA, DTI, Trust, LTV, Documentation, REMIC, Telescopic sight

KBRA assigns ratings to 24 classes from Freddie Mac Structured Agency Credit Risk (STACR®) REMIC 2024-DNA1 Notes, Freddie Mac STACR REMIC Trust 2024-DNA1 (STACR 2024-DNA1), a credit risk sharing transaction with a total note offering of $572,000,000.

Key Points: 
  • KBRA assigns ratings to 24 classes from Freddie Mac Structured Agency Credit Risk (STACR®) REMIC 2024-DNA1 Notes, Freddie Mac STACR REMIC Trust 2024-DNA1 (STACR 2024-DNA1), a credit risk sharing transaction with a total note offering of $572,000,000.
  • STACR 2024-DNA1 features loans with loan-to-value (LTV) ratios greater than 60%, but less than or equal to 80%.
  • The Offered Notes represent obligations of the STACR 2024-DNA1 Trust in a credit-linked note structure governed by a credit protection agreement between the trust and Freddie Mac, with payments subject to the credit and principal payment risks of the STACR 2024-DNA1 Reference Pool.
  • The STACR 2024-DNA1 Reference Pool consists of 59,003 residential mortgage loans with an outstanding principal balance of approximately $18.3 billion as of the cut-off date.

Amidst the Impact of Interest Rate Movements, TransUnion Introduces New Solution to Better Assess Property Values

Retrieved on: 
Wednesday, January 10, 2024
Property management, Risk, Environment, Risk management, Home equity, TransUnion, CLTV, TRU, Motivation, Bank

According to the recent Q3 2023 TransUnion Credit Industry Insights Report , tappable home equity continues to rise, up to $19.7 Trillion in Q2 2023.

Key Points: 
  • According to the recent Q3 2023 TransUnion Credit Industry Insights Report , tappable home equity continues to rise, up to $19.7 Trillion in Q2 2023.
  • As a result, it is imperative for lenders to have a true picture of the property values in their portfolio.
  • Ultimately, this provides a more holistic view to help assess the riskiness of a portfolio from a property perspective.
  • Consumer Property Insights for Property Management provides lenders with an array of new and differentiated insights, such as combined-loan-to-value (CLTV), on each property a consumer owns.

KBRA Assigns Preliminary Ratings to Verus Securitization Trust 2023-8 (VERUS 2023-8)

Retrieved on: 
Monday, December 4, 2023
Banking, Professional Services, Insurance, Finance, KBRA, Documentation, LTV, CLTV, RMBS, Telescopic sight

KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Verus Securitization Trust 2023-8 (VERUS 2023-8), a $526.9 million non-prime RMBS transaction.

Key Points: 
  • KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Verus Securitization Trust 2023-8 (VERUS 2023-8), a $526.9 million non-prime RMBS transaction.
  • The underlying collateral, comprising 1,008 residential mortgages, is characterized by a significant concentration of loans underwritten using alternative income documentation.
  • Borrowers in the subject pool possess a non-zero WA original credit score of 737 and exhibit moderate equity in each mortgaged property, with an original combined LTV (CLTV) ratio of 69.8%.
  • To access ratings and relevant documents, click here .

Wescom Credit Union Launches Fixed Rate Feature HELOC

Retrieved on: 
Tuesday, November 14, 2023
Finance, Banking, Professional Services, Residential Building & Real Estate, Construction & Property, APR, FRC, Annual percentage rate, Consumer, Note, Achieva Credit Union, Home equity loan, Credit union, Rate, CLTV, HELOC, Financial services, Bank, Health insurance, Credit, Wescom Credit Union, Central California

“The debut of Wescom’s Fixed Rate Feature HELOC is our way of adding value back into our membership,” stated Jeff Smrcka, Vice President of Consumer Lending at Wescom.

Key Points: 
  • “The debut of Wescom’s Fixed Rate Feature HELOC is our way of adding value back into our membership,” stated Jeff Smrcka, Vice President of Consumer Lending at Wescom.
  • Other banking institutions that do offer a HELOC, only offer it against someone’s primary residence; however, because a Fixed Rate Feature HELOC is a part of Wescom’s existing program, it’s available to owner-occupied properties along with investment and second homes.
  • To learn more about Wescom’s active Fixed Rate Feature HELOC offering, please visit: wescom.org/home-loans/home-equity .
  • 3A Wescom HELOC fixed rate conversation (FRC) option allows members with a new or existing HELOC to convert a portion or the entire outstanding balance into an amortized term segment of their choice at a fixed interest rate.

Morreale Bolsters Executive Team by Adding Media, PR and Transportation Veterans to its Award-Winning Team

Retrieved on: 
Tuesday, November 14, 2023
PRWeek, Aviation, Chicago City Hall, Metra, Government, BEP, Newsroom, Private sector, Transport, Social media, WBE, Midwestern United States, News, Growth, Female, CLTV, Management, Morreale

"Further, our new organizational enhancements emphasize cross-functional collaboration and will provide meaningful mentorship and training opportunities for our growing team."

Key Points: 
  • "Further, our new organizational enhancements emphasize cross-functional collaboration and will provide meaningful mentorship and training opportunities for our growing team."
  • The firm maintains Women Business Enterprise (WBE), Business Enterprise Program (BEP) and Women's Business Enterprise National Council (WBENC) certifications.
  • In this capacity, Rose will oversee strategic and crisis communications, media relations and business development for Morreale and its clients.
  • "I look forward to leveraging my 20 years of experience working as a public affairs and transportation executive to lead our talented and committed transportation and infrastructure team at Morreale," Abrams said.

KBRA Assigns Preliminary Ratings to Freddie Mac’s STACR 2023-HQA3

Retrieved on: 
Thursday, November 2, 2023
Other Professional Services, Professional Services, Finance, Documentation, DTI, Royal, KBRA, CLTV, Freddie Mac, Note, LTV, Trust, REMIC, Telescopic sight

KBRA assigns preliminary ratings to 24 classes from Freddie Mac Structured Agency Credit Risk (STACR®) REMIC 2023-HQA3 Notes, Freddie Mac STACR REMIC Trust 2023-HQA3 (STACR 2023-HQA3), a credit risk sharing transaction with a total note offering of $636,000,000.

Key Points: 
  • KBRA assigns preliminary ratings to 24 classes from Freddie Mac Structured Agency Credit Risk (STACR®) REMIC 2023-HQA3 Notes, Freddie Mac STACR REMIC Trust 2023-HQA3 (STACR 2023-HQA3), a credit risk sharing transaction with a total note offering of $636,000,000.
  • STACR 2023-HQA3 features loans with loan-to-value (LTV) ratios greater than 80%, but less than or equal to 97%.
  • The Offered Notes represent obligations of the STACR 2023-HQA3 Trust in a credit-linked note structure governed by a credit protection agreement between the trust and Freddie Mac, with payments subject to the credit and principal payment risks of the STACR 2023-HQA3 Reference Pool.
  • The STACR 2023-HQA3 Reference Pool consists of 62,836 residential mortgage loans with an outstanding principal balance of approximately $22.4 billion as of the cut-off date.

KBRA Assigns Preliminary Ratings to Verus Securitization Trust 2023-7 (VERUS 2023-7)

Retrieved on: 
Wednesday, October 4, 2023
Banking, Professional Services, Finance, KBRA, CLTV, LTV, RMBS, Documentation, WA, Commercial property, Telescopic sight

KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Verus Securitization Trust 2023-7 (VERUS 2023-7), a $669.2 million non-prime RMBS transaction.

Key Points: 
  • KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Verus Securitization Trust 2023-7 (VERUS 2023-7), a $669.2 million non-prime RMBS transaction.
  • The underlying collateral, comprising 1,284 residential mortgages, is characterized by a significant concentration of loans underwritten using alternative income documentation.
  • Borrowers in the subject pool possess a non-zero WA original credit score of 736 and exhibit moderate equity in each mortgaged property, with original combined LTV (CLTV) ratio of 70.4%.
  • To access ratings and relevant documents, click here .