REITs

Continued diversification of its business lines and better margins in its securitization activities helped Redwood Trust overcome steep mortgage origination declines and post nearly 14% annual growth in net income during the third quarter.

The unique approach Fannie Mae and Freddie Mac are each taking with their credit-risk transfer products is quickly becoming a key point of differentiation that's rekindling competition between the government-sponsored enterprises.

Laurel Davis, VP, credit risk transfer at Fannie Mae, explains why the switch to a REMIC structure for CAS is important, and why it took so long.

The structure reduces counterparty risk in the GSE's benchmark Connecticut Avenue Securities program; it also expands the investor base.

New York developer Silverstein Properties Inc. built a $4 billion pipeline of real estate deals just weeks after starting. None of the money was for buildings it will own.

A former Federal Home Loan bank president argues that the system should limit its exposure to risky nonbanks.

Annaly Capital Management will be able to proceed with a delayed exchange offer needed for its acquisition of MTGE Investment Corp. because it has been able to satisfy incomplete deal conditions.

The expiration of Annaly Capital Management's offer to purchase MTGE Investment Corp. was delayed until Sept. 7 so the two real estate investment trusts have more time to satisfy deal conditions.

Blackstone Group has made its first bet on manufactured housing by buying a portfolio of communities sold by Tricon Capital Group.

Blackstone Group is doubling down on industrial real estate by buying Gramercy Property Trust, the second multibillion-dollar takeover of a warehouse company in as many weeks with the growth in e-commerce raising demand.

A bill to allow captive insurance companies to be reinstated as members of the Federal Home Loan Bank System appears to be dividing the FHLB community.

Three senators have unveiled a bill that would allow captive insurance companies to regain full membership in the Federal Home Loan Bank System.

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.

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.

Houston’s hotel market, already the worst-performing in the U.S., is poised to take a further beating from Hurricane Harvey as the natural disaster creates chaos in a city that’s been reeling from low oil prices for the past three years.

MFA Financial Inc. co-CEO William Gorin died Aug. 10 after a long illness. He was 59.

Redwood Trust is raising $225 million in a debt offering with the proceeds to be used to repay borrowings that come due next year.

New entrants in mortgage servicing are rethinking how business is done, creating more division between holders of mortgage servicing rights and the entities that actually manage loans.

Global Index Group has developed a new product based on the NCREIF Property Index, which measures the performance of some $525 billion of CRE held on behalf of tax-exempt institutions.

Profits at Mill Valley, Calif.-based Redwood Trust shrank during the fourth quarter, reflecting lower interest income and net losses on the fair value of investments.