Mortgage-backed security

ARMOUR Residential REIT, Inc. Announces Guidance for July 2021 Dividend Rate Per Common Share

Retrieved on: 
Thursday, June 24, 2021

In order to maintain this tax status, ARMOUR is required to timely distribute substantially all of its ordinary REIT taxable income.

Key Points: 
  • In order to maintain this tax status, ARMOUR is required to timely distribute substantially all of its ordinary REIT taxable income.
  • Dividends paid in excess of current tax earnings and profits for the year will generally not be taxable to common stockholders.
  • ARMOUR invests exclusively in fixed rate residential, adjustable rate and hybrid adjustable rate residential mortgage-backed securities issued or guaranteed by U.S.
  • ARMOUR is externally managed and advised by ARMOUR Capital Management LP, an investment advisor registered with the Securities and Exchange Commission (SEC).

KBRA Assigns Preliminary Ratings to MSC 2021-L6

Retrieved on: 
Thursday, June 24, 2021

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 36 classes of MSC 2021-L6, an $765.3 million CMBS conduit transaction collateralized by 43 commercial mortgage loans secured by 60 properties.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 36 classes of MSC 2021-L6, an $765.3 million CMBS conduit transaction collateralized by 43 commercial mortgage loans secured by 60 properties.
  • The collateral properties are located throughout 27 MSAs, of which the three largest are New York (18.3%), Pittsburgh (12.3%), and Los Angeles (10.9%).
  • The pool has exposure to most major property types, with two types representing more than 15.0% of the pool balance: retail (30.0%) and office (23.3%).
  • KBRA capitalization rates were applied to each assets KNCF to derive values that were, on an aggregate basis, 42.4% less than third party appraisal values.

AGNC Investment Corp. Awarded the 2021 Nareit Gold Investor CARE Award

Retrieved on: 
Thursday, June 24, 2021

BETHESDA, Md., June 24, 2021 /PRNewswire/ --AGNC Investment Corp. (Nasdaq: AGNC) ("AGNC" or the "Company") announced today that it has received the 2021 Nareit Gold Investor CARE Award in the mortgage REIT category.

Key Points: 
  • BETHESDA, Md., June 24, 2021 /PRNewswire/ --AGNC Investment Corp. (Nasdaq: AGNC) ("AGNC" or the "Company") announced today that it has received the 2021 Nareit Gold Investor CARE Award in the mortgage REIT category.
  • "The 13th Annual Investor CARE Awards honor Nareit members that exemplify the traits of financial transparency and accessibility, hallmarks of the REIT industry," said Nareit President and CEO Steven A. Wechsler.
  • "The investor communications programs recognized by this year's awards embody these qualities, and we congratulate AGNC on its achievement."
  • AGNC Investment Corp. is an internally-managed real estate investment trust that invests primarily in residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S.

KBRA Assigns Preliminary Ratings to FirstKey Homes 2021-SFR1

Retrieved on: 
Wednesday, June 23, 2021

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to 12 classes of FirstKey Homes 2021-SFR1 (FKH 2021-SFR1) single-family rental pass-through certificates.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to 12 classes of FirstKey Homes 2021-SFR1 (FKH 2021-SFR1) single-family rental pass-through certificates.
  • FKH 2021-SFR1 is a single-family rental (SFR) securitization that will be collateralized by a single $2.1 billion fixed-rate loan secured by mortgages on 9,238 income-producing single-family homes.
  • FKH 2021-SFR1 is the third securitization issued by FirstKey Homes and the second largest securitization issued in the SFR sector to date.
  • To determine loss given default, KBRA assumed the underlying collateral properties would be liquidated in the residential property market.

Mobi724 Closes a $845,000 Private Placement & Accepts a Conditional Loan Offer of up to $2,300,000 from the Government of Quebec via Investissement Quebec

Retrieved on: 
Wednesday, June 23, 2021

Each Unit is comprised of one common share of the Company (a "Common Share") and a three-quarters Common Share purchase warrant of the Company (a "Warrant").

Key Points: 
  • Each Unit is comprised of one common share of the Company (a "Common Share") and a three-quarters Common Share purchase warrant of the Company (a "Warrant").
  • The proceeds from the sale of Units will be added to working capital in furtherance of the Company's business.
  • The two subsequent tranches are to be disbursed by December 31, 2021 subject to compliance with the conditions set out in the Loan Offer.
  • This news release does not constitute a solicitation to buy or sell any securities in the United States.

Eliav Dan Joins Commercial Lending Group at Greystone

Retrieved on: 
Monday, June 21, 2021

NEW YORK, June 21, 2021 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, announced that Eliav Dan has joined Greystones Commercial team as a Senior Managing Director, based in Los Angeles.

Key Points: 
  • NEW YORK, June 21, 2021 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, announced that Eliav Dan has joined Greystones Commercial team as a Senior Managing Director, based in Los Angeles.
  • In this role, Mr. Dan will focus on structured large loan originations, CMBS, balance sheet lending, and Greystone Agency and FHA programs.
  • Mr. Dan joins Greystone from Barclays, where he served as West Coast Head, leading both Los Angeles- and New York-based origination teams, and oversaw large loan, CMBS, and balance sheet originations for the West Coast territory.
  • Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates.

MAXEX Secures Strategic Investment from J.P. Morgan

Retrieved on: 
Tuesday, June 22, 2021

MAXEX, the first digital mortgage exchange to enable the trading of residential loans through a single clearinghouse, announced it secured a strategic investment from J.P. Morgan (NYSE: JPM), with participation from existing MAXEX investors AGNC Ventures and Moore Asset Backed Fund, LP.

Key Points: 
  • MAXEX, the first digital mortgage exchange to enable the trading of residential loans through a single clearinghouse, announced it secured a strategic investment from J.P. Morgan (NYSE: JPM), with participation from existing MAXEX investors AGNC Ventures and Moore Asset Backed Fund, LP.
  • The investment is intended to accelerate broad market adoption of the MAXEX exchange platform for buying and selling loans in the U.S. non-agency mortgage market.
  • The strategic investment by J.P. Morgan follows a year of record growth for MAXEX.
  • Were excited to make a strategic investment in MAXEX as they bring standardization to an otherwise fragmented sector of the residential mortgage market, said Marc Simpson Managing Director, Head of Non-Agency Whole Loan and RMBS Trading, J.P. Morgan.

KBRA Assigns Preliminary Ratings to BBCMS 2021-C10

Retrieved on: 
Monday, June 21, 2021

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 19 classes of BBCMS 2021-C10, a $846.8 million CMBS conduit transaction with 64 loans secured by 127 properties.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 19 classes of BBCMS 2021-C10, a $846.8 million CMBS conduit transaction with 64 loans secured by 127 properties.
  • The collateral properties are located across 33 MSAs, the largest three of which are Philadelphia (14.1%), New York (11.4%), and Las Vegas (11.2%).
  • KBRA capitalization rates were applied to each assets KNCF to derive values that were, on an aggregate basis, 44.1% less than third party appraisal values.
  • To access ratings and relevant documents, click here .

Generation X Turning to Annuities at Higher Rates in Search of Protection as Private Sector Pensions Disappear

Retrieved on: 
Monday, June 21, 2021

The inaugural study finds investors eager for financial protection amid a challenging fixed-income environment and the declining prevalence of private sector pensions.

Key Points: 
  • The inaugural study finds investors eager for financial protection amid a challenging fixed-income environment and the declining prevalence of private sector pensions.
  • Most notably, an overwhelming majority, 71%, of all younger investors have some interest in purchasing annuities as part of their overall retirement income plan.
  • "Unfortunately, there's still a large gap between what investors say is important to them and what financial professionals think is important.
  • The majority of investors, 55 percent, say protecting income is very important to them, compared to just 39 percent of financial professionals.

Biophytis announces new convertible bond financing for up to €32 million with Atlas and drawing of 2 tranches under the 2020 Atlas Contract for €6 million

Retrieved on: 
Saturday, June 19, 2021

The Company also announces the issuance of 240 ORNANE Bonds, for a total amount of 6 million under its existing convertible bond agreement with Atlas (the 2020 Atlas Contract).

Key Points: 
  • The Company also announces the issuance of 240 ORNANE Bonds, for a total amount of 6 million under its existing convertible bond agreement with Atlas (the 2020 Atlas Contract).
  • Subject to the issue of the eighth and last tranche under the 2020 Atlas Contract, the 32 million total financing can be drawn by Biophytis over the next three years, without obligation, through 8 successive tranches of 4 million each.
  • The 24 million total financing can be drawn by Biophytis over the next 3 years, without obligation, through 8 successive tranches of 3 million each.
  • After the drawing of the 4th and 5th tranches for a total of 6 million, 9 million will remain from the current instrument.