Securitization

Goldman Sachs affiliate MTGLQ Investors won another bid for Fannie Mae's nonperforming loans, persisting as a buyer for the product even as Fannie keeps working to diversify the investor base.

Bank of America Corp.'s Merrill Lynch unit will pay $15.7 million to settle a U.S. regulator's allegations that it failed to properly supervise traders who persuaded clients to overpay for mortgage bonds by misleading them about how much the firm paid for the securities.

IH 2018-SFR1 refinances three earlier transactions (one each from 2013, 2014 and 2015) and is initially sized at $1.1 billion; it may be upsized to $1.3 billion, depending on investor demand.

All five – Plaza West Covina Mall (Calif.), Franklin Park Mall (Ohio), Parkway Plaza (Calif.), Capital Mall (Wash.), and Great Northern Mall (Ohio) – were built in the 1970s and have JCPenney or Sears as a major tenant.

Fannie Mae is lowering down payment requirements and lender fees on manufactured housing loans to improve affordable housing access.

Blame the decline in the oil and gas industry; many 2014 vintage deals have exposure to a number of multifamily and hotel properties in North Dakota and Texas, according to Fitch.

Since its inception, the qualified mortgage rule has been synonymous with loans purchased by Fannie Mae and Freddie Mac or guaranteed by government agencies. But a broader QM definition could change that by creating more competitive private-label options.

Anticipated changes to the qualified mortgage rule will give lenders more options and force them to rethink their views on risk.

Freedom Mortgage is being punished by a government-owned mortgage guarantor amid concerns that the Mount Laurel, N.J.-based company is helping to enable unnecessary refinances of veterans' loans.

Commercial mortgage bonds are getting stuffed with the lowest-quality loans since the financial crisis by one measure, according to Moody's Investors Service.

There are almost 7 million coastal homes facing more than $1.6 trillion in potential storm-surge reconstruction expenses this year, representing a 6.6% cost increase from last year's hurricane season.

The borrowers behind the $401.6 million COLT 2018-2 have weighted average liquid reserves of $426,633, or nearly twice the level of borrowers backing a deal completed in January.

The $1.56 billion Towd Point Mortgage Trust 2018-2 also features higher exposure to loans on investment properties, in some cases loans backed by single-family homes in more than one state.

Test your knowledge of the secondary mortgage market with this quiz of key industry abbreviations.

Commercial and multifamily loan originations may not be up by much from a year ago, but borrowing and lending behaviors were drastically different in the first quarter.

Requiring solar panels for all newly constructed residences is good news for investors who finance these systems, if only because it will help keep developers afloat, according to Moody’s Investors Service.

After originating more than $1 billion in loans outside the ability-to-repay rule's Qualified Mortgage safe harbor last year, Angel Oak is planning to originate at least twice that in 2018.

Royal Bank of Scotland said it reached a tentative agreement to pay a $4.9 billion penalty to resolve a long-running U.S. probe into its packaging and sale of mortgage-backed securities before the 2008 financial crisis.

Capital One Financial Corp. plans to repurchase shares following the sale of $17 billion in mortgages to a Credit Suisse subsidiary.

Despite the entrance of several large players over the past several years, financing to small-time landlords is still inefficient, executives say.