Securitization

Fannie Mae's first-quarter profits were enough for it to rebuild its minimum capital buffer and pay the Treasury Department dividend after being forced to take a draw during the previous fiscal period.

A former Cantor Fitzgerald managing director was cleared of charges that he defrauded customers by lying about prices of mortgage-backed securities.

A federal jury is poised to determine whether a former Cantor Fitzgerald managing director's tactics in trading mortgage-backed securities constitute securities fraud.

After less than a week of trial, prosecutors rested their case against a former Cantor Fitzgerald trader accused of lying to his customers about bond prices.

A portfolio manager for an investment firm allegedly defrauded by a former Cantor Fitzgerald managing director said he might still work with a trader who lied to him — depending on the circumstances.

The Federal Housing Finance Agency's plan to combine Fannie Mae and Freddie Mac mortgages into a single security starting in June 2019 promises to bring both benefits and challenges to the mortgage sector.

A consortium including GPP and TIAA has obtained a $500 million mortgage on a 672,581- square-foot portion of the 2.7-million-square foot Ala Moana Center in Honolulu.

The trial of a former Cantor Fitzgerald mortgage-backed securities trader charged with lying to his clients turned contentious as his lawyer aggressively questioned one of his alleged victims about methods his firm uses to invest.

The $826.6 million transaction, GPMT 2018-1, represents about two-fifths of the $2.4 billion portfolio of the REIT, which was spun out of Two Harbors Investment last year.

Former Cantor Fitzgerald managing director David Demos is on trial, accused of deceiving clients about the prices his firm could sell or pay for mortgage-backed securities.

The real estate investment trust is issuing $450 million of five-year notes backed by rights to excess servicing strips of Fannie Mae loans.

The 860 loans backing its latest transaction, the $258.4 million Verus Securitization Trust, 2018-INV1, are all "business purpose investor loans,” according to S&P.

A large portion of the collateral for the $1.06 billion IH-2018-SFR1 is being rolled over from two transactions originally issued in 2015.

A class action filed last week alleges that Renovate America and Renew Financial failed to provide consumer protections promised to L.A. County, that this constitutes elder abuse, and the county is complicit.

HELOCs make up just 2.9% of the $281 million pool of collateral; 81.8% of the HELOC borrowers are currently ineligible to make draws; another 18.2% are permanently frozen.

The increase in the delinquency rate for securitized CRE loans for March ended an eight-month streak of declines.

The investigation targeted 36 residential mortgage-backed securities deals involving $31 billion worth of loans, more than half of which defaulted, according to the Justice Department.

Lenders should not get so desperate chasing volume by originating lower credit non-qualified mortgage products that they are inviting the next regulatory crackdown, said David Stevens, the Mortgage Bankers Association's CEO.

After several years of preparation, Fannie Mae and Freddie Mac will start issuing a new, common mortgage-backed security starting June 3, 2019, the Federal Housing Finance Agency said Wednesday.

The non-bank lender's $299.8 million prime, high-balance deal is no surprise; it follows a warehouse securitization last year. Angel Oak is also in the market with a $238.8 million deal.