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Acquisition will enhance origination and servicing platform capacity, says buyer
First time two Candide trades have been offered in one year since 2008
How securitization can help high LTV mortgage lending, and why is the CLO market so busy
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At a panel held at the American Enterprise Institute in Washington, DC on Thursday, the former director of the Federal Housing Finance Agency (FHFA) from 2009-2014 defended the duopoly of Fannie Mae and Freddie Mac, stating it was economically necessary for the agencies to buttress the mortgage market. -
The European Central Bank said this week it wants banks to provision for legacy non-performing loans in the same way as for new NPL inflows. But, in a major boost for Europe's weakest banks, it is prepared to give heavily burdened banks more time to raise provisions.
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Fannie Mae has announced a pilot programme that would see the government-sponsored enterprise wade deeper into the mortgage insurance business, a move that some critics warn could further distort American housing finance.
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Iccrea Banca, the banking group owned by Italian mutual banks, announced the completion of a €1bn NPL securitization transaction on Tuesday, pooling loans from multiple originators, with an application now pending for a state guarantee (GACS) for the senior tranche rated Baa3/BBB- by Moody’s and Scope Ratings, respectively.
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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.
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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.
