Securitization

General Electric placed its WMC Mortgage unit into Chapter 11 bankruptcy protection as it has nearly $1.7 billion in legal settlements agreed to or pending.

The trio of malls collateralizing the new mortgage include two well-performing mall as well as a troubled Florida super-regional shopping center.

An industry working group might seek legislation to eliminate the need for investor consent in the shift to a new benchmark interest rate. But any legislative fix is almost certain to be challenged because choosing an alternative to Libor will inevitably favor one party in a transaction over another.

Investors include New Orleans sports franchise owner Gayle Benson, placing the hotel under local ownership for the first time since it was built in 1976.

General Electric Co. finalized an agreement to pay $1.5 billion to settle a U.S. investigation into the manufacturer's defunct subprime mortgage business.

Non-qualified mortgage-backed securities record issuance in the first quarter puts it on pace to top full-year volume predictions, according to Keefe, Bruyette & Woods.

The bank agreed to modify loans to struggling U.S. borrowers as part of a 2017 settlement. Instead, it’s receiving credit for financing new mortgages that likely would have been made anyway.

HomeStreet Bank could receive nearly $190 million in total for selling $14 billion in mortgage servicing rights to New Residential and PennyMac, and selling its home loan centers to Homebridge.

The commercial mortgage-backed securities delinquency rate increased for the first time since October lead by a 31-basis-point rise in late payments for loans secured by retail properties, Fitch Ratings said.

Controlling classes of investors in commercial mortgage-backed securitizations can replace a special servicer, but before they do, they should make sure the long and potentially expensive process is worth it.

The fate of U.S. office markets is intertwined with that of the biggest technology companies, Starwood Capital Group Chairman Barry Sternlicht said.

The Structured Finance Industry Group wants Treasury and the IRS to issue a notice that a change from Libor to an alternative index would not be treated as a taxable exchange.

Freddie Mac exchanged existing bonds from its portfolio for mirror certificates for the first time, completing a key test that is central to the creation of a uniform mortgage-backed security.

While reinsurers are becoming more comfortable with the risk it is offloading, the GSE wants to maintain control of the workout process for loans that go bad.

Depending on market conditions and demand from whole loan buyers, it could fund 25% to 35% of fix-and-flip loans through deals like the $219 million one it just completed.

At $230 million, GSMBST 2019-PJ1 is notably smaller than recent transactions from JPMorgan and Redwood Trust; borrowers also have less equity in their homes.

The Federal Reserve decision to shift into Treasuries could pull rates down and increase the prepayment speeds on mortgage-backed securities.

The 30-year mortgage rate dipped lower than it was 12 months ago for the third week running, according to Freddie Mac's latest report.

The Federal Reserve will roll its maturing holdings of mortgage-backed securities into Treasuries starting after September, capping it at $20 billion per month.

Two Harbors Investment Corp., which grew its servicing portfolio by 22% in the fourth quarter, priced a common stock offering to raise funds to buy more rights as well as mortgage-backed securities.