Subprime lending

PrimeLending Wins MortgageSAT Award for Best-in-Class Application Process

Retrieved on: 
Monday, May 20, 2019
Technology, Data management, Software, Professional services, Banking, Finance, Construction & Property, Residential Building & Real Estate, Economy, Money, Finance, Loans, Mortgage industry of the United States, Personal finance, Mortgage loan, Subprime lending, Mortgage broker

PrimeLending , a national home lender, has earned the MortgageSAT Best-in-Class Lender Award for Application Process, given to lenders whose application processes consistently received the highest ratings from borrowers they served in 2018.

Key Points: 
  • PrimeLending , a national home lender, has earned the MortgageSAT Best-in-Class Lender Award for Application Process, given to lenders whose application processes consistently received the highest ratings from borrowers they served in 2018.
  • The acclaimed application process at PrimeLending offers an online experience that guides potential homebuyers through each step of the process.
  • We are driven by our enduring commitment to delivering a superior experience for borrowers, so its truly an honor to earn this award from MortgageSAT on behalf of homebuyers, said Steve Thompson, President of PrimeLending.
  • MortgageSAT is a leading analytics tool from the STRATMOR Group that gathers borrower feedback and data to help mortgage lenders improve the homebuyer experience.

KBRA Assigns Preliminary Ratings to Prosper Marketplace Issuance Trust, Series 2019-2

Retrieved on: 
Monday, May 13, 2019
Professional services, Banking, Finance, Other Professional Services, Economy, Money, Finance, Loans, Prosper Marketplace, Personal finance, Prosper, Credit, Subprime lending, Kroll Bond Rating Agency

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Prosper Marketplace Issuance Trust 2019-2 (PMIT 2019-2).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Prosper Marketplace Issuance Trust 2019-2 (PMIT 2019-2).
  • Founded in 2005, Prosper operates an online marketplace lending platform ( www.prosper.com ) (the Prosper Platform or the Platform), where personal installment loans are offered to prime and near prime customers.
  • The loans in PMIT 2019-2 were all underwritten as Standard Product Loans under the WebBank and Prosper Credit Guidelines.
  • The Prosper Platform offers fixed rate, fully amortizing unsecured consumer loans ranging from $2,000-$40,000, terms of 3 years and 5 years.

KBRA Assigns Preliminary Ratings to Sequoia Mortgage Trust 2019-2 (SEMT 2019-2)

Retrieved on: 
Monday, May 13, 2019
Professional services, Banking, Finance, Economy, Finance, Money, Loans, Personal finance, Subprime mortgage crisis, Mortgage loan, Kroll Bond Rating Agency, Subprime lending

Kroll Bond Rating Agency (KBRA) assigns ratings to fifty-three classes of mortgage pass-through certificates from Sequoia Mortgage Trust 2019-2 (SEMT 2019-2), a prime RMBS transaction.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns ratings to fifty-three classes of mortgage pass-through certificates from Sequoia Mortgage Trust 2019-2 (SEMT 2019-2), a prime RMBS transaction.
  • SEMT 2019-2 contains both prime jumbo (73.6%) and high-balance conforming (26.4%) collateral to borrowers with prime attributes.
  • The SEMT 2019-2 mortgage pool is composed of 634 first-lien mortgage loans with an aggregate principal balance of $400,835,589 as of the cut-off date.
  • The weighted average original credit score is 766, which is within the prime mortgage range.

KBRA Assigns Preliminary Ratings to Arroyo Mortgage Trust 2019-2 (ARRW 2019-2)

Retrieved on: 
Friday, May 10, 2019
Professional services, Banking, Finance, Economy, Finance, Money, Mortgage, Mortgage loan, Subprime lending, Adjustable-rate mortgage, Kroll Bond Rating Agency, Fixed-rate mortgage, Mortgage-backed security, Super jumbo mortgage

Kroll Bond Rating Agency, Inc. (KBRA) assigns preliminary ratings to six classes of mortgage-backed notes from Arroyo Mortgage Trust 2019-2 (ARRW 2019-2), a $960.0 million non-prime RMBS transaction.

Key Points: 
  • Kroll Bond Rating Agency, Inc. (KBRA) assigns preliminary ratings to six classes of mortgage-backed notes from Arroyo Mortgage Trust 2019-2 (ARRW 2019-2), a $960.0 million non-prime RMBS transaction.
  • ARRW 2019-2 is sponsored by Arroyo Mortgage Acquisition Company III LLC (AMAC III), an affiliate of Western Asset Mortgage Capital Corporation (WMC).
  • The loans were underwritten primarily using non-traditional income documentation sources to borrowers with substantial equity.
  • The underlying ARRW 2019-2 collateral consists of both hybrid adjustable-rate mortgages (80.9%) and fixed-rate mortgages (19.1%), with 2.9% of the loans possessing an interest-only period.

KBRA Releases Monthly Auto Loan Indices for April

Retrieved on: 
Thursday, May 9, 2019
Automotive, Professional services, Finance, Other Professional Services, General Automotive, Economy, Money, Finance, Subprime mortgage crisis, United States housing bubble, Debt, Securitization, Subprime lending

Kroll Bond Rating Agency (KBRA) releases its Auto Loan Indices for the month of April and adds loan level transition matrices to its monthly reporting package.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases its Auto Loan Indices for the month of April and adds loan level transition matrices to its monthly reporting package.
  • Securitized auto loan collateral pools showed improved credit performance during the March collection period (April reporting period), with the benefit of tax refunds likely driving annualized net losses and delinquency rates lower.
  • Although our indices showed improved year-over-year metrics, loan level data showed slightly less sanguine results.
  • The number of prime and non-prime borrowers that went from 60+ days delinquent to current in March came in at 24.8% and 21.5%, respectively.

KBRA Assigns Preliminary Ratings to Notes Issued by DT Auto Owner Trust 2019-2

Retrieved on: 
Thursday, May 2, 2019
Professional services, Finance, Economy, Finance, Money, Kroll Bond Rating Agency, KBRA, Credit rating agency, Subprime lending

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by DT Auto Owner Trust 2019-2 (DTAOT 2019-2), an auto loan ABS transaction.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by DT Auto Owner Trust 2019-2 (DTAOT 2019-2), an auto loan ABS transaction.
  • DTAOT 2019-2 will issue $456.5 million of notes collateralized by approximately $550.0 million of subprime auto loan receivables at closing.
  • The preliminary ratings reflect the initial credit enhancement levels ranging from 61.25% for the Class A notes to 18.50% for the Class E notes, which build to 65.00% and 22.25% for the Class A and Class E notes, respectively.
  • KBRA will review the operative agreements and legal opinions for the transaction prior to closing.

Prime Meridian Holding Company to Webcast Live at VirtualInvestorConferences.com March 14th

Retrieved on: 
Friday, March 8, 2019
Money, Economy, Finance, Subprime mortgage crisis, Tallahassee metropolitan area, Tallahassee, Florida, OTC Markets Group, Mortgage loan, Subprime lending, Meridian

TALLAHASSEE, Fla., March 8, 2019 /PRNewswire/ --Prime Meridian Holding Company (OTCQX: PMHG), based in Tallahassee, Florida, today announced Sammie D. Dixon, Jr., Vice Chairman, President and CEO, will present live at VirtualInvestorConferences.comon March 14th.

Key Points: 
  • TALLAHASSEE, Fla., March 8, 2019 /PRNewswire/ --Prime Meridian Holding Company (OTCQX: PMHG), based in Tallahassee, Florida, today announced Sammie D. Dixon, Jr., Vice Chairman, President and CEO, will present live at VirtualInvestorConferences.comon March 14th.
  • This will be a live, interactive online event where investors are invited to ask the company questions in real-time.
  • At December 31, 2018, the Company reported $401.7 million in total assets, $349.1 million in deposits, and $290.1 million in portfolio net loans.
  • In 2018, Prime Meridian Bank ranked third in both mortgage dollar volume and number of mortgage originations in Leon County among all financial service providers.

New Research Shows FICO® Scores are the Most Widely Used in the Securitization Market

Retrieved on: 
Tuesday, February 26, 2019
Finance, Money, Economy, Personal finance, United States housing bubble, Subprime mortgage crisis, Structured finance, Financial law, Subprime lending, Asset-backed security, Securitization, FICO

* In addition, Mercator found 100% of Trusts collateralized with auto leases, auto prime and subprime, and timeshares use FICO Scores to depict asset quality.

Key Points: 
  • * In addition, Mercator found 100% of Trusts collateralized with auto leases, auto prime and subprime, and timeshares use FICO Scores to depict asset quality.
  • "As consumer credit of all types is on the rise, FICO Scores remain a vital tool in the lending and securitization market, as evidenced by the fact that the vast majority of securitization disclosures include FICO Scores to help investors assess the credit risk of the trust," said Brian Riley, director at Mercator Advisory Group's Credit Advisory Service.
  • "Our study found only three asset-backed deals did not use a FICO Score to assess collateral quality demonstrating that FICO Scores continue to be the primary source for evaluating asset-backed risk."
  • Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries.

KBRA Assigns Preliminary Ratings to Arroyo Mortgage Trust 2019-1 (ARRW 2019-1)

Retrieved on: 
Tuesday, February 19, 2019
Professional services, Banking, Finance, Insurance, Finance, Money, Economy, Kroll Bond Rating Agency, Mortgage loan, Subprime lending, Credit rating agency

Kroll Bond Rating Agency, Inc. (KBRA) assigns preliminary ratings to six classes of mortgage-backed notes from Arroyo Mortgage Trust 2019-1 (ARRW 2019-1), a $291.8 million non-prime RMBS transaction.

Key Points: 
  • Kroll Bond Rating Agency, Inc. (KBRA) assigns preliminary ratings to six classes of mortgage-backed notes from Arroyo Mortgage Trust 2019-1 (ARRW 2019-1), a $291.8 million non-prime RMBS transaction.
  • ARRW 2019-1 is sponsored by Arroyo Mortgage Acquisition Company II LLC (AMAC II), an affiliate of Western Asset Management Company (WAMCO).
  • The loans were underwritten primarily using non-traditional income documentation sources to borrowers with substantial equity.
  • This analysis is further described in our U.S. RMBS Rating Methodology.

KBRA Assigns Preliminary Ratings to Sequoia Mortgage Trust 2019-CH1 (SEMT 2019-CH1)

Retrieved on: 
Thursday, February 14, 2019
Professional services, Banking, Finance, Insurance, Finance, Economy, Money, United States housing bubble, Structured finance, Subprime mortgage crisis, Mortgage-backed security, Kroll Bond Rating Agency, Mortgage loan, Subprime lending

Kroll Bond Rating Agency (KBRA) assigns ratings to 59 classes of mortgage pass-through certificates from Sequoia Mortgage Trust 2019-CH1 (SEMT 2019-CH1) is an RWT Holdings, Inc. (Redwood) sponsored residential mortgage-backed securities (RMBS) 2.0 issuance, which includes a significant concentration of collateral that KBRA considers to be expanded prime.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns ratings to 59 classes of mortgage pass-through certificates from Sequoia Mortgage Trust 2019-CH1 (SEMT 2019-CH1) is an RWT Holdings, Inc. (Redwood) sponsored residential mortgage-backed securities (RMBS) 2.0 issuance, which includes a significant concentration of collateral that KBRA considers to be expanded prime.
  • The SEMT 2019-CH1 mortgage pool comprises 475 first-lien mortgage loans with an aggregate principal balance of $341,077,904, as of the cut-off date.
  • The underlying collateral consists entirely of fixed-rate mortgages, nearly all of which are fully amortizing.
  • For complete details on the analysis, please see our pre-sale report, Sequoia Mortgage Trust 2019-CH1, which was published on February 14, 2019 on www.kbra.com .