Certified Forensic Loan Auditors, LLC

  Upcoming Classes

Search CFLA's Article Archive:

Citi Preps Securitization of Seasoned Home Loans

nationalmortgagenews.com | February 24, 2014

Five classes of Citigroup Mortgage Loan Trust 2014-A received preliminary investment-grade ratings ranging from AA(sf) to BBB(sf), and one tranche received a speculative grade preliminary rating of B(sf), according to Standard & Poor's and DBRS reports. The deal has one senior class with a 4% interest rate, one interest-only class, and five subordinate classes with roughly a 5.44% interest rate, according to S&P.

"Citi has issued other seasoned transactions in the past few years (not a lot but a few)," said Quincy Tang, managing director, DBRS told this publication in an e-mail response to a question. "This recent deal, CMLTI 2014-A, is one of the very few, if not the only one that consisted of collateral from collapsed, or terminated, seasoned transactions."

First-lien, one-to-four family, condominium and planned unit development loans back the deal, according to S&P. The borrowers have higher credit scores and more home equity than in comparable securitized prime credit loan pool and approximately 35% of loans are in California. Twenty percent are in New York.

The seller lacks any representations and warranties related to fraud, but currently all the loans in the pool are performing and less than 3% of the pool was modified, according to DBRS.

Seasoned residential mortgage securitization was the first type of private-label residential mortgage-backed securities issuance to return after a severe downturn effectively shut down a boom in loosely underwritten, new origination deals between 2005 and 2007 ended. Loans originated around 10 years ago mark the last vintages originated before the boom. The loans come from terminated Citi securitizations issued in 2004 and 2003, according to DBRS.


Back to February 2014 Archive

CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

SEE BELOW- http://www.certifiedforensicloanauditors.com

Call us toll free at 888-758-2352

Bookmark and Share
Facebook Like us on Facebook
Twitter Follow us on Twitter
YouTube View our YouTube Videos
LinkedIn Connect to us on Linkedin
BBB Logo


Contact us or view our Sample Documents & Audits by completing the form below.

International Bloomberg Securitization Audits


DVD Sets Only $99


FREE Mortgage Fraud Analysis


Order Cutting-Edge Services Now


Quiet Title Packages from Licensed Attorneys


Affiliate Services


CFLA Sponsored Attorney Links


Take-Home Education Package