Finance

The sponsor has refrained from multi-borrower deals since March 2020, but has pooled together 28 loan participations from 40 properties – including notable concentrations in retail and lodging.

The company posted an $88 million loss for 2020 after shutting down for nearly the entire second quarter.

The government-sponsored enterprise announced Wednesday it will change eligibility criteria for vacation homes and investor properties starting April 1 to fulfill a directive by former Treasury Secretary Steven Mnuchin.

After a booming 2020, more mortgage lenders than ever before expect diminishing margins in the coming months as climbing interest rates set up heightened competition.

Mortgage brokers are telling the company that they "are looking for another large source," according to President and CEO Willie Newman.

The bond issuance out of Fortress' CF Hippolyta master trust will finance 19 newly constructed or planned Amazon distribution and logistics facilities in 15 states.

Three announced deals from Woodward Capital, Redwood Trust and Wells Fargo are set to price before the end of the month; additional transactions are expected soon from Morgan Stanley and Goldman Sachs.

Progress toward replacement benchmarks, such as the Secured Overnight Financing Rate in the U.S. and the Tokyo Overnight Average Rate in Japan, has been sluggish, and there are hopes Friday’s announcement could accelerate the process.

The 18 centers operated by industrial real estate management firm LBA Logistics are nearly all warehouse/distribution types, with no flex-industrial space pooled into the collateral mix.

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.

But profitability may have peaked. Rocket reported a 4.41% profit margin on newly originated loans last quarter but told investors on Thursday to expect margins on new loans this quarter to be around 3.6% to 3.9%.

The $16.9 billion in issuance marked the biggest annual number seen since the government-sponsored enterprise reconstituted its risk sharing program in 2013.

As its mortgage origination volume delivered another quarter of strong earnings, Mr. Cooper’s banking on its "enormous backlog" of REO orders to generate further profitability once the foreclosure moratorium is lifted.

The former president of the private mortgage insurer is coming out of retirement to direct the bank's missions on affordable housing, community and economic development.

The decision provides more clarity to noteholders in the state about when the six-year statute of limitations to bring a foreclosure action begins.

The newly public digital mortgage giant is relying on a diverse set of loan channels to take on competitors in an increasingly crowded field, CEO Anthony Hsieh said in an earnings call this week.

Ratings agencies describe a "notable" concentration of alternative-income mortgages in the nonforming pool that were underwritten by Ellington-affiliated LendSure.

In their detailed presentation to the FOMC last month, Fed staff “assessed asset valuation pressures as elevated” — their highest characterization of risk.

Morningstar Credit Ratings LLC let analysts make undisclosed adjustments that resulted in higher ratings of mortgage-backed securities for issuers that paid for the rating, the U.S. Securities and Exchange Commission said in a lawsuit against the rating agency.

Also: New Residential, Fannie Mae and Freddie Mac release Q4 earnings reports