Securitization

FirstKey Lending priced a $241 million securitization of fixed-rate loans it made to landlords for the purchase of single-family homes.

Nomura Holdings Inc. and Royal Bank of Scotland Group's fight against a billion-dollar government lawsuit over mortgage-backed securities is ending where it started: with the banks blaming the housing crash.

B2R Finance, a company controlled by the Blackstone Group that lends to landlords, has priced its first rental securitization.

The Topeka FHLB's plan to allow participations in newly issued mortgage pools may benefit members institutions and the bank itself — and could soon be imitated by other Home Loan Banks.

Citigroup priced the senior most tranche of its latest commercial mortgage securitization, Citigroup Commercial Mortgage Trust 2015-GC29, just wide of the previous conduit to be sold, by Wells Fargo.

Glenn Costello, a structured finance veteran cited through the years in the pages of the Asset Securitization Report for his sharp analysis, particularly of residential mortgage-backeds, died on April 6.

A subsidiary of Chimera Investment Corp. has just closed a $268.7 million RMBS, according to a private placement memorandum obtained from a market source.

Freddie Mac's next STACR offering will offer investors exposure to actual losses on residential mortgages, something the mortgage giant says investors have been asking for.

John W. Allison is always on the hunt for non-dilutive deals that will boost his Arkansas company's earnings. That has largely led to deals for Florida banks, but Home just agreed to buy nearly $300 million in nationwide commercial real estate credits and recruited a team to open a loan production office in New York.

Pacific Investment Management Co. accused American International Group Inc. of misleading investors about "colossal" losing bets on unregulated credit-default swaps and subprime debt before the 2008 financial crisis.

FirstKey Lending is securitizing $241 million of fixed-rate loans it made to landlords for the purchase of buy-to-rent, single-family homes, according to a presale from Kroll Bond Ratings Agency.

Blackstone Group's latest sale of bonds backed by rental homes found robust demand from investors, particularly the riskiest portions of the offering, as the market prepares for a new breed of the securities.

A CMBS backed by 76 mortgages that are in turn secured by 91 properties is coming to market, according to presales by Fitch Ratings and Kroll Bond Rating Agency.

Some nonbank issuers of mortgage-backed securities are wrestling with capital pressures, and Ginnie Mae has cooperated with their efforts to sell chunks of mortgage-servicing-revenue streams to investors.

Blackstone Group's rental-home finance company plans to offer bonds backed by properties managed by many landlords, the first sale of the debt from multiple borrowers.

Higher credit enhancement did not necessarily pay off for Wells Fargo in its latest commercial mortgage securitization.

The latest securitization of reperforming residential mortgages offers investors less protection against future losses than the previous deal, and has earned correspondingly lower safety scores from Fitch Ratings.

With mortgage giant Freddie Mac finding increased demand this week in the nascent market for its risk-sharing securities, competitor Fannie Mae said it was taking steps to draw more buyers for its own notes.

Commercial mortgage-backed securities servicers have held on to real-estate owned properties for longer than usual, which could lead to a reversal in the declines in liquidations seen recently, according to a Fitch Ratings study.

There are a lot of consumer, investor and regulatory complaints about how the nonbank servicing firm does business, but Morgan Stanley researchers offer reasons why certain investors and borrowers could benefit from sticking with Ocwen.