Special Report on
Prepayment analysis for securitization
Prepayment analysis for securitization - Trends
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40%. The three lines show jumbo, alt-A, and subprime. Percentage and years are compared. Source: UBS analysis of data from LoanPerformance. Note: Percentages represent the dollar amount of purchase and refinance mortgages originated in the year indicated and pooled into private label securities that have certain characteristics. In dollar terms, jumbo, Alt-A, and subrprime mortages represented about 19, 16, 24 percent of mortgage originations in 2006 (exliding home equity loans), respectively. [End of figure] Developments Associated with Recent Trends Easing of Underwriting Standards and Wider Use of Certain Loan ...
Lehman Brothers lives in U.S. reverse mortgage history. The Federal Housing Administration’s (FHA) home equity conversion mortgage (HECM) has had Fannie Mae’s deep pockets as a secondary market source of cash for reverse mortgage lenders since its inception in 1989. And since 2007, Ginnie Mae has opened HECM to world investors through its HECM mortgage-backed security (HMBS). For the proprietary (non-HECM) reverse mortgage market to take off, a strong Wall Street cash machine was needed. Lehman Brothers stepped in and the securitization of non-HECM reverse mortgages in the U.S. ... Read More
SURVEY RESULTS FOR
PREPAYMENT ANALYSIS FOR SECURITIZATION
S1. What is Securitization?
What is a securitization?