Mortgage-backed security

Ellington Residential Mortgage REIT Announces Annual Shareholders Meeting and Record Date

Retrieved on: 
Thursday, March 14, 2019
Professional services, REIT, Finance, Construction & Property, Residential Building & Real Estate, Mortgage-backed security, Finance, Structured finance, Mortgage industry of the United States, Financial markets, Money, United States housing bubble, Real estate investment trust, Mortgage loan, Residential mortgage-backed security, Draft:Ellington Management Group, Arlington Asset Investment

Ellington Residential Mortgage REIT (NYSE:EARN) today announced that its 2019 Annual Meeting of Shareholders will be held virtually on Wednesday, May 15, 2019, at 10:00 AM Eastern Time.

Key Points: 
  • Ellington Residential Mortgage REIT (NYSE:EARN) today announced that its 2019 Annual Meeting of Shareholders will be held virtually on Wednesday, May 15, 2019, at 10:00 AM Eastern Time.
  • Stockholders of record as of the close of business on March 22, 2019 will be eligible to vote their shares and submit questions electronically during the virtual annual meeting.
  • Ellington Residential Mortgage REIT is a mortgage real estate investment trust that specializes in acquiring, investing in and managing residential mortgage- and real estate-related assets, with a primary focus on residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. Government agency or a U.S. government-sponsored enterprise.
  • Ellington Residential Mortgage REIT is externally managed and advised by Ellington Residential Mortgage Management LLC, an affiliate of Ellington Management Group, L.L.C.

KBRA Releases Report on CRE CLO’s Sizable Prepayment Activity

Retrieved on: 
Wednesday, March 13, 2019
Professional services, Banking, Finance, Finance, Structured finance, Financial markets, Money, Prepayment, Kroll Bond Rating Agency, Bond, Credit rating agency, Mortgage-backed security, Mortgage industry of the United States, Loans, Prepayment of loan

Kroll Bond Rating Agency (KBRA) has observed meaningful prepayment activity in 2017 and early 2018 vintage commercial real estate collateralized loan obligations (CRE CLOs).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) has observed meaningful prepayment activity in 2017 and early 2018 vintage commercial real estate collateralized loan obligations (CRE CLOs).
  • The prepayments led to increases in credit enhancement levels, which had a positive impact on rating activity.
  • As a result of the prepayment activity, we believe it would be helpful to shed light on some of the trends observed in the market.
  • Key observations from the report are as follows:
    Length of the initial loan term is a leading indicator of when prepayment may occur.

Medalist Diversified REIT Reports Fiscal Year 2018 Results

Retrieved on: 
Tuesday, March 12, 2019
Professional services, REIT, Banking, Finance, Construction & Property, Real estate investment trust, Mortgage loan, Finance, Mortgage-backed security, Money, Economy, United States housing bubble, Funds from operations, Mortgage industry of the United States

During 2018, the Company received $604,290 in funds from property capital reserves held by the Greensboro Hampton Inn mortgage holder and $64,944 from the Franklin Square Property mortgage holder.

Key Points: 
  • During 2018, the Company received $604,290 in funds from property capital reserves held by the Greensboro Hampton Inn mortgage holder and $64,944 from the Franklin Square Property mortgage holder.
  • Adjustment to FFO resulting from non-cash revenues recognized as a result of increase in fair value of interest rate cap.
  • Medalist Diversified REIT Inc. is a Virginia-based real estate investment trust that specializes in acquiring, owning and managing value-add commercial real estate in the Southeast region of the U.S.
  • We claim the safe harbor protection for forward looking statements contained in the Private Securities Litigation Reform Act of 1995.

Hunt Companies Finance Trust, Inc. Announces Investor Call for March 19, 2019

Retrieved on: 
Wednesday, March 13, 2019
United States housing bubble, Structured finance, Finance, Mortgage-backed security, Money, Mortgage industry of the United States, Economy, Mortgage, Real estate mortgage investment conduit, Commercial Mortgage Securities Association

Note: there is no passcode; please ask the operator to be joined into the Hunt Companies Finance Trust call.

Key Points: 
  • Note: there is no passcode; please ask the operator to be joined into the Hunt Companies Finance Trust call.
  • About Hunt Companies Finance Trust, Inc.
    Hunt Companies Finance Trust, Inc. is a Maryland corporation focused on investing in, financing and managing transitional multifamily and commercial real estate loans, securities backed by multifamily mortgage loans or multifamily mortgage-backed securities, mortgage servicing rights, and other mortgage related investments.
  • Hunt Companies Finance Trust, Inc. is externally managed and advised by Hunt Investment Management, LLC, a Delaware limited liability company.
  • View original content to download multimedia: http://www.prnewswire.com/news-releases/hunt-companies-finance-trust-inc...
    SOURCE Hunt Companies Finance Trust, Inc.

Navy Federal Credit Union Goes Live on Broadridge's MBS Expert SaaS Platform

Retrieved on: 
Wednesday, March 13, 2019
Structured finance, United States housing bubble, Mortgage-backed security, Mortgage industry of the United States, Subprime mortgage crisis, Finance, Mortgage, Economy of the United States

NEW YORK, March 13, 2019 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader and part of the S&P 500Index, today announced that Navy Federal Credit Union (Navy Federal), the largest retail credit union in the US with over $97 billion in assets, has successfully gone live on Broadridge's Mortgage-Backed Securities (MBS) Expert SaaS platform.

Key Points: 
  • NEW YORK, March 13, 2019 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader and part of the S&P 500Index, today announced that Navy Federal Credit Union (Navy Federal), the largest retail credit union in the US with over $97 billion in assets, has successfully gone live on Broadridge's Mortgage-Backed Securities (MBS) Expert SaaS platform.
  • Navy Federal is the first credit union that has been brought live on Broadridge's fixed income MBS Expert SaaS platform.MBS Expert is Broadridge's mortgage-backed securities processing solution that is engineered to give its users a competitive advantage in this multi-trillion dollar market.
  • Broadridge's MBS Expert SaaS platform is used by 30+ firms including the largest Fixed Income Clearing Corporation (FICC) clearing members and asset managers.
  • "MBS Expert was the right choice to support our expanding business needs, and we have transacted over $2 billion worth of MBS trading leveraging MBS Expert," said William Tabri, Manager of Capital Markets at Navy Federal Credit Union.

Morningstar Credit Ratings to Begin Rating CRE CLOs

Retrieved on: 
Tuesday, March 12, 2019
Financial markets, Finance, Money, Mortgage-backed security, Structured finance, Commercial mortgage-backed security, Nationally recognized statistical rating organization, Credit rating agencies, CRE, Mortgage industry of the United States, Morningstar, Inc.

NEW YORK, March12, 2019 /PRNewswire/ --Morningstar Credit Ratings, LLC today published an appendix to its U.S. CMBS Conduit/Fusion Ratings Methodology that outlines the process the company will apply when rating pools of transitional commercial real estate collateral, commonly known as commercial real estate collateralized loan obligations (CRE CLOs).

Key Points: 
  • NEW YORK, March12, 2019 /PRNewswire/ --Morningstar Credit Ratings, LLC today published an appendix to its U.S. CMBS Conduit/Fusion Ratings Methodology that outlines the process the company will apply when rating pools of transitional commercial real estate collateral, commonly known as commercial real estate collateralized loan obligations (CRE CLOs).
  • "We are very excited to begin rating CRE CLOs," said Kurt Pollem, managing director and head of CMBS at Morningstar Credit Ratings.
  • Morningstar will utilize its CRE Credit Model as the basis for calculating expected losses for a pool of transitional commercial real estate loans.
  • Morningstar Credit Ratings, LLC is a nationally recognized statistical rating organization (NRSRO) offering a wide array of services including new-issue ratings and analysis, operational risk assessments, surveillance services, data, and technology solutions.

Thetica Systems Launches Bond Pricing Platform for Top Accounting Firm

Retrieved on: 
Monday, March 11, 2019
Structured finance, Mortgage-backed security, Finance, Market economics), Microeconomics, Commercial mortgage-backed security, Pricing, United States housing bubble

The client now conducts its monthly pricing process for the full universe of ABS, CLO, RMBS, and CMBS bonds in only a few hours.

Key Points: 
  • The client now conducts its monthly pricing process for the full universe of ABS, CLO, RMBS, and CMBS bonds in only a few hours.
  • Users can then produce term sheets for each bond, modify scenario assumptions on demand, and perform ad hoc runs on specific bonds as needed.
  • "I was really impressed by the high quality standards of this accounting firm.
  • Thetica Systems' mission is to enable clients to focus on their own business rules, pricing models, and scenarios, by off-loading the challenging technology issues to an experienced vendor.

KBRA Assigns Preliminary Ratings to Avant Loans Funding Trust 2019-A

Retrieved on: 
Thursday, March 7, 2019
Professional services, Banking, Finance, United States housing bubble, Money, Economy, Debt, Securitization, Mortgage-backed security, Avant, Kroll Bond Rating Agency

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Avant Loans Funding Trust 2019-A (AVNT 2019-A).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by Avant Loans Funding Trust 2019-A (AVNT 2019-A).
  • This transaction represents Avant, LLCs (Avant, the Servicer or the Company) eighth rated securitization collateralized by a trust certificate backed by unsecured consumer loans originated through its online marketplace lending platform (Avant Platform).
  • Avant Loans Funding Trust 2019-A (AVNT 2019-A or the Issuer) will issue three classes of notes totaling $283.456 million (collectively, the Notes) with an expected closing date of March 20, 2019.
  • KBRA also conducted an operational assessment of the Avant Platform, as well as a review of the transactions legal structure and transaction documents.

KBRA Releases Monthly CMBS Trend Watch

Retrieved on: 
Thursday, March 7, 2019
Professional services, Finance, Insurance, Structured finance, Commercial mortgage-backed security, Mortgage-backed security

CMBS private label pricing volume increased in February to $6.6 billion, which is more than double the activity observed in January.

Key Points: 
  • CMBS private label pricing volume increased in February to $6.6 billion, which is more than double the activity observed in January.
  • However, 2019 year-to-date volume still lags 2018 at $9.3 billion, representing an 8.0% decrease year-over-year.
  • While hovering in the high teens over the past couple of years, it surpassed the 20% threshold in February.
  • KBRA analysts also attended the SFIG Las Vegas conference in late February.On a positive note, CMBS market participants we spoke with were generally constructive on credit, given relatively low in-trust leverage, healthy debt service coverage, and current credit enhancement.

KBRA Assigns Preliminary Ratings to Bancorp 2019-CRE5

Retrieved on: 
Thursday, March 7, 2019
Professional services, Banking, Finance, Construction & Property, Commercial Building & Real Estate, United States housing bubble, Finance, Economy, Money, Mortgage-backed security, Loans, Mortgage industry of the United States, Real estate mortgage investment conduit, Kroll Bond Rating Agency, KBRA, Collateralized loan obligation, Securitization

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to seven classes of Bancorp 2019-CRE5, a $518.3 million static commercial real estate collateralized loan obligation (CRE CLO) securitization.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to seven classes of Bancorp 2019-CRE5, a $518.3 million static commercial real estate collateralized loan obligation (CRE CLO) securitization.
  • The transaction is structured as a REMIC trust, and unlike to other CRE CLOs rated by KBRA, it does not permit any ramp-up or acquisition/reinvestment of assets post-closing.
  • 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.