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Deep Dive – Moody’s Recent RMBS Rating Action

Deep Dive – Moody’s Recent RMBS Rating Action

Christine Brunie
Senior Advisor
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...
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Peace of Mind - Collaborating with Microsoft Teams

Peace of Mind - Collaborating with Microsoft Teams

Mary Pat Denney
Managing Director, Resource Solutions
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...
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Investment Opportunities in select Senior Most Subordinate (M1) RMBS from 2005-2007 Vintage

Amit Shrivastava
Manager, Modeling & Analytics
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...
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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

Christine Brunie
Senior Advisor
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 Action the settlement relates to 271 residential mortgage-backed securities trusts held or acquired...
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Optional Call and Redemption Process for Non-Agency RMBS

Christine Brunie
Senior Advisor
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...
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Trustee Bond Administration Quality Varies Significantly

Trustee Bond Administration Quality Varies Significantly

Christine Brunie
Senior Advisor
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...
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Five Big Challenges of Servicing Modified Adjustable Rate Mortgages

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...
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Resourcing for Initiatives

Resourcing for Initiatives

Mary Pat Denney
Managing Director, Resource Solutions
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...
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Oakleaf's Analytics Execution Framework

Oakleaf's Analytics Execution Framework

Chris Milner
Founder, CEO and President
Oakleaf Group brings to our clients our proprietary Analytics Execution Framework, developed over the last decade to optimize analytic business processes at financial institutions and regulators. The execution framework ties together all necessary components to execute analytic processes in an efficient and controlled manner
Oakleaf Group Analytics Execution Framework Process Oakleaf Group brings to our clients our proprietary Analytics Execution Framework, developed over the last decade to optimize analytic business processes at financial institutions and regulators. The execution framework ties together all necessary...
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Reg AB II: Shelf Offerings Disclosure – Does More Data Yield a Clearer Picture of RMBS or PLS Markets a Year After New Regulations?

Reg AB II: Shelf Offerings Disclosure – Does More Data Yield a Clearer Picture of RMBS or PLS Markets a Year After New Regulations?

On August 27, 2014, the Securities and Exchange Commission adopted the final version of revisions to its Regulation AB, in so-called Reg AB II. With a tiered effective date of November 23, 2015 for new Forms 10-D and 10-K, and a more granular loan-level disclosure schedule (in xml format) due after...
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