Latest news
Latest news
Meanwhile, BNP Paribas hires in structured finance
Aspire's first deal is a $391.28m non-prime securitization
Two lenders entering administration should signal to others: simplify the industry
More articles
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The rate of Spanish mortgages falling into arrears fell in the last quarter of 2013, according to Fitch, as the economy emerged from recession. But the rating agency expects house prices will only hit a trough in 2015, with arrears and non-performing loan ratios set to continue rising.
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Large institutional investors in single family rental properties are crowding out first-time home buyers who cannot compete with investors’ cash offerings, according to a letter and report signed last week by freshman Congressman Mark Takano (D-Calif.), who is requesting a hearing into the business.
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Securitization professionals should expect long-awaited clarity on Regulation AB II in February at an open meeting of the Securities and Exchange Commission, according to former SEC chair Chris Cox at an industry conference in Las Vegas.
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Private-equity backed firms like Nationstar Mortgage, Ocwen Financial Corp. and Walter Investment Management Corp. will continue to pick up banks’ mortgage servicing rights in 2014, but servicing costs and decreasing supply could slow the pace of future transfers.
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Rising home prices in select local markets have caused some to cry “bubble,” but panelists at Wednesday’s “Macroeconomic Overview of the Global Economy and Outlook for 2014” discussion at ABS Vegas largely panned the idea, saying the national recovery is still heading in the right direction.
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Recent improvements in Fannie Mae and Freddie Mac’s quarterly results could overstate their true financial state, and must not distract policymakers from vital housing finance reforms, said Michael Stegman, counselor to the secretary of the Treasury for housing finance policy, on Wednesday.
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New mortgage rules are forcing lenders to rethink the type of loans they can provide to borrowers and capital markets, but investors are asking a new question: is growing rental demand going to further upend the business for traditional mortgages?
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The regulatory pipeline for securitization this year may be just as busy as 2013, but residual risks could impact issuers and buyers in ways unexpected and overlooked, legal and policy analysts agree.
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Big private-equity backed lenders are filling a void left by banks, writing loans to small and middle market rental investors that would go into novel securitizations with features close to commercial mortgage-backed securities.