Structured finance

Freddie Mac Announces Pricing of $543 Million Multifamily Small Balance Loan Securitization

Retrieved on: 
Thursday, October 17, 2019
Mortgage industry of the United States, Finance, Money, Economy, Mortgage-backed security, Loans, Affordable housing, Freddie Mac, Structured finance, Mortgage loan, Predatory mortgage servicing, Government-sponsored enterprise

Freddie Mac is also acting as mortgage loan seller and master servicer to the trust.

Key Points: 
  • Freddie Mac is also acting as mortgage loan seller and master servicer to the trust.
  • In addition to the six classes of securities guaranteed by Freddie Mac, the trust will issue certificates consisting of Class B and Class R Certificates, which will not be guaranteed by Freddie Mac and will be sold to private investors.
  • Freddie Mac has a specialty network of Optigo Seller/Servicers and Optigo SBL lenders with extensive experience in this market who source loans across the country.
  • Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.

Interpace Announces Closing of $13 Million Second Tranche Acquisition Financing from Ampersand Capital Partners

Retrieved on: 
Thursday, October 17, 2019
Structured finance, Tranche

This investment constitutes the second tranche of the overall $27 million Convertible Preferred Stock financing provided by Ampersand to Interpace in connection with the Companys July 15, 2019 acquisition of the BioPharma Business of Cancer Genetics, Inc. (CGIX).

Key Points: 
  • This investment constitutes the second tranche of the overall $27 million Convertible Preferred Stock financing provided by Ampersand to Interpace in connection with the Companys July 15, 2019 acquisition of the BioPharma Business of Cancer Genetics, Inc. (CGIX).
  • The condition surrounding the second tranche financing was approved by Interpace shareholders which was obtained at the Annual Shareholder Meeting on October 10, 2019.
  • Approximately $6millionof the second tranche financingis beingused to pay downanote due to Cancer Genetics, subject to related contractual adjustments, in connection with the acquisition.
  • We are excited to strengthen our partnership with Ampersand and to reinforce it through overwhelming support from our shareholders as we received approval for the second tranche financing, stated Jack Stover, President & CEO of Interpace.

Lucas Joins First Bank & Trust Company Mortgage Team

Retrieved on: 
Thursday, October 17, 2019
Finance, Loans, Mortgage loan, Money, Economy, Mortgage industry of the United States, Structured finance, United States housing bubble, Mortgage-backed security

ABINGDON, Va., Oct. 17, 2019 /PRNewswire/ -- First Bank & Trust Company, a diversified financial services firm today announced that Sandra Lucas has joined the mortgage team in Blacksburg, Virginia.

Key Points: 
  • ABINGDON, Va., Oct. 17, 2019 /PRNewswire/ -- First Bank & Trust Company, a diversified financial services firm today announced that Sandra Lucas has joined the mortgage team in Blacksburg, Virginia.
  • In her role at First Bank & Trust Company, Lucas will assist customers with the mortgage process by helping them understand the mortgage options offered by First Bank & Trust Company including low or no down payment, fixed rate or 100% financing options for construction and permanent loans, renovation loans, interim financing, home equity lines of credit and more.
  • Her office is located at First Bank & Trust Company - 2695 Price's Fork Road in Blacksburg, Virginia.
  • "Sandra is knowledgeable and experienced in the mortgage industry," stated Richard Buchanan, Senior Vice President and Mortgage Division Manager at First Bank & Trust Company.

KBRA Assigns Preliminary Ratings to BX Commercial Mortgage Trust 2019-ATL

Retrieved on: 
Wednesday, October 16, 2019
Banking, Professional services, Finance, Finance, Money, Economy, Credit rating agencies, Kroll Bond Rating Agency, Structured finance, Commercial mortgage-backed security, Loans, KBRA, Commercial mortgage, Mortgage loan

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to nine classes of BX Commercial Mortgage Trust 2019-ATL, a $243.7 million CMBS single-asset, single-borrower transaction.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to nine classes of BX Commercial Mortgage Trust 2019-ATL, a $243.7 million CMBS single-asset, single-borrower transaction.
  • We applied a capitalization rate of 10.75% and arrived at a KBRA value of $245.1 million and a KBRA Loan to Value (KLTV) of 99.4%.
  • 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.

Chimera Investment Corporation Announces Date of Third Quarter 2019 Financial Results and Conference Call

Retrieved on: 
Tuesday, October 15, 2019
Construction & Property, Professional services, REIT, Finance, Structured finance, Finance, Money, Real estate investment trust, Commercial mortgage-backed security, Australian real estate investment trust, RMBS, United States housing bubble

If you would like to be added to the e-mail distribution list, please visit www.chimerareit.com , click on Contact Us & Email Alerts, and complete the email notification form.

Key Points: 
  • If you would like to be added to the e-mail distribution list, please visit www.chimerareit.com , click on Contact Us & Email Alerts, and complete the email notification form.
  • We are a publicly traded REIT that is primarily engaged in the business of investing directly or indirectly through our subsidiaries, on a leveraged basis, in a diversified portfolio of real estate assets, including mortgage loans, Agency RMBS, Non-Agency RMBS, Agency CMBS, and other real estate assets.
  • Please visit www.chimerareit.com for additional information about the Company.
  • View source version on businesswire.com: https://www.businesswire.com/news/home/20191015005579/en/

KBRA Assigns Preliminary Ratings to OBX 2019-EXP3 Trust (OBX 2019-EXP3)

Retrieved on: 
Monday, October 14, 2019
Banking, Professional services, Finance, Finance, Money, Economy, Structured finance, Loans, Mortgage-backed security, United States housing bubble, Mortgage industry of the United States, Residential mortgage-backed security, Mortgage loan, Collateral

OBX 2019-EXP3 Trust is a residential mortgage-backed securities (RMBS) 2.0 transaction that includes a significant concentration of collateral that KBRA considers to be expanded prime.

Key Points: 
  • OBX 2019-EXP3 Trust is a residential mortgage-backed securities (RMBS) 2.0 transaction that includes a significant concentration of collateral that KBRA considers to be expanded prime.
  • The collateral pool contains a majority (56.1%) of non-qualified mortgages (non-QM) and a small remaining population of qualified mortgages (QM).
  • In addition, the pool contains loans secured by investor properties exempt from Ability-to-Repay (ATR) rules.
  • For complete details on the analysis, please see our pre-sale report, OBX 2019-EXP3 Trust , which was published on www.kbra.com .

Blackstone Mortgage Trust Announces Third Quarter 2019 Earnings Release and Conference Call

Retrieved on: 
Friday, October 11, 2019
Finance, Loans, Mortgage loan, United States housing bubble, Money, Economy, Mortgage-backed security, Mortgage industry of the United States, Structured finance

NEW YORK, Oct. 11, 2019 /PRNewswire/ -- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) today announced that it will publish its third quarter 2019 earnings presentation on its website at www.bxmt.com and file its Form 10-Q after market close on Wednesday, October 23, 2019.

Key Points: 
  • NEW YORK, Oct. 11, 2019 /PRNewswire/ -- Blackstone Mortgage Trust, Inc. (NYSE: BXMT) today announced that it will publish its third quarter 2019 earnings presentation on its website at www.bxmt.com and file its Form 10-Q after market close on Wednesday, October 23, 2019.
  • The company will also host a conference call to review results on Thursday, October 24, 2019 at 9:00 a.m.
  • Blackstone Mortgage Trust (NYSE: BXMT) is a real estate finance company that originates senior loans collateralized by commercial real estate in North America, Europe, and Australia.
  • The Company assumes no obligation to update or supplement forwardlooking statements that become untrue because of subsequent events or circumstances.

Medallion Resources Closes Private Placement Total of $794,874

Retrieved on: 
Friday, October 11, 2019
Chemical elements, Structured finance, Chemistry, Physical sciences, Monazite, Ree, Rare-earth element, Tranche, Unit, Mortgage-backed security

In aggregate this Offering, including both tranches, was for total gross proceeds of $794,874.

Key Points: 
  • In aggregate this Offering, including both tranches, was for total gross proceeds of $794,874.
  • Proceeds of the Offering will be used for process engineering and trade-off studies, business development and for general working capital.
  • Medallion has issued 2,197,657 units (each, a Unit) pursuant to the second tranche of the Offering at a price of $0.105 per Unit.
  • Medallion Resources is developing an approach for low-cost, near-term, rare-earth element (REE) production by exploiting monazite.

B&G Foods Announces Closing of $450.0 Million Term Loan B Facility

Retrieved on: 
Thursday, October 10, 2019
Retail, Supermarket, Food, Beverage, Money, Finance, Economy, Structured finance, United States housing bubble, Banking, Libor, Tranche

B&G Foods, Inc. (NYSE: BGS) announced today the closing of a $450.0 million tranche B term loan facility under its existing senior secured credit facility.

Key Points: 
  • B&G Foods, Inc. (NYSE: BGS) announced today the closing of a $450.0 million tranche B term loan facility under its existing senior secured credit facility.
  • As previously announced, the tranche B term loans will bear interest at a rate of LIBOR plus 2.50%, with a 0.0% LIBOR floor, and have a seven year maturity.
  • B&G Foods used the proceeds of the new term loans, together with the net proceeds of B&G Foods recently completed offering of $550.0 million of 5.25% senior notes due 2027, to redeem all $700.0 million of B&G Foods 4.625% senior notes due 2021, repay a portion of B&G Foods borrowings under its revolving credit facility and pay related fees and expenses.
  • B&G Foods expects to use the remaining proceeds for general corporate purposes.

Granite Point Mortgage Trust Inc. Announces Earnings Release and Conference Call for Third Quarter 2019 Financial Results

Retrieved on: 
Thursday, October 10, 2019
Construction & Property, REIT, Loans, Mortgage loan, Finance, Economy, Money, Structured finance, United States housing bubble, Subprime mortgage crisis, Mortgage industry of the United States, Draft:American Capital

Granite Point Mortgage Trust Inc. (NYSE: GPMT) today announced that it will release financial results for the quarter ended September 30, 2019 after market close on November 5, 2019.

Key Points: 
  • Granite Point Mortgage Trust Inc. (NYSE: GPMT) today announced that it will release financial results for the quarter ended September 30, 2019 after market close on November 5, 2019.
  • The company will host a conference call to review the financial results on November 6, 2019, at 10:00 a.m.
  • Granite Point Mortgage Trust Inc. is a Maryland corporation focused on directly originating, investing in and managing senior floating rate commercial mortgage loans and other debt and debt-like commercial real estate investments.
  • Granite Point is headquartered in New York, NY, and is externally managed by Pine River Capital Management L.P. Additional information is available at www.gpmortgagetrust.com.