Industry Briefs, December 24, 2024

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KBRA Announces HELOC/CES Credit Index

KBRA, New York, announced a HELOC/CES index that tracks new issue private label securitizations backed by home equity lines of credit and closed-end second mortgages.

HELOC and CES account for about 4.5% of outstanding private label securitizations tracked in KBRA’s RMBS Credit Indices.

In 2025, KBRA is introducing the HELOC/CES index to the RMBS Credit Indices report, which tracks early-, mid- and late-stage delinquencies, observed modifications, prepayment speeds and other metrics across major RMBS 2.0 subsectors.

Dovenmuehle Earns Tier 1 Rating From HUD TRS II Scorecard

Dovenmuehle, Lake Zurich, Ill., announced it received a Tier 1 rating from the U.S. Department of Housing and Urban Development. Specifically, it was awarded for the firm’s Federal Housing Administration servicing performance under HUD’s Tier Ranking System II.

The TRS II assigns an “A” to Tier 1 performers and assesses servicers across areas including early delinquency intervention and Single-Family Default Monitoring System reporting.

It highlights Dovenmuehle’s success in meeting FHA standards related to delinquent loan servicing, foreclosure prevention, loss mitigation and reporting requirements. Dovenmuehle has received a 100% loss mitigation engagement score.

A&D Mortgage Announces New Non-QM Securitization

A&D Mortgage, Fort Lauderdale, Fla., along with Atlas Merchant Capital, New York, and Imperial Fund Asset Management, Hollywood, Fla., have priced the latest securitization: A&D Mortgage Trust 2024-NQM6.

It’s a $303.9 million transaction backed by 872 newly originated nonprime residential mortgages. It leverages a diverse portfolio of loans, with nearly 88% with alternative income documentation methods.

A&D Mortgage serves as the primary servicer, with Nationstar Mortgage (d/b/a Mr. Cooper) as master servicer.