Securitization

Banks' lowering of origination fees and loosening of underwriting standards often foreshadow a downturn.

The government-sponsored enterprises’ plan to cease accepting loans pegged to the London interbank offered rate a year ahead of its scheduled expiration is expected to hasten action in securitized markets.

Despite a drop in multifamily loan volume, industrial, health care, office and retail originations pushed overall multifamily and commercial mortgage lending to unprecedented heights, according to the Mortgage Bankers Association.

Default rates for prime jumbo mortgages will increase, but a strong economy and rising home prices will bail most borrowers and lenders out, Moody's said.

The mortgage securitization market can expect some changes, particularly in the specified pool and to-be-announced markets, alongside a continuation of trends in other areas.

The loan participation is part of a debt refinancing package that paves the way for expanding the Parkmerced mega-development.

Trade associations representing mortgage lenders and securities market participants are asking the Federal Housing Finance Agency to rethink a plan to restrict pooling options for loans sold into uniform mortgage-backed securities.

Radian Group sold Clayton Services, a due diligence company it acquired in the 2014 purchase of Clayton Holdings, to Covius Holdings.

Fannie Mae is sponsoring a $1.03B CRT transaction, while Caliber Homes Loans, New Residential and Onslow Bay fill the non-QM pipeline

The delinquency rate for commercial mortgage-backed securities ended 2019 at its lowest point in nearly 11 years, aided by increased issuance and the resolution of legacy transactions, Fitch Ratings said.

A New York-based real estate investment firm is financing its acquisition of a portfolio of nationally branded hotels via the commercial mortgage securitization market.

Goldman Sachs is sponsoring a $1.33 billion bond offering backed by commercial mortgages, in the first rated conduit deal of the year.

Bridge REIT LLC is sponsoring a $449.6 million bridge-loan securitization backed mostly by transitional multifamily properties.

High-grade corporate bonds bested mortgages by a wide margin in 2019 and are likely to outperform them again this year, according to JPMorgan Chase & Co.

Instability among foreign relations typically drags down long-term interest rates and the latest crisis with Iran could be a catalyst for a drop in 2020, according to NerdWallet.

Redwood Trust’s next mortgage-backed securitization consists almost entirely of older mortgages it originally sold off, but has since reacquired to assign to its first deal of the new year.

DBRS Morningstar's presale report raises concerns that the securitized loan for Onni Group's Wilshire Courtyard faces considerable risks from the business volatility of its largest tenant.

The $458.87 million HalseyPoint CLO1, via JPMorgan, is the first deal by the firm that was launched in May 2018 by two former Columbia Asset Management portfolio managers.

Fitch may use a new Structured Finance Association framework aimed at prioritizing only riskier TRID errors to assign grades to loans sold into residential mortgage-backed securities, reducing rating-related compliance burdens.

Issuance of Ginnie Mae mortgage-backed securities slipped after several months of gains, but high volume still pushed the year-to-date total for 2019 ahead of 2018’s full-year figure.