Mortgage-backed security

Homeownership feels further out of reach than at pandemic peak, Scotiabank Housing Poll

Retrieved on: 
Monday, April 4, 2022

TORONTO, April 4, 2022 /CNW/ - Canadians are less likely to purchase a home now than they were at the height of the pandemic, according to the latest Scotiabank Housing Poll.

Key Points: 
  • TORONTO, April 4, 2022 /CNW/ - Canadians are less likely to purchase a home now than they were at the height of the pandemic, according to the latest Scotiabank Housing Poll.
  • Concerns over costs of living, rising interest rates, market instability, and economic uncertainty has most millennials feeling discouraged about their homeownership aspirations.
  • More than half of millennials (56%) say the current economic environment has negatively impacted their finances putting their homebuying plans on ice.
  • This is most common amongst younger Canadians, of which half (49%) are considering moving out of their city to get more 'house' for their money.

First Trust Mortgage Income Fund Declares its Monthly Common Share Distribution of $0.055 Per Share for April

Retrieved on: 
Monday, March 21, 2022

First Trust Mortgage Income Fund (the "Fund") (NYSE: FMY) has declared the Funds regularly scheduled monthly common share distribution in the amount of $0.055 per share payable on April 18, 2022, to shareholders of record as of April 4, 2022.

Key Points: 
  • First Trust Mortgage Income Fund (the "Fund") (NYSE: FMY) has declared the Funds regularly scheduled monthly common share distribution in the amount of $0.055 per share payable on April 18, 2022, to shareholders of record as of April 4, 2022.
  • The Fund is a diversified, closed-end management investment company that seeks to provide a high level of current income.
  • First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor.
  • FTA and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services.

Urstadt Biddle Properties Inc. Announces Completion of $35 million Mortgage Loan Financing For The Dock Shopping Center in Stratford, CT

Retrieved on: 
Thursday, February 3, 2022

Urstadt Biddle Properties Inc. (the Company) (NYSE: UBA and UBP) announced today that two wholly-owned subsidiaries of the Company have completed the mortgage refinancing of one of the Companys retail properties, The Dock Shopping Center in Stratford, Connecticut.

Key Points: 
  • Urstadt Biddle Properties Inc. (the Company) (NYSE: UBA and UBP) announced today that two wholly-owned subsidiaries of the Company have completed the mortgage refinancing of one of the Companys retail properties, The Dock Shopping Center in Stratford, Connecticut.
  • The lender and counterparty to the swap is The Bank of New York Mellon and there was no intermediary involved.
  • The Dock is a tremendous shopping center that is 99% leased, which has come through the pandemic in good shape.
  • Urstadt Biddle Properties Inc. is a self-administered equity real estate investment trust which owns or has equity interests in 78 properties containing approximately 5.3 million square feet of space.

Fannie Mae Priced $1 Billion Multifamily DUS REMIC (FNA 2022-M1) Under Its GeMS Program

Retrieved on: 
Monday, January 24, 2022

WASHINGTON, Jan. 24, 2022 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) priced a $1 billion Multifamily DUS REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on January 19, 2022.

Key Points: 
  • WASHINGTON, Jan. 24, 2022 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) priced a $1 billion Multifamily DUS REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on January 19, 2022.
  • FNA 2022-M1 marks the first Fannie Mae GeMS issuance of 2022.
  • All classes of FNA 2022-M1 are guaranteed by Fannie Mae with respect to the full and timely payment of interest and principal.
  • The structure details for the multi-tranche offering can be found in the table below:

Securent, a SitusAMC Insurance Services Branch, Launches Comprehensive Risk Management and Insurance Programs to Reshape Mortgage Risk Retention

Retrieved on: 
Tuesday, November 16, 2021

Securent's suite of offerings include loan defect insurance and mortgage application fraud insurance with expansion to cover residential MBS (RMBS) loan defect insurance, and mortgage servicing rights (MSR) loan defect insurance in the near future.

Key Points: 
  • Securent's suite of offerings include loan defect insurance and mortgage application fraud insurance with expansion to cover residential MBS (RMBS) loan defect insurance, and mortgage servicing rights (MSR) loan defect insurance in the near future.
  • Securent's innovative insurance offering leverages SitusAMC's proven experience in loan due diligence and cutting-edge technology to provide more timely and accurate reviews that supports the insurance process.
  • "As profit margins tighten, mortgage market participants are more aware than ever of potential losses associated with mortgage manufacturing defects," said SitusAMC Justin Vedder, President of Securent and mortgage market veteran.
  • Securent utilizes a proprietary risk management model along with industry leading QC technology to assess,identify,and pricethe manufacturing riskon anymortgage asset.

PGIM Fixed Income announces senior appointments

Retrieved on: 
Tuesday, September 14, 2021

PGIM Fixed Income, part of PGIM, the $1.5 trillion global investment management business of Prudential Financial, Inc. ( NYSE: PRU ), is making the following senior appointments effective Jan. 1, 2022:

Key Points: 
  • PGIM Fixed Income, part of PGIM, the $1.5 trillion global investment management business of Prudential Financial, Inc. ( NYSE: PRU ), is making the following senior appointments effective Jan. 1, 2022:
    This press release features multimedia.
  • Vibert joined PGIM Fixed Income in 2014 as the head of Securitized Products and serves in that role currently.
  • Dewling and Peters will take over CIO duties from Michael Lillard, head of PGIM Fixed Income and CIO.
  • PGIM Fixed Income, with $954 billion in assets under management as of June 30, 2021, is a global asset manager offering active solutions across all fixed income markets.

BNP Paribas Adopts Bloomberg Core Mortgage Premium Solution

Retrieved on: 
Wednesday, September 8, 2021

NEW YORK, Sept. 8, 2021 /PRNewswire/ --Bloomberg today announced that BNP Paribas has adopted the Bloomberg Agency Model (BAM) for their mortgage trading business through Bloomberg's Core Mortgage Premium (CMP) solution.

Key Points: 
  • NEW YORK, Sept. 8, 2021 /PRNewswire/ --Bloomberg today announced that BNP Paribas has adopted the Bloomberg Agency Model (BAM) for their mortgage trading business through Bloomberg's Core Mortgage Premium (CMP) solution.
  • CMP provides daily overnight analytics of Mortgage Backed Securities (MBS) such as Specified Pools (Specs), Collateral Mortgage Obligations (CMO), and To Be Announced securities (TBA).
  • These tools give users full control over input assumptions and predictive model parameters, providing a consistent set of analytics with mortgage functionality on the Bloomberg Terminal and other Bloomberg solutions, such as the Bloomberg Indices and MARS.
  • Russel Parentela, Global Head of Cash Structured Products at Bloomberg, said: "We are pleased Bloomberg is able to support BNP Paribas' mortgage strategy through their adoption of CMP solution and BAM model.

New CFO Starts at Chimera

Retrieved on: 
Monday, August 2, 2021

Chimera Investment Corporation, Inc. (NYSE:CIM) (the Company) announced today that Subramaniam (Subra) Viswanathan has joined the Company as the Chief Financial Officer effective July 31, 2021.

Key Points: 
  • Chimera Investment Corporation, Inc. (NYSE:CIM) (the Company) announced today that Subramaniam (Subra) Viswanathan has joined the Company as the Chief Financial Officer effective July 31, 2021.
  • Mr. Viswanathan previously served as the Senior Vice President, Business Area Controller Cash and Synthetic CDOs, Securitization and Correlation Desks at Citigroup, Corporate and Investment Banking.
  • Mr. Viswanathan earned his degree in economics from the University of Madras in Chennai, India and his MBA from University of Hartford.
  • We are very excited to have Subra join our team, said Mohit Marria, the Companys Chief Executive Officer and Chief Investment Officer.

KBRA Releases Research – CMBS Loan Performance Trends: July 2021

Retrieved on: 
Friday, July 30, 2021

Kroll Bond Rating Agency (KBRA) releases a report on U.S. commercial mortgage-backed securities (CMBS) loan performance trends observed in the July 2021 servicer reporting period.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report on U.S. commercial mortgage-backed securities (CMBS) loan performance trends observed in the July 2021 servicer reporting period.
  • This month, KBRA also analyzed the special servicing and modification activity of CMBS 2.0 loans outstanding at the start of the pandemic.
  • From April 2020 to June 2021, 1,383 (7.1%) loans transferred to special servicing, totaling $49.5 billion (11.1%).
  • Of these, 28.6% by loan count and 34.6% by balance have transferred back to the master servicer.

Mortgage Servicers Score Points with Customers during Pandemic but Threats Loom for Banks, J.D. Power Finds

Retrieved on: 
Thursday, July 29, 2021

Bank-affiliated servicers, which have historically outperformed non-banks by a large margin, gain just four points in satisfaction this year.

Key Points: 
  • Bank-affiliated servicers, which have historically outperformed non-banks by a large margin, gain just four points in satisfaction this year.
  • Overall satisfaction among at-risk customers increases 15 points year over year, while satisfaction scores among low-risk customers declines one point.
  • Satisfaction scores among customers who also use their servicers bank products are 55 points higher than among those who have mortgage-only relationships.
  • Rocket Mortgage (which includes Quicken Loans) is the highest-ranked mortgage servicer for an eighth consecutive year, with a score of 860.