Secondary

Homes securing the portfolio produce an average monthly rent of $2,405, based on gross potential rent for vacant properties, and an average remaining lease term of eight months.

Securitization would have to see more cycles before the full effect of the COVID-19 pandemic becomes apparent, but loans backing multi-borrower SFRs show more sensitivity to rent collection disruptions.

The Secured Overnight Financing Rate is a concept in search of an actual forward market, writes Whalen.

Non-QM assets overlap almost perfectly with the portion of loans, 52%, financing properties where the borrower intends to maintain as a primary residence.

Production costs reached a high as secondary-market loan sale margins continued to decline.

Current deputy general counsel Wendell Chambliss steps up to the newly created officer position, with the appointment coming after a similar recent hire by Fannie Mae.

The two latest transactions follow in the wake of the government-sponsored enterprise’s first deal of the year and the release of a finalized capital rule aimed at facilitating broader risk-sharing.

The company, which had been spun off to specialize in services for distressed real-estate investment vehicles, will acquire alternative mortgages and seek opportunities in crypto-enabled ATMs.

The company claims its digital registry system is a faster, safer alternative to MERS databases

As the rising rates shrink the number of potential customers, mortgage brokers are seeking these products in order to keep business up.