Non-QM loans bend underwriting less than subprime did: DBRS

Non-QM loans bend underwriting less than subprime did: DBRS

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Non-QM loans bend underwriting less than subprime did: DBRS securitized loans originated outside the Qualified-Mortgage rule’s parameters have looser underwriting guidelines than mainstream loans do today, but are more tightly underwritten than past subprime or alternative-A products, according to DBRS.

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Non-QM loans bend underwriting less than subprime did: DBRS Non-QM loans bend underwriting less than subprime did: DBRS Securitized loans originated outside the Qualified-Mortgage rule’s parameters have looser underwriting guidelines than mainstream loans do today, but are more tightly underwritten than past subprime or alternative-A products.

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Main items of concern revolve around the treatment of loans that do not fall under the safe harbor rules, exposure to borrower claims and defenses, underwriting and documentation standards as they relate to determining a borrower’s residual income under ATR standards and rating agency considerations.

Credit Suisse and Nomura, for example, are supplying lines of credit to originators and underwriting securitisations of subprime mortgages. fitch, DBRS and. just a handful of non-QM loans written.

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Non-QM loans bend underwriting less than subprime did: DBRS 3 weeks ago admin Securitized loans originated outside the Qualified-Mortgage rule’s parameters have looser guidelines than mainstream loans do today, but are more tightly underwritten than past subprime or alternative-A products, according to DBRS.

Issuance of securitizations backed by loans made outside the parameters of the qualified mortgage definition could be between $14 billion and $20 billion this year. Some recently issued RMBS consisting of reperforming mortgages have a 25-basis-point servicing fee. But precrisis legacy securitizations typically had twice that amount.

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