Breakout Quarter for Non-prime MBS

CNBC writes that non-prime securitizations are on the rise, citing both recent market transactions, as well as a report from Inside Mortgage Finance. The CNBC article cites a $210 million, non-prime Angel Oak Capital deal as a Q2 2017 highlight that saw $1.08 billion in subprime deals, marking a significant increase some predict will continue into future quarters.

While the number of nonprime MBS is at its highest total since the financial crisis, Guy Cecala, CEO of Inside Mortgage Finance, put that into perspective, "At one point during the housing boom, we had a third of all mortgage originations that were nonprime," stated Cecala.

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