Finance

Glenn Costello, a structured finance veteran cited through the years in the pages of the Asset Securitization Report for his sharp analysis, particularly of residential mortgage-backeds, died on April 6.

A subsidiary of Chimera Investment Corp. has just closed a $268.7 million RMBS, according to a private placement memorandum obtained from a market source.

Consumer demand for housing has dropped to its lowest recorded level due to reduced confidence in financial security and income raises, a new survey from Fannie Mae says.

Jernigan Capital has listed 5 million shares of its common stock in an initial public offering.

Fannie Mae plans to sell pools of nonperforming single-family mortgages.

While arrangements to finance MSRs may represent the cheapest way to address liquidity, other avenues of adding cash may be available and necessary.

Freddie Mac's next STACR offering will offer investors exposure to actual losses on residential mortgages, something the mortgage giant says investors have been asking for.

Holders of servicing rights will soon demand more than the basics from these third-party providers. Subservicers may be expected to help promote an institution's nonmortgage products or provide portfolio analytics.

John W. Allison is always on the hunt for non-dilutive deals that will boost his Arkansas company's earnings. That has largely led to deals for Florida banks, but Home just agreed to buy nearly $300 million in nationwide commercial real estate credits and recruited a team to open a loan production office in New York.

The plan by the Federal Home Loan Bank of Topeka is intended to reduce the bank's mortgage concentration risk while also providing members with a new investment opportunity.

Mortgage rates largely stayed put amidst mixed housing data as the March jobs report looms.

Pretax profits fell by 28.4 basis points in the fourth quarter for independent mortgage bankers due to rising operating expenses, according to accounting firm Richey May's quarterly trend report.

Pacific Investment Management Co. accused American International Group Inc. of misleading investors about "colossal" losing bets on unregulated credit-default swaps and subprime debt before the 2008 financial crisis.

FirstKey Lending is securitizing $241 million of fixed-rate loans it made to landlords for the purchase of buy-to-rent, single-family homes, according to a presale from Kroll Bond Ratings Agency.

Blackstone Group's latest sale of bonds backed by rental homes found robust demand from investors, particularly the riskiest portions of the offering, as the market prepares for a new breed of the securities.

Independent mortgage banks and mortgage subsidiaries of banks saw their production profits rise in the fourth quarter compared to a year earlier, according to the Mortgage Bankers Association.

A CMBS backed by 76 mortgages that are in turn secured by 91 properties is coming to market, according to presales by Fitch Ratings and Kroll Bond Rating Agency.

Some nonbank issuers of mortgage-backed securities are wrestling with capital pressures, and Ginnie Mae has cooperated with their efforts to sell chunks of mortgage-servicing-revenue streams to investors.

The National Association of Hispanic Real Estate Professionals has issued an industrywide call to improve access to affordable housing.

Mel Watt, the former North Carolina lawmaker, has earned praised for his cautious approach to guiding the future of Fannie Mae and Freddie Mac. But critics say he is making it even more difficult to craft a system without them.