Newcastle Investment Corp., New York, has priced a $450 million collateralized debt obligation in an offering by related entities.Newcastle, an investor in real-estate-related assets, said it is selling $414 million of investment-grade-rated debt in the offering. The CDO is made up of about 63% commercial mortgage-backed securities, about 17% senior unsecured debt of real estate investment trusts, and about 20% real-estate-related asset-backed securities, Newcastle said. Newcastle has acquired about 80% of the assets that will make up the portfolio. The fully invested portfolio is expected to have a weighted average credit rating of BBB-minus.
-
The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
7h ago -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
7h ago -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
8h ago -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
8h ago -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
9h ago -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
10h ago