Secondary

Parkway Properties says 7000 Central Park is a Class A office tower that is expected to generate initial full-year cash net operating income yield of approximately 5%.

The JPM settlement’s payout ratio compared to losses is less than 7%. The Countrywide settlement offered bond investors a payout ratio of almost 11% of losses, according to Barclays.

Lenders facing volume declines are selling mortgage servicing rights to bolster their revenue.

Standard & Poor’s, a unit of New York-based McGraw Hill Financial Inc., had argued that its ratings are opinions are protected by the First Amendment of the U.S. Constitution.

The accord still needs approval from trustees overseeing the securities and may be subject to court review.

The San Francisco bank will be joining the MPF Xtra program next year.

The November timing for the deal is good because spreads on new issues have come in over the last 60 days.

Purchasing homes from Zillow has been fueled by huge resets in home prices since market peak, historically low mortgage rates and an improving economy.

Going back to a “mutual” model and selling off risky bonds could help cue underwriters about how to evaluate risk.

The firm is the first large institutional investor to buy a stake in the company. Founding management and original investors still control a majority share.