Mortgage

IUSA Announces Offer to Exchange Its Series A And Series B 9% Senior Secured Notes Due 2023 For Series A And Series B 9% Senior Secured Variable Coupon Notes Due 2027

Retrieved on: 
Friday, November 22, 2019

The PIK Payment will be made to tendering holders of Old Notes in lieu of the cash payment of such accrued interest.

Key Points: 
  • The PIK Payment will be made to tendering holders of Old Notes in lieu of the cash payment of such accrued interest.
  • The principal objective of the Exchange Offer is to refinance the Old Notes and avoid a potential concurso mercantil proceeding in Mexico.
  • The Company reserves the right, subject to applicable law, to extend, withdraw or terminate the Exchange Offer, or otherwise amend the terms of the Exchange Offer.
  • If any tendered Old Notes are not accepted for exchange, such Old Notes will be returned without expense to the tendering holder.

GSF Mortgage Corporation Launches SingleClosing.com

Retrieved on: 
Thursday, November 21, 2019

MILWAUKEE, Nov. 21, 2019 /PRNewswire-PRWeb/ -- GSF Mortgage Corporation (GSF) announces an all new website for potential partners to learn about the benefits of Single Close Construction Loans.

Key Points: 
  • MILWAUKEE, Nov. 21, 2019 /PRNewswire-PRWeb/ -- GSF Mortgage Corporation (GSF) announces an all new website for potential partners to learn about the benefits of Single Close Construction Loans.
  • "The new website will educate potential partners on our diverse portfolio, allowing them to finance new construction to a greater pool of buyers," said Robert Stephens, Senior Vice President of Construction Sales for GSF Mortgage Corporation.
  • GSF Mortgage Corporation is an established and experienced direct mortgage lender 25 years of lending experience.
  • We continue to serve the next generation of homeowners by designing and maintaining a solution based and efficient Mortgage process.

Mortgage Rates Rescind

Retrieved on: 
Thursday, November 21, 2019

MCLEAN, Va., Nov. 21, 2019 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.66 percent.

Key Points: 
  • MCLEAN, Va., Nov. 21, 2019 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.66 percent.
  • The housing market continues to steadily gain momentum with rising homebuyer demand and increased construction due to the strong job market, ebullient market sentiment and low mortgage rates, said Sam Khater, Freddie Macs Chief Economist.
  • 15-year fixed-rate mortgage averaged 3.15 percent with an average 0.5 point, down from last week when it averaged 3.20 percent.
  • Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

GOGL – Third Quarter 2019 Results

Retrieved on: 
Thursday, November 21, 2019

Golden Ocean Group Limited (NASDAQ: GOGL / OSE: GOGL) (the Company or Golden Ocean), a leading dry bulk shipping company, today announced its results for the quarter ended September 30, 2019.

Key Points: 
  • Golden Ocean Group Limited (NASDAQ: GOGL / OSE: GOGL) (the Company or Golden Ocean), a leading dry bulk shipping company, today announced its results for the quarter ended September 30, 2019.
  • While the market has eased as the fourth quarter has progressed, rates are still well above our highly competitive cash break-even levels, and we are pleased with our results thus far.
  • The loan has a five year tenor with a 20-years age adjusted profile and eliminates our refinancing needs until 2021.
  • Combined with a total financing of approximately $45 million of our scrubber investment this gives the Company a high degree of financial flexibility for the coming year.

Fannie Mae Announces 2020 Connecticut Avenue Securities Issuance Calendar

Retrieved on: 
Tuesday, November 19, 2019

WASHINGTON, Nov. 19, 2019 /PRNewswire/ --Fannie Mae (OTCQB: FNMA) announced today its 2020 Connecticut Avenue Securities (CAS) Issuance Calendar as part of continued efforts to ensure transparency in the market.

Key Points: 
  • WASHINGTON, Nov. 19, 2019 /PRNewswire/ --Fannie Mae (OTCQB: FNMA) announced today its 2020 Connecticut Avenue Securities (CAS) Issuance Calendar as part of continued efforts to ensure transparency in the market.
  • Fannie Mae has the option to issue, or forgo issuance of, one or more CAS deals during each window.
  • "The publication of our issuance calendar has become a key part of the program, providing investors with transparency and allowing them to plan for the year," said Laurel Davis, Vice President for Credit Risk Transfer, Fannie Mae.
  • "In 2020, we expect to continue our ongoing benchmark CAS REMIC issuance program to transfer credit risk on newly acquired loans.

Sierra Pacific’s New Mobile App Streamlines the Loan Process

Retrieved on: 
Tuesday, November 19, 2019

FOLSOM, CA, Nov. 19, 2019 (GLOBE NEWSWIRE) -- National lender Sierra Pacific Mortgage Company, Inc. announces the launch of its SPM GO Sierra Pacific Mortgages mobile application.

Key Points: 
  • FOLSOM, CA, Nov. 19, 2019 (GLOBE NEWSWIRE) -- National lender Sierra Pacific Mortgage Company, Inc. announces the launch of its SPM GO Sierra Pacific Mortgages mobile application.
  • The app provides users with a simplified loan application while providing simultaneous progress updates to borrowers, their REALTORS and Sierra Pacific Mortgage loan officers.
  • Powered by the industry-recognized mobile application developer Simple Nexus LLC, SPM GO streamlines the application process by eliminating the need to scan, fax or hand-deliver loan documents.
  • Sierra Pacific loan officers have additional access to SPM GO via their laptop which enables them to personally manage each application.

Finance of America Reverse Reduces Eligibility Age for Proprietary HomeSafe Offerings to 60 Years Old

Retrieved on: 
Tuesday, November 19, 2019

Finance of America Reverse LLC (FAR), one of the largest reverse mortgage lenders in the US and a leading provider of retirement solutions, today announced that the eligibility age for borrowers is now 60 years old for its HomeSafe Standard, HomeSafe Flex and HomeSafe Second products.

Key Points: 
  • Finance of America Reverse LLC (FAR), one of the largest reverse mortgage lenders in the US and a leading provider of retirement solutions, today announced that the eligibility age for borrowers is now 60 years old for its HomeSafe Standard, HomeSafe Flex and HomeSafe Second products.
  • FAR is the leading provider of propriety reverse mortgage products and offers the most diverse suite of products including; HomeSafe Standard, HomeSafe Flex, HomeSafe For Purchase, HomeSafe Second and HomeSafe Select.
  • As one of the largest reverse mortgage originators, Finance of America Reverse is committed to empowering adults age 60 and over with the tools they need to achieve financial independence and get to work on retirement.
  • Finance of America Reverse LLC is known as FAReverse LLC in NY in lieu of true name Finance of America Reverse LLC.

Hubilu Real Estate Acquisition Company Enters Agreement To Purchase Two Student Housing Properties

Retrieved on: 
Tuesday, November 19, 2019

"We finished our third quarter strong, acquiring one property, changing auditors and locating lenders to finance our purchases and refinances.

Key Points: 
  • "We finished our third quarter strong, acquiring one property, changing auditors and locating lenders to finance our purchases and refinances.
  • In addition to bringing our reporting current during this quarter, we are embarking on a gateway of acquisitions into 2020.
  • A number of factors could cause Hubilu Venture Corporation's actual results, performance or achievement to differ materially from those anticipated.
  • For further information on factors that could impact Hubilu Venture Corporation, reference is made to filings with the Securities and Exchange Commission.

FinVolution Group (formerly known as PPDAI Group Inc.) Reports Third Quarter 2019 Unaudited Financial Results

Retrieved on: 
Tuesday, November 19, 2019

Number of unique borrowers[3]was approximately 3.5 million for the third quarter of 2019, representing an increase of 28.6% from the same period of 2018.

Key Points: 
  • Number of unique borrowers[3]was approximately 3.5 million for the third quarter of 2019, representing an increase of 28.6% from the same period of 2018.
  • Loan origination volume[4]was approximately RMB24.6 billion for the third quarter of 2019, representing an increase of66.4% from the same period of 2018.
  • The proportion of total loan origination volumefacilitatedby institutional funding partners increased to approximately 75.1% for the third quarter of 2019 from 44.8% for the second quarter of 2019.
  • Net profit decreased by 7.9% to RMB598.5 million (US$83.7 million) for the third quarter of 2019, from RMB649.5 million in the same period of 2018.

KBRA Assigns Preliminary Ratings to BANK 2019-BNK23

Retrieved on: 
Monday, November 18, 2019

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 16 classes of BANK 2019-BNK23 (see ratings list below), a $1.3 billion CMBS conduit transaction collateralized by 47 commercial mortgage loans secured by 100 properties.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 16 classes of BANK 2019-BNK23 (see ratings list below), a $1.3 billion CMBS conduit transaction collateralized by 47 commercial mortgage loans secured by 100 properties.
  • The collateral properties are located in 25 states, with the top three states represented by California (41.7%), New York (12.8%), and Georgia (4.7%).
  • The pool has exposure to all the major property types, with the top three being office (35.6%), multifamily (25.4%), and retail (20.6%).
  • KBRA capitalization rates were applied to each assets KNCF to derive values that were, on an aggregate basis, 40.1% less than third party appraisal values.