Mortgage

Freddie Mac Issues Monthly Volume Summary for June 2021

Retrieved on: 
Monday, July 26, 2021

MCLEAN, Va., July 26, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today posted to its website its Monthly Volume Summary for June 2021, which provides information on Freddie Macs mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities, and other investments.

Key Points: 
  • MCLEAN, Va., July 26, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today posted to its website its Monthly Volume Summary for June 2021, which provides information on Freddie Macs mortgage-related portfolios, securities issuance, risk management, delinquencies, debt activities, and other investments.
  • Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders.
  • Since our creation by Congress in 1970, weve made housing more accessible and affordable for homebuyers and renters in communities nationwide.
  • Learn more at FreddieMac.com , Twitter @ FreddieMac , and Freddie Macs blog FreddieMac.com/blog .

Oxford Lane Capital Corp. Schedules First Fiscal Quarter Earnings Release and Conference Call for July 30, 2021

Retrieved on: 
Friday, July 23, 2021

GREENWICH, Conn., July 23, 2021 (GLOBE NEWSWIRE) -- Oxford Lane Capital Corp. (Nasdaq: OXLC) (NasdaqGS: OXLCM) (NasdaqGS: OXLCP) (NasdaqGS: OXLCL) announced today that it will hold a conference call to discuss its first fiscal quarter earnings on Friday, July 30, 2021 at 9:00 AM ET.

Key Points: 
  • GREENWICH, Conn., July 23, 2021 (GLOBE NEWSWIRE) -- Oxford Lane Capital Corp. (Nasdaq: OXLC) (NasdaqGS: OXLCM) (NasdaqGS: OXLCP) (NasdaqGS: OXLCL) announced today that it will hold a conference call to discuss its first fiscal quarter earnings on Friday, July 30, 2021 at 9:00 AM ET.
  • The toll free dial-in number is 1-844-792-3730.
  • There will be a recorded replay of the call available for 30 days after the call.
  • About Oxford Lane Capital Corp.
    Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company principally investing in debt and equity tranches of collateralized loan obligation (CLO) vehicles.

Advance America: 4 Factors to Consider When Choosing a Small Loan

Retrieved on: 
Friday, July 23, 2021

Some general loan shopping advice applies to both types of loans, but small loans do have unique factors to consider.

Key Points: 
  • Some general loan shopping advice applies to both types of loans, but small loans do have unique factors to consider.
  • Regular fees are another critical consideration on small loans since any fee will be a much larger percentage of the total loan amount.
  • In other words, a $50 fee on a $100,000 mortgage is insignificant compared to that same $50 fee on a $300 loan.
  • If someone's looking for a small loan, there's a solid chance they need the funds relatively soon.

Senior Housing Wealth Exceeds Record $9.2Trillion

Retrieved on: 
Thursday, July 22, 2021

WASHINGTON, July 22, 2021 /PRNewswire/ -- Homeowners 62 and older saw their housing wealth grow by 3.4 percent or $305 billion in the first quarter to a record $9.23 trillion from Q4 2020, according to the latest quarterly release of the NRMLA/RiskSpan Reverse Mortgage Market Index.

Key Points: 
  • WASHINGTON, July 22, 2021 /PRNewswire/ -- Homeowners 62 and older saw their housing wealth grow by 3.4 percent or $305 billion in the first quarter to a record $9.23 trillion from Q4 2020, according to the latest quarterly release of the NRMLA/RiskSpan Reverse Mortgage Market Index.
  • The NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI) rose in Q1 2021 to 322.89, another all-time high since the index was first published in 2000.
  • The increase in older homeowners' wealth was mainly driven by an estimated three percent or $329 billion increase in home values, offset by a 1.2 percent or $23.9 billion increase in senior-held mortgage debt.
  • To date, more than 1.21 million households have utilized an FHA-insured reverse mortgage to help meet their financial needs.

Greystone Provides $37.5 Million Fannie Mae Loan for Multifamily Property in Idaho

Retrieved on: 
Thursday, July 22, 2021

NEW YORK, July 22, 2021 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, has provided a $37.5 million Fannie Mae Delegated Underwriting and Servicing (DUS) Green Building Certification loan to refinance a newly-constructed 481-unit multifamily property in Rexburg, Idaho.

Key Points: 
  • NEW YORK, July 22, 2021 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, has provided a $37.5 million Fannie Mae Delegated Underwriting and Servicing (DUS) Green Building Certification loan to refinance a newly-constructed 481-unit multifamily property in Rexburg, Idaho.
  • The financing was originated by Shana Daby and Lorie Hansen, Managing Directors at Greystone on behalf of Eden Apartment LLC.
  • The non-recourse $37,500,000 Fannie Mae loan carries a 10-year term, a fixed interest rate, five years of interest-only payments, and a 30-year amortization period.
  • Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates.

Mortgage Rates Trend Down

Retrieved on: 
Thursday, July 22, 2021

While the economy continues to mend, Treasury yields have decreased, and mortgage rates have followed suit.

Key Points: 
  • While the economy continues to mend, Treasury yields have decreased, and mortgage rates have followed suit.
  • Unfortunately, many homebuyers are unable to take advantage of low rates due to low inventory and high prices.
  • 15-year fixed-rate mortgage averaged 2.12 percent with an average 0.7 point, down from last week when it averaged 2.22 percent.
  • Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

Black Knight: 1.55 Million Serious Delinquencies Remain; At Current Rate of Reduction, 1 Million Still Likely As September's Wave of Forbearance Expirations Begins

Retrieved on: 
Thursday, July 22, 2021

1)Totals are extrapolated based on Black Knight's loan-level database of mortgage assets.

Key Points: 
  • 1)Totals are extrapolated based on Black Knight's loan-level database of mortgage assets.
  • 2)All whole numbers are rounded to the nearest thousand, except foreclosure starts, which are rounded to the nearest hundred.
  • For a more detailed view of this month's "first look" data, please visit the Black Knight newsroom .
  • For more information about gaining access to Black Knight's loan-level database, please send an email to [email protected] .

Illinois, Florida And New Jersey Dominate Markets Most At Risk From Damage Related To Coronavirus Pandemic

Retrieved on: 
Thursday, July 22, 2021

They included seven counties in the Chicago metropolitan area, four near New York City, all three in Delaware and four in central Florida.

Key Points: 
  • They included seven counties in the Chicago metropolitan area, four near New York City, all three in Delaware and four in central Florida.
  • The top 50 were scattered across 18 states in the second quarter, compared to 15 the prior time period.
  • The conclusions are drawn from an analysis of the most recent home affordability, equity and foreclosure reports prepared by ATTOM.
  • Counties were ranked in each category, from lowest to highest, with the overall conclusion based on a combination of the three ranks.

OFS Credit Company Provides June 2021 Net Asset Value Update

Retrieved on: 
Tuesday, July 20, 2021

OFS Credit Company, Inc. (NASDAQ: OCCI) (“OFS Credit,” the “Company,” “we,” “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“CLO”) equity and debt securities, today announced the following net asset value (“NAV”) estimate as of June 30, 2021.

Key Points: 
  • OFS Credit Company, Inc. (NASDAQ: OCCI) (OFS Credit, the Company, we, us or our), an investment company that primarily invests in collateralized loan obligation (CLO) equity and debt securities, today announced the following net asset value (NAV) estimate as of June 30, 2021.
  • Managements unaudited estimate of the range of our NAV per share of our common stock as of June 30, 2021 is between $13.74 and $13.84.
  • This estimate is not a comprehensive statement of our financial condition or results for the month ended June 30, 2021.
  • OFS Credit is a non-diversified, externally managed closed-end management investment company.

BrightSpire Capital Announces Closing of $800 Million Commercial Real Estate CLO

Retrieved on: 
Tuesday, July 20, 2021

BrightSpire Capital, Inc. (NYSE: BRSP) (“BrightSpire Capital” or the “Company”) today announced that the Company closed BRSP 2021-FL1, an $800 million managed Commercial Real Estate Collateralized Loan Obligation (the “CRE CLO”). The CRE CLO is collateralized by interests in 31 floating-rate mortgages secured by 41 properties, with an 83.75% initial advance rate at a weighted average coupon at issuance of L+149%, before transaction costs. The asset collateral is located across 11 states and primarily consists of multifamily properties, with the remainder collateralized by office and self-storage. The structure features a two-year reinvestment period.

Key Points: 
  • BrightSpire Capital, Inc. (NYSE: BRSP) (BrightSpire Capital or the Company) today announced that the Company closed BRSP 2021-FL1, an $800 million managed Commercial Real Estate Collateralized Loan Obligation (the CRE CLO).
  • The successful execution of our second managed CRE CLO and our first as an internally managed mortgage REIT is an important milestone for BrightSpire Capital, Inc.
  • We will continue to execute our business plan, which includes increasing exposure to senior mortgage loans, highlighted Andy Witt, Chief Operating Officer of BrightSpire Capital.
  • Matthew Heslin, Head of Debt Capital Markets at BrightSpire Capital, added, This transaction further diversifies our funding sources, while generating liquidity, reducing our cost of capital and providing additional non mark-to-market, match term financing.