Secondary

It's the sponsor's first securitization to be rated by Morningstar; DBRS and Kroll Bond Rating Agency are still capping their ratings of Property Assessed Clean Energy bonds at double-A.

The Salt Lake City company also benefited from increases in investment securities and several large loan recoveries during the quarter.

The New York company, which is preparing to buy Astoria Financial, reported year-over-year increases in commercial-and-industrial and commercial real estate loans.

Policymakers should differentiate between housing finance-related issues of real importance to the greater public interest, and those that concern only special interests.

The Michigan company had fewer gains from loan sales. It also reported an increase in noninterest expenses.

While Freddie Mac is moving cautiously into buying manufactured housing loans not secured by land, Fannie Mae is moving more aggressively. Industry representatives are divided on which approach is superior.

Rather than working with large-scale investors, Freddie Mac said it will focus on assisting community organizations and local institutions to fund single-family properties for renters with special needs.

Unlike the $15 billion-asset bank’s legacy mortgage bonds, the new offering is backed by loans to borrowers with strong credit and significant equity in their homes.

Double-digit growth in loan volume offset a decline in fee income at the Honolulu company.

Ocwen Financial finalized the deal to sell its interests in $110 billion of nonagency mortgage servicing rights to New Residential Investment Corp. for total consideration of $400 million.