Investments

Farmer Mac has terminated President and CEO Timothy Buzby for violating company policies not related to its financial and business performance.

A $92 million portion of $194.4 million mortgage on a portfolio of 36 ExtraSpace Self Storage locations is the largest of 42 loans backed backing MSC 2017-HR2.

The deal, BXMT 2017-FL1 weighs in at $1 billion, making it more than twice as large as most CRE-CLOs issued this year; its size isn't the only unusual feature, however.

A provision in the tax bill passed by the House of Representatives would only intensify the housing crunch by crippling affordable housing construction, developers and local government officials say.

A 10-year-old fraud case against two San Luis Obispo County, Calif., lenders has ended in a hung jury.

Benefit Street Partners is securitizing 20 short-term commercial real estate loans it originated or acquired for transitional properties currently with unstable cash flow.

Walter Investment Management Corp. is looking to file for bankruptcy protection by Nov. 30, after lining up $1.9 billion of debtor-in-possession warehouse financing.

The elimination of private activity bonds “would throw gasoline on a housing shortage," said John Chiang, California's treasurer.

PHH Corp.'s net loss grew in the third quarter as the company took a hit from the costs of its transformation to being a subservicer and portfolio retention originator.

Renita Barbee has begun packing up the belongings in her rented South Los Angeles home. She was trying hard to hold her composure as she told her story the other day.

Genworth Financial had net income of $107 million because of its U.S. mortgage insurance business, but it is considering a partial sale of the unit if the parent company isn't acquired by next May.

Nationstar Mortgage Holdings posted net income of $7 million for the third quarter, its first under the new Mr. Cooper consumer-facing brand.

Ocwen Financial Corp. lost $6.1 million in the third quarter, as pretax losses from its origination business outweighed any profits generated from the servicing side.

Fannie Mae is allowing in some situations where mortgage payments are made by someone other than the borrower for the full monthly housing expense to be excluded from debt-to-income calculations.

Third-quarter net income at mortgage technology provider Ellie Mae was higher year-over-year but came in below the previous quarter's number as the company worked to produce gains despite falling originations.

Radian Group reported third-quarter net income of $65 million after taking $57.8 million in pretax charges — $12 million of which is related to the Clayton Holdings restructuring.

Walter Investment Management Corp. was supposed to prosper by snapping up mortgage cast-offs from big banks at fire-sale prices. Instead, Walter is belatedly joining the list of companies burned by the U.S. housing crisis.

Called Structured Agency Credit Risk Securitized Participation Interests, the new securities are backed by mortgage loans, and are not general obligations of the government-sponsored enterprise.

Bank of America set aside $100 million in its reserves for representation and warranty claims ahead of a pending settlement to resolve legacy mortgage issues.

The District of Columbia transaction may have potential on a national level.