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Latest news
In March Lone Star closed its fourth residential mortgage fund at over $1bn
Bank’s relationship with SpringCash is ‘commercial’
Deal is the first seasoned performing and reperforming loan deal for Mill City Mortgage this year
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As demand for investments with good environmental, social and governance credentials rises, are non-performing loans the ultimate social asset class — or toxic waste that ESG investors should disdain?
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Wall Street is accelerating its expansion into the US rental housing market, taking advantage of the continuing trend away from homeownership, though securitization has yet to reap the full benefit. -
Värde Partners, Barclays and Guber Banca announced last Friday the acquisition of a €1.4bn book of non-performing loans (NPL) originated by 53 cooperative banks, rural banks and popolari banks in Italy.
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According to Wells Fargo, monthly CMO issuance in June dropped to $8.9bn, representing roughly a $11bn decline versus May. The decline has been broad based, with fixed-rate pass through agency CMOs declining to $800m versus $3bn in May.
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Real estate giant Starwood Property Trust, the largest commercial mortgage REIT in the US, is changing tack and pushing into a corner of residential mortgage space that has struggled to revive since the financial crisis.
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Clydesdale Bank priced its Lanark 2018–2 RMBS deal on Thursday in a busy spell for the European primary market, with the offering highlighting strong demand for short-dated dollar paper.
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Freddie Mac auctioned off a pool of residential mortgage insurance contracts from its ACIS shelf late on Monday, which will cover up to $300m of losses on $19.1bn of 15 and 20-year mortgages purchased by the agency between May 2017 and February 2018.
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Angel Oak announced on Monday that it had completed its largest RMBS deal to date, AOMT 2018-2, backed by 1,096 mortgages with an average loan size of $366,797. Deutsche Bank and Nomura were joint bookrunners on the deal.
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In its mid-year outlook on structured finance, JP Morgan analysts said that while valuations of MBS are attractive in an evolving macro context, evolving dynamics in mortgage bond supply and a rising CRE CLO market could create some degree of spread widening across the market.
