Securitization

The deals are backed by a fixed-rate loan with a term of 10 years, the longest loan tenure to date for such deals.

Credit Suisse's DLJ Mortgages is marketing a reperforming mortgage securitization, according to Kroll Bond Rating Agency.

The risk that the failure to refinance a loan collateralizing a single-family rental securitization would cascade into a "widespread" decline in property prices is low, according to Moody's Investors Service.

Bond investors are wresting higher yields from landlords in the fledgling business where rental homes are financed by credit markets.

Fannie Mae priced its final risk-sharing offering for this year of Connecticut Avenue Securities bonds for $1.45 billion.

The New York unit of Japanese securities firm Nomura Holdings may be three traders short after reportedly placing them on leave, but the firm is said to have muscled away a large auction held yesterday.

The Federal Reserve Bank of New York has selected Mischler Financial Group, Brean Capital and Loop Capital Markets to participate in its mortgage-backed securities pilot program.

The company is a new player in the market linked to Cerberus, an investor in pre-downturn jumbo securities market participants.

The underlying loan is fixed-rate and amortizes on a monthly basis over a term of 10 years, the longest loan tenure to date that has backed a single-family rental securitization.

Fannie Mae has entered into deals with JPMorgan Chase and other companies that transfer some of the credit-loss risk on mortgage-backed securities to investors. Not only do these deals reduce the danger that taxpayers could be forced to cover the GSEs losses, they may help make mortgages more affordable.

Federal prosecutor Loretta Lynch may soon replace Attorney General Eric Holder, leaving bankers wondering whether she will be tougher on institutions than her predecessor.

A renewed interest in subdivisions that stalled during the recession is likely the main reason the California Debt and Investment Advisory Commission reported doubling of refunding volume in land-secured Mello-Roos bonds from fiscal year 2011-12 to 2012-13, according to government consultant Larry Kosmont.

Commercial mortgage-backed security delinquencies declined during October, according to Fitch Ratings.

Despite policy changes that apply to new reverse mortgages, the rights for existing spouses of deceased borrowers remain unclear and subject to change until HUD and litigants agree on a final policy in line with court directives.

PennyMac Mortgage Investment Trust and its sister company, PennyMac Financial Services, reported a rise in quarterly profits.

BlackRock, the world's biggest money manager, and private-equity firm KKR & Co. have gained a majority stake in Home Partners of America, a single-family rental company backed by Lew Ranieri.

Private investors backing firms like RPM Mortgage are placing bets on lenders in the U.S. home loan business once dominated by Wall Street's largest banks.

Justices seem to struggle with what rescission actually means in practice and in the Truth-in-Lending Act.

Count Two Harbors Investment Corp. among investors looking for profits in riskier home loans — and expecting a market for bonds backed by them to re-emerge even with safer issuance showing limited signs of life.

Until Congress gets around to GSE reform, the FHFA could at least make Fannie and Freddie less expensive to run. Combining the companies would reduce the threat that they will need more support from the Treasury and perhaps lower the cost of obtaining a mortgage.