UPB

Fannie Mae Announces Winner of its Latest Non-Performing Loan Sale

Retrieved on: 
torsdag, maj 9, 2024
Sale, LP, OTCQB, Fannie Mae, FNMA, BPO, Minority, BofA Securities, UPB, Auction

WASHINGTON, May 9, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced the results of its twenty-fourth non-performing loan sale transaction.

Key Points: 
  • WASHINGTON, May 9, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced the results of its twenty-fourth non-performing loan sale transaction.
  • All purchasers are required to honor any approved or in-process loss mitigation efforts at the time of sale, including forbearance arrangements and loan modifications.
  • In addition, purchasers must offer delinquent borrowers a waterfall of loss mitigation options, including loan modifications, which may include principal forgiveness, prior to initiating foreclosure on any loan.
  • Fannie Mae will also post information about specific pools available for purchase on that page.

Granite Point Mortgage Trust Inc. Reports First Quarter 2024 Financial Results and Post Quarter-End Update

Retrieved on: 
tisdag, maj 7, 2024
Professional Services, Commercial Building & Real Estate, Finance, Construction & Property, REIT, Banking, Internet, Tenant, News, GPMT, CECL, Access, USPAP, Granite, GAAP, UPB, LTV, Bank

Granite Point Mortgage Trust Inc. (NYSE: GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter ending March 31, 2024, and provided an update on its activities subsequent to quarter-end.

Key Points: 
  • Granite Point Mortgage Trust Inc. (NYSE: GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter ending March 31, 2024, and provided an update on its activities subsequent to quarter-end.
  • A presentation containing first quarter 2024 financial results can be viewed at www.gpmtreit.com .
  • Book value per common share was $11.14 as of March 31, 2024, inclusive of $(4.17) per common share of total CECL reserve.
  • Granite Point Mortgage Trust Inc. will host a conference call on May 8, 2024, at 11:00 a.m.

MFA Financial, Inc. Announces First Quarter 2024 Financial Results

Retrieved on: 
måndag, maj 6, 2024
Professional Services, Finance, Internet, Loan, Transition, REO, SFR, Risk management, MFA, Eastern Time Zone, GAAP, UPB

MFA Financial, Inc. (NYSE:MFA) today provided its financial results for the first quarter ended March 31, 2024:

Key Points: 
  • MFA Financial, Inc. (NYSE:MFA) today provided its financial results for the first quarter ended March 31, 2024:
    MFA generated GAAP net income for the first quarter of $15.0 million, or $0.14 per basic and diluted common share.
  • MFA paid a regular cash dividend of $0.35 per common share on April 30, 2024.
  • MFA closed the quarter with unrestricted cash of $306.3 million.
  • MFA Financial, Inc. plans to host a live audio webcast of its investor conference call on Monday, May 6, 2024, at 11:00 a.m. (Eastern Time) to discuss its first quarter 2024 financial results.

Arbor Realty Trust Reports First Quarter 2024 Results and Declares Dividend of $0.43 per Share

Retrieved on: 
fredag, maj 3, 2024
CECL, UPB, Bank

UNIONDALE, N.Y., May 03, 2024 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (NYSE: ABR), today announced financial results for the first quarter ended March 31, 2024. Arbor reported net income for the quarter of $57.9 million, or $0.31 per diluted common share, compared to net income of $84.3 million, or $0.46 per diluted common share for the quarter ended March 31, 2023. Distributable earnings for the quarter was $96.7 million, or $0.47 per diluted common share, compared to $122.2 million, or $0.62 per diluted common share for the quarter ended March 31, 2023.

Key Points: 
  • During the first quarter of 2024, the Company recorded a $17.8 million provision for loan losses associated with CECL.
  • The average cost of borrowings for the first quarter of 2024 was 7.50%, compared to 7.48% for the fourth quarter of 2023.
  • The Company announced today that its Board of Directors has declared a quarterly cash dividend of $0.43 per share of common stock for the quarter ended March 31, 2024.
  • The dividend is payable on May 31, 2024 to common stockholders of record on May 17, 2024.

Great Ajax Corp. Announces Results for the Quarter Ended March 31, 2024

Retrieved on: 
fredag, maj 3, 2024
Professional Services, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, Asset Management, REIT, Appendix, Sale, Rate, Investment, AFS, HTM, REO, CECL, Operating cost, Acquisition, Trust, AOCI, GAAP, UPB, Bank

Our net interest income for the quarter ended March 31, 2024, excluding any adjustment for expected credit losses was $1.6 million, a decrease of $1.5 million over the prior quarter.

Key Points: 
  • Our net interest income for the quarter ended March 31, 2024, excluding any adjustment for expected credit losses was $1.6 million, a decrease of $1.5 million over the prior quarter.
  • Our interest expense for the quarter ended March 31, 2024 decreased $0.4 million compared to the prior quarter primarily as a result of a decrease in our average balance of interest bearing debt.
  • During the quarter ended March 31, 2024, we recorded a $3.1 million write-down on our beneficial interests.
  • We recorded $0.4 million in impairment on our REO held-for-sale portfolio in other expense for the quarter ended March 31, 2024.

Sierra Space Continues to Lead the Industry in the Development of the First Business-Ready Commercial Space Station

Retrieved on: 
torsdag, maj 2, 2024
Research, Technology, Other Defense, Engineering, Satellite, Aerospace, Manufacturing, Hardware, Science, Defense, ISS, CLD, LEO, International Space Station, Orbital, Commercial, Next Step, NASA, Sierra Nevada Corporation, Dream Chaser, Partnership, Orbit, Freedom, Collaboration, Multimedia, Blue Origin, UBP, Architecture, UPB

Sierra Space is the only space company that has advanced to full-scale structural testing of commercial space station technology.

Key Points: 
  • Sierra Space is the only space company that has advanced to full-scale structural testing of commercial space station technology.
  • The test article, currently in assembly, is equivalent to one third the volume of the entire International Space Station (ISS).
  • “Sierra Space’s expandable space station technology, based on the LIFE habitat product line, leverage a discriminating technology that has no equal.
  • Sierra Space is also continuing its LIFE10 development and testing campaign with two additional tests planned for 2024.

Rithm Capital Corp. Completes Acquisition of Computershare Mortgage Services Inc., Expanding Newrez LLC’s Servicing Portfolio and Subservicing Platform

Retrieved on: 
torsdag, maj 2, 2024
Professional Services, Residential Building & Real Estate, Finance, Construction & Property, Asset Management, REIT, Banking, Acquisition, RITM, SLS, History, UPB

Rithm Capital Corp. (NYSE: RITM; “Rithm Capital”) today completed its previously announced acquisition of Computershare Mortgage Services Inc. and certain affiliated companies, including Specialized Loan Servicing LLC (“SLS”).

Key Points: 
  • Rithm Capital Corp. (NYSE: RITM; “Rithm Capital”) today completed its previously announced acquisition of Computershare Mortgage Services Inc. and certain affiliated companies, including Specialized Loan Servicing LLC (“SLS”).
  • Immediately following the closing of the acquisition, SLS merged into Newrez LLC (“Newrez”).
  • “SLS will further expand our robust subservicing business and brings with it a great reputation in the market – the team and Newrez share a commitment to delivering a best-in-class experience to both clients and homeowners,” said Baron Silverstein, President of Newrez.
  • “The power of the combined platform will strengthen Newrez’s positioning in the market.”

PennyMac Mortgage Investment Trust Reports First Quarter 2024 Results

Retrieved on: 
onsdag, april 24, 2024
REIT, Finance, Banking, Professional Services, Construction & Property, PennyMac Financial Services, Corporation, Sale, Investment, Interest rate, Environment, PMT, CRT, Credit, UPB, Security (finance)

PennyMac Mortgage Investment Trust (NYSE: PMT) today reported net income attributable to common shareholders of $37.2 million, or $0.39 per common share on a diluted basis for the first quarter of 2024, on net investment income of $74.2 million.

Key Points: 
  • PennyMac Mortgage Investment Trust (NYSE: PMT) today reported net income attributable to common shareholders of $37.2 million, or $0.39 per common share on a diluted basis for the first quarter of 2024, on net investment income of $74.2 million.
  • PMT previously announced a cash dividend for the first quarter of 2024 of $0.40 per common share of beneficial interest, which was declared on March 21, 2024, and will be paid on April 26, 2024, to common shareholders of record as of April 12, 2024.
  • “We continue to leverage PMT’s synergistic relationship with its manager and services provider, PFSI, to actively manage PMT’s portfolio.
  • While many other mortgage REITs have been negatively impacted by increased levels of interest rate volatility, PMT’s book value per share has remained stable due to its diversified portfolio and disciplined approach to hedging.

Fannie Mae Announces Sale of Non-Performing Loans

Retrieved on: 
tisdag, april 9, 2024
CIP, BofA Securities, UPB, OTCQB, Organization, FNMA, Sale, Fannie Mae

WASHINGTON, April 9, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced its latest sale of non-performing loans as part of the company's ongoing effort to reduce the size of its retained mortgage portfolio, including the company's twenty-fourth Community Impact Pool (CIP). CIPs are typically smaller pools of loans that are geographically focused and marketed to encourage participation by non-profit organizations, minority- and women-owned businesses (MWOBs), and smaller investors.

Key Points: 
  • The one large pool includes approximately 1,205 deeply delinquent loans totaling $221.9 million in unpaid principal balance (UPB), and the CIP includes approximately 52 deeply delinquent loans totaling $14.5 million in UPB.
  • This sale of non-performing loans is being marketed in collaboration with BofA Securities, Inc. and First Financial Network, Inc., a woman-owned and -controlled business, as advisors.
  • Terms of Fannie Mae's non-performing loan transactions require the buyer of the non-performing loans to offer loss mitigation options designed to be sustainable for borrowers.
  • Fannie Mae will also post information about specific pools available for purchase on that page.

Fannie Mae Executes Two Credit Insurance Risk Transfer Transactions on $22.0 Billion of Single-Family Loans

Retrieved on: 
torsdag, april 4, 2024
Transfer, UPB, FNMA, News, Acquisition, Insurance, Disclosure, CIRT, Capital market, LTV, Fannie Mae

WASHINGTON, April 4, 2024 /PRNewswire/ -- Fannie Mae (FNMA/OTC) announced today that it has executed two new Credit Insurance Risk Transfer™ (CIRT™) transactions.

Key Points: 
  • WASHINGTON, April 4, 2024 /PRNewswire/ -- Fannie Mae (FNMA/OTC) announced today that it has executed two new Credit Insurance Risk Transfer™ (CIRT™) transactions.
  • Together, CIRT 2024-L2 and CIRT 2024-H1 transferred $709.0 million of mortgage credit risk to private insurers and reinsurers.
  • The loans included in both transactions are fixed-rate, generally 30-year term, fully amortizing mortgages and were underwritten using rigorous credit standards and enhanced risk controls.
  • For more information on specific CIRT transactions, including pricing , please visit our Credit Insurance Risk Transfer webpage .