Mortgage-backed security

KBRA Assigns Preliminary Ratings to CoreVest American Finance 2019-2

Retrieved on: 
Monday, July 1, 2019
Consulting, Banking, Professional services, Other Professional Services, Finance, Money, Financial markets, United States housing bubble, Kroll Bond Rating Agency, Securitization, Credit rating agency, Structured finance, Mortgage-backed security, Kabbage

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to nine classes of certificates issued in the CoreVest American Finance 2019-2 (CAF 2019-2) securitization.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to nine classes of certificates issued in the CoreVest American Finance 2019-2 (CAF 2019-2) securitization.
  • This transaction will be the thirteenth multi-borrower, single-family rental (SFR) securitization issued in the U.S. to date and the ninth issued by CoreVest American Finance (formerly Colony American Finance).
  • Information received subsequent to this release could result in the assignment of final ratings that differ from the preliminary ratings.
  • For further details on KBRAs analysis, please see our pre-sale report, entitled CoreVest American Finance 2019-2 Pre-Sale Report , which is published at www.kbra.com .

DebtX: CMBS Loan Prices Rose in May

Retrieved on: 
Monday, July 1, 2019
Professional services, Commercial Building & Real Estate, Construction & Property, Finance, Banking, Finance, Money, Financial markets, Structured finance, Mortgage-backed security, Commercial mortgage-backed security, Commercial mortgage, Public–Private Investment Program for Legacy Assets

DebtX , the largest marketplace for loans, said today that prices of commercial real estate loans underlying CMBS increased in May.

Key Points: 
  • DebtX , the largest marketplace for loans, said today that prices of commercial real estate loans underlying CMBS increased in May.
  • As of the end of May, DebtX priced $1.4 trillion in commercial real estate loans that collateralize U.S. CMBS trusts.
  • DebtX provides third-party loan valuation services for both public and private clients, as well as analytics and data based on nearly two decades of secondary market loan sales at DebtX.
  • Through its loan sale advisory , DebtX maximizes loan sale proceeds for financial institutions and government agencies.

Fannie Mae Releases May 2019 Monthly Summary

Retrieved on: 
Friday, June 28, 2019
Mortgage industry of the United States, Finance, Economy of the United States, Economy, Fannie Mae, Mortgage-backed security, Mortgage loan, Bibliography of Fannie Mae and Freddie Mac, Freddie Mac

WASHINGTON, June 28, 2019 /PRNewswire/ -- Fannie Mae's (OTCQB: FNMA) May 2019 Monthly Summary is now available.

Key Points: 
  • WASHINGTON, June 28, 2019 /PRNewswire/ -- Fannie Mae's (OTCQB: FNMA) May 2019 Monthly Summary is now available.
  • The monthly summary report contains information about Fannie Mae's monthly and year-to-date activities for our gross mortgage portfolio, mortgage-backed securities and other guarantees, interest rate risk measures, serious delinquency rates, and loan modifications.
  • Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans.
  • We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk.

Best’s Special Report: Are Life/Annuity Insurers Prepared to Weather Another Economic Downturn?

Retrieved on: 
Wednesday, June 26, 2019
Professional services, Insurance, Finance, Economy, Money, Finance, Financial crises, Insurance industry, Mortgage-backed security, Subprime mortgage crisis, Insurance, Life annuity

Still, many of AM Bests concerns in the run-up to the financial crisis exist today, and a new special report looks at how prepared L/A insurers are in the event of a new economic downturn.

Key Points: 
  • Still, many of AM Bests concerns in the run-up to the financial crisis exist today, and a new special report looks at how prepared L/A insurers are in the event of a new economic downturn.
  • The new Bests Special Report, titled, Are Life/Annuity Insurers Prepared to Weather Another Economic Downturn?
  • Macroeconomic conditions in the United States soon became more unfavorable as the effects of the subprime crisis started to emerge.
  • Available capital also has grown steadily since the financial crisis; however, as economic conditions change, so may risk charges.

PennyMac Mortgage Investment Trust Declares Second Quarter 2019 Dividend for Its Common Shares

Retrieved on: 
Wednesday, June 26, 2019
Finance, REIT, Professional services, Construction & Property, Finance, Loans, Mortgage loan, Real estate investment trust, Money, Dividend, Economy, Mortgage-backed security, PennyMac Loan Services, United States housing bubble, Mortgage industry of the United States

PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that its Board of Trustees declared a cash dividend of $0.47 per common share of beneficial interest for the second quarter of 2019.

Key Points: 
  • PennyMac Mortgage Investment Trust (NYSE: PMT) announced today that its Board of Trustees declared a cash dividend of $0.47 per common share of beneficial interest for the second quarter of 2019.
  • This dividend will be paid on July 30, 2019, to common shareholders of record as of July 15, 2019.
  • PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets.
  • Additional information about PennyMac Mortgage Investment Trust is available at www.PennyMac-REIT.com .

KBRA Assigns Preliminary Ratings to FWD Securitization Trust 2019-INV1 (FWD 2019-INV1)

Retrieved on: 
Tuesday, June 25, 2019
Finance, Banking, Professional services, Insurance, Finance, Money, Structured finance, Financial markets, United States housing bubble, Mortgage industry of the United States, Mortgage-backed security, Securitization, Residential mortgage-backed security, Kroll Bond Rating Agency, Mortgage loan, RMBS

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to six classes of mortgage pass-through certificates from FWD Securitization Trust 2019-INV1 (FWD 2019-INV1), a $264.5 million residential mortgage-backed securities (RMBS) transaction collateralized by agency eligible and non-agency loans on investment properties.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to six classes of mortgage pass-through certificates from FWD Securitization Trust 2019-INV1 (FWD 2019-INV1), a $264.5 million residential mortgage-backed securities (RMBS) transaction collateralized by agency eligible and non-agency loans on investment properties.
  • FWD 2019-INV1 is the first forward-mortgage RMBS 2.0 transaction issued by the Sponsor, Blackstone Residential Operating Partnership LP.
  • The underlying pool consists of 1,724 fixed-rate mortgages (FRMs) with an aggregate principal balance of $264.5 million as of the May 31, 2019 cut-off date.
  • The underlying FWD 2019-INV1 collateral consists of fixed rate, fully amortizing mortgages most of which have 30-year terms (98.0%).

The Structured Finance Association Announces Communications Program to Promote Understanding of Securitization in Lending and the Economy

Retrieved on: 
Thursday, June 20, 2019
United States housing bubble, Finance, Money, Structured finance, Debt, Securitization, Economy, Credit rating agency, Mortgage-backed security, Mortgage industry of the United States, Asset-backed security, Collateralized fund obligation

Coinciding with the name change, the association has launched a content-deep website supported by an advertising campaign to promote the positive impact securitization has on people's lives and the economy.

Key Points: 
  • Coinciding with the name change, the association has launched a content-deep website supported by an advertising campaign to promote the positive impact securitization has on people's lives and the economy.
  • The 360+ members of the Structured Finance Association represent the diverse industries that participate in securitizing loans, including banks of all sizes, broker-dealers, investors, mortgage insurers, rating agencies and accounting firms.
  • Our goal is to help securitization finance real economic growth and to do so without putting the economy at risk.
  • At the core of the Structured Finance Association website is educational information about how securitization works, and the value and values of the industry.

KBRA Assigns Preliminary Ratings to J.P. Morgan Mortgage Trust 2019-4 (JPMMT 2019-4)

Retrieved on: 
Wednesday, June 19, 2019
Finance, Banking, Professional services, Insurance, Finance, Money, Economy, Mortgage industry of the United States, Kroll Bond Rating Agency, Mortgage loan, Subprime lending, Jumbo mortgage, Mortgage-backed security

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to 28 classes of mortgage pass-through certificates from J.P. Morgan Mortgage Trust 2019-4 (JPMMT 2019-4).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to 28 classes of mortgage pass-through certificates from J.P. Morgan Mortgage Trust 2019-4 (JPMMT 2019-4).
  • J.P. Morgan Mortgage Trust 2019-4 (JPMMT 2019-4) is a prime RMBS transaction comprising 477 residential mortgages with an aggregate principal balance of $322.2 million as of the June 1, 2019 cut-off date.
  • The underlying collateral includes both prime jumbo loans (88.4%) and high-balance conforming mortgages (11.6%), all of which have been designated as Qualified Mortgages (QM).
  • This analysis is further described in our U.S. RMBS Rating Methodology.

KBRA Assigns Preliminary Ratings to WFCM 2019-C51

Retrieved on: 
Monday, June 17, 2019
Professional services, Banking, Finance, Finance, Money, Economy, Structured finance, Mortgage-backed security, Kroll Bond Rating Agency, Commercial mortgage-backed security, Loans, Mortgage, Credit rating agency, Commercial mortgage, Mortgage loan

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 15 classes of WFCM 2019-C51 (see ratings list below), a $729.5 million CMBS conduit transaction collateralized by 53 commercial mortgage loans secured by 105 properties.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 15 classes of WFCM 2019-C51 (see ratings list below), a $729.5 million CMBS conduit transaction collateralized by 53 commercial mortgage loans secured by 105 properties.
  • The pool has exposure to most of the property types, with the top three being office (38.5%), retail (27.5%), and mixed-use (10.6%).
  • The preliminary ratings are based on information known to KBRA at the time of this publication.
  • Information received subsequent to this release could result in the assignment of ratings that differ from the preliminary ratings.

KBRA Releases Monthly Auto Loan Indices for May

Retrieved on: 
Friday, June 14, 2019
Professional services, Insurance, United States housing bubble, Debt, Securitization, Finance, Economy, Kroll Bond Rating Agency, Money, Structured finance, Mortgage-backed security

Kroll Bond Rating Agency (KBRA) releases its Auto Loan Indices for the month of May and reports on delinquency roll rates from asset-level disclosures.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases its Auto Loan Indices for the month of May and reports on delinquency roll rates from asset-level disclosures.
  • Servicer reports in May showed credit performance continued to improve across securitized prime and non-prime auto loan collateral pools during the April collection period.
  • Both indices may have benefited from the waning effects of tax filing season, as many late filers received their refunds in late April.
  • Although our indices showed improved month-over-month metrics, asset-level disclosures told a different story.