Deep Dive – Moody’s Recent RMBS Rating Action
On April 15, 2020 Moody’s placed 404 classes (bond) of legacy US RMBS on review for downgrade, and downgraded and placed on review for further downgrade 48 classes for a total of 441 classes impacted. The 48 downgrades ranged from 1 to 4 notches. All the classes downgraded are now rated Baa3, the lowest investment […]
Peace of Mind – Collaborating with Microsoft Teams
Is Microsoft Teams on your radar? Some of our large financial services clients are rolling it out, and the consulting vertical I lead (Resource Solutions) at The Oakleaf Group has just piloted Teams. Our greatest benefit thus far (5 weeks in) is peace of mind. Yes, we are saving time, delivering more efficiently and leaving […]
Investment Opportunities in Select Senior Most Subordinate (M1) RMBS from 2005-2007 Vintage
Oakleaf’s Modeling & Analytics group recently reviewed the survival rate of the M-1 bonds supported by various types of RMBS underlying collateral issued during the 2005 to 2007 timeframe. A significant number of M1s are acting like options which are just out of money and are poised to significantly benefit from remediation, servicing enhancements and […]
The Oakleaf Group Reviewed by Morningstar Credit Ratings as RMBS Third-Party Due Diligence Firm
The Oakleaf Group (Oakleaf), a premier provider of mortgage loan due diligence, data, modeling, analytics and advisory services, has been reviewed by Morningstar Credit Ratings (Morningstar) and is now eligible to act as a third-party review (TPR) firm on new-issue RMBS rated by Morningstar. Chris Milner, Oakleaf’s President and CEO, said, “Oakleaf Group’s due diligence […]
Wells Fargo Agreed to a Settlement
Wells Fargo agreed to a settlement with several groups of institutional investors in November 2018. The date to be excluded from this settlement is April 15, 2019. This settlement involves two class action lawsuits relating to Wells Fargo’s role as trustee for residential mortgage-backed securities issued pre-crisis. According to the Notice of Pendency of Class […]
Optional Call and Redemption Process for Non-Agency RMBS
A review of a large sample of non-agency RMBS transactions, which are backed by varying types of collateral, revealed that optional call eligibility varied depending upon the type and vintage of underlying collateral. Based on the review sample, the trusts, backed by subprime collateral, are the first to become eligible for an optional call, followed […]
The Oakleaf Group Added to S&P Global Ratings List of Reviewed Third-Party Due Diligence Firms
We’re thrilled to announce that The Oakleaf Group has been added to Standard & Poor’s Global Ratings (S&P) list of third-party review firms (TPRs). This important addition to the list indicates that S&P Global Ratings has completed their review and validated that Oakleaf meets the assessment factors discussed in their criteria “Methodology and Assumptions for Rating U.S. RMBS […]
U.S. Securities and Exchange Commission Issues Multiple IDIQ Awards to The Oakleaf Group
The Oakleaf Group, a premier provider of financial analytics support and risk management solutions, was recently awarded two IDIQs on the SEC’s Quantitative Research Analytical Data Support (QRADS) vehicle, a program under The Division of Economic and Risk Analytics (DERA). The IDIQ awards consist of providing support to SEC’s DERA with Analytical Tool Development as […]
Trustee Bond Administration Quality Varies Significantly
Under my direction, the Modeling and Analytics division of Oakleaf Group aggregates published loan level data for RMBS transactions and checks the “waterfall” cash allocation rules that apply to each trust. We have reconciled hundreds of trusts over thousands of remittance months administrated by all major trustees. Surprisingly, there is significant variation in the performance […]
Oakleaf’s Christine Brunie Named One of HousingWire’s 2018 Women of Influence
Congratulations to Oakleaf Group Managing Director Christine Brunie for being recognized by HousingWire Magazine as one of the mortgage and housing industry’s top “Women of Influence”. Now in its eighth year, the issue recognizes the women leading the mortgage and housing industry forward. The women represent a variety of occupations within the housing economy, each […]
Five Big Challenges of Servicing Modified Adjustable Rate Mortgages
Oakleaf has been performing audits on modified ARM and HELOC portfolios for over a decade. We have been seeing a higher incidence of problems associated with servicer books. Below are five of the biggest challenges that are currently trending: People are creative. In an apparent rush to add value, portfolio managers and loss mitigation teams […]
Resourcing for Initiatives
Now that you have received funding approval for your multi-year, cross-department corporate initiative, the clock is ticking. Large transformation projects typically involve data migration, systems changes, additional hands-on-deck and new skill sets. Business areas tend to lead these projects, and depending on your IT support, the business area may also own the selection and management […]