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Non-Tech : Investing in Real Estate - Creative Opportunities
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To: tejek who wrote (2260)5/25/2014 10:59:04 AM
From: John Vosilla   of 2722
 
I was talking about great opportunities in so many areas where prices are dirt cheap relative to rents or incomes and what I am projecting to happen down the road in 3-4 years in those currently depressed markets. Yes the bubbles are localized but those areas have a huge population base plus very large concentration of wealth and income. Big cities of the NE and west coast very expensive this will spread as this RE cycle continues, equity, consumers and business move to lower cost areas and credit conditions ease for marginal buyers yet again.

05/23/2014

Impac Dusts Off Mortgage-Bond Program

Here’s a blast from the past: Impac Mortgage is planning a home-loan securitization.

The Irvine, Calif., operation — a prolific issuer of bonds backoriginationed by alternative-A mortgages prior to the credit crisis — has focused almost entirely on conforming home loans in recent years. But with a new mortgage- program rolling out in the next few weeks, it once again plans to tap securitization for funding.

The origination push is focused on loans that fall short of “qualified-mortgage” guidelines established by the Consumer Financial Protection Bureau. Among other things, the guidelines for qualified mortgages cap a borrower’s monthly debt payments as a percentage of income at 43%, limit loan terms to 30 years and prohibit interest-only loans.

Impac’s planned bond offering is expected to hit the market in the fourth quarter. The lender already has talked to several leading mortgage-bond underwriters, and is working closely with rating agencies.

In addition to writing loans, Impac will buy collateral from other originators via a correspondent-lender program. It now is arranging warehouse lines with several financing companies.

From 1998 until it ceased issuing in 2007, Impac sold $62.8 billion of mortgage-backed securities, according to Asset-Backed Alert’s ABS Database.


http://www.abalert.com/headlines.php?hid=190988





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