Securitization

Freddie Mac on Thursday priced the first transaction to result from its pilot in the single-family rental market.

Securitization of nonperforming home equity conversion loans was pioneered by Nationstar; FAC's inaugural deal may be outstanding longer.

A $92 million portion of $194.4 million mortgage on a portfolio of 36 ExtraSpace Self Storage locations is the largest of 42 loans backed backing MSC 2017-HR2.

The U.S. is taking steps to stamp out the practice of servicemembers and veterans being pressured into taking mortgages they don't need, a move that officials say will lower consumer costs and could lead to financial penalties for lenders.

Roughly 52% of the properties backing Tricon American Homes 2017-SFR2 were obtained through the May acquisition; 19.4% were previously securitized by Silver Bay.

The deal, BXMT 2017-FL1 weighs in at $1 billion, making it more than twice as large as most CRE-CLOs issued this year; its size isn't the only unusual feature, however.

The Trepp CMBS delinquency rate is now 5.18%, a decrease of three basis points from the October level; declines were limited to the industrial, multifamily and office subindexes.

Testing of the common securitization platform is taking longer than expected, but the Federal Housing Finance Agency said it won't delay the 2019 launch of Fannie Mae and Freddie Mac's new single "uniform mortgage-backed security."

New Residential Investment Corp. is planning to purchase Shellpoint Partners in the first half of next year for $190 million with an additional earn-out over the next three years.

This time it’s the JW Marriott Phoenix Desert Ridge Resort & Spa, a 950-room, full-service resort. A $365 million first mortgage on the property from Morgan Stanley is being securitized via MSC 2017-JWDR.

The Show Me State passed legislation enabling residential and commercial PACE financing in 2010; however, Renovate America only started funding assessments through the Missouri Clean Energy District three months ago, in August 2017.

The senior tranche of Angel Oak 2017-3 benefits from 46.25% credit enhancement, up significantly from 37.75% for the sponsor’s July transaction, but in line with its April deal.

The impending bankruptcy of Walter Investment Management Corp. should not affect its subsidiary Ditech Financial's capability to service securitized mortgages, Fitch Ratings said.

That’s an about-face from the bank’s previous transaction, completed in October, which was backed by fixed-rate mortgages, nearly half of which were underwritten to standards for purchase by Fannie Mae or Freddie Mac.

The private equity firm obtained a $540 million loan on the JW Marriott Grande Lakes and the Ritz-Carlton Grande Lakes, which are situated on 500 acres at the headwaters of the Everglades, from Barclays and Wells Fargo.

The $785 million transaction, 2017-C41, is backed by a pool of 52 loans with an average balance of just $15.1 million, according to Kroll Bond Rating Agency; retail, hotel and office properties dominate the mix.

Impac Mortgage Holdings' nonqualified mortgage origination volume increased 248% year-over-year in the third quarter as the company accumulates loans for a planned securitization next year.

A mortgage on the marquee Caesars Palace Las Vegas is being used as collateral for $1.6 billion of mortgage bonds; proceeds will be used to repay existing indebtedness.

James Bennison, head of alternative capital markets at Arch Capital Group, says that a new insurance-linked security helps with regulatory capital requirements and provides information that can help the company to better manage risk.

A large portion of the collateral for both IH 2014-SFR2 and IH 2014-SFR3 is being rolled into a new securitization, IH 2017-SFR2.