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The deal is only the third post-crisis securitization of higher-risk manufactured housing assets, following deals in 2019 and 2020 that were sponsored by FirstKey Mortgage.
By Glen FestMarch 1 -
Ratings agencies describe a "notable" concentration of alternative-income mortgages in the nonforming pool that were underwritten by Ellington-affiliated LendSure.
By Glen FestFebruary 18 -
DLJ and Nomura Corporate are sponsoring portfolios of mostly previously modified, well-seasoned mortgages that have at least two years of clean-current payment status.
By Glen FestJanuary 27 -
The weighted average seasoning is 34 months, well above that of prior Invictus-sponsored deals on the Verus shelf that are typically new originations under 10 months.
By Glen FestJanuary 13 -
The transaction finances the loan portion of a $989.5 million acquisition of warehouse and distribution properties located in nine states.
By Glen FestJanuary 13 -
The transaction features a pool of non-qualified mortgages with a higher-than-average delinquency rate driven by COVID-19 relief plans.
By Glen FestJanuary 8 -
The first commercial mortgage securitization is backed by eight recently acquired garden-style apartments in five states.
By Glen FestJanuary 6 -
While the balance of newly delinquent loans fell by 50% from November, the ratings agency warned that many borrowers will likely struggle to bring loans current under ongoing pandemic conditions.
By Glen FestJanuary 5 -
Reports indicate distressed owners would rather surrender their hotel or retail properties instead of negotiate workouts on delinquent loans as the pandemic spread carries on.
By Glen FestJanuary 4 -
The reference pools of mortgages supporting the credit-risk transfer notes sold by Fannie Mae and Freddie Mac were 'generally lower' in delinquencies per newly issued monthly reports, says DBRS Morningstar.
By Glen FestDecember 31