Mortgage

RMR Mortgage Trust Closes $27.4 Million First Mortgage Bridge Loan Refinancing of an Office Property in Plano, Texas

Retrieved on: 
Tuesday, July 13, 2021
REIT, Finance, Professional services, Commercial Building & Real Estate, Construction & Property, Mortgage, Money, Finance, Mortgage loan, Economy, Refinancing, Commercial mortgage, Cash out refinancing

RMR Mortgage Trust (Nasdaq: RMRM) today announced the closing of a $27.4 million first mortgage floating-rate bridge loan to refinance 500 N. Central Expressway in Plano, Texas, a five-story, 237,000 square foot, multi-tenant office property.

Key Points: 
  • RMR Mortgage Trust (Nasdaq: RMRM) today announced the closing of a $27.4 million first mortgage floating-rate bridge loan to refinance 500 N. Central Expressway in Plano, Texas, a five-story, 237,000 square foot, multi-tenant office property.
  • The loan is structured with a three-year initial term and two one-year extension options, subject to the borrower meeting certain requirements.
  • Tom Lorenzini , President of RMRM, made the following statement:
    We continue to expand and diversify RMRMs portfolio with the closing of this first mortgage whole loan.
  • RMR Mortgage Trust (Nasdaq: RMRM) is a real estate finance company that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate.

Most Americans Believe Homeownership Is Still a Wise Investment, but Mortgage Process Doesn’t Fit Their Lives

Retrieved on: 
Tuesday, July 13, 2021
Finance, Banking, Professional services, Residential Building & Real Estate, Construction & Property, Loans, Mortgage loan, Wyndham Capital Mortgage, Mortgage

According to a survey by Atomik Research for Wyndham Capital Mortgage, more than half of the respondents (58 percent) believe they should be able to apply for a mortgage exclusively via smartphone.

Key Points: 
  • According to a survey by Atomik Research for Wyndham Capital Mortgage, more than half of the respondents (58 percent) believe they should be able to apply for a mortgage exclusively via smartphone.
  • While many mortgage lenders promise a digital-only experience, the truth is no one is able to offer a 100-percent online mortgage.
  • As a Fintech mortgage lender, Wyndham Capital is leading the way to revamp the end-to-end mortgage process by automating 3.5 million menial, repetitive tasks.
  • Research Methodology: Wyndham Capital Mortgage commissioned Atomik Research to run an online survey of 2,342 adults in the United States for their Mortgage 101 survey.

Greystone Provides $25.8 Million in Freddie Mac Financing for a Multifamily Property in Tennessee

Retrieved on: 
Tuesday, July 13, 2021
Loans, Finance, Money, Mortgage industry of the United States, Economy, Mortgage, Greystone, Loan servicing, Freddie Mac, Amortization

NEW YORK, July 13, 2021 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, has provided a $25.8 million Freddie Mac Optigo loan for the acquisition of a multifamily property in Chattanooga, Tennessee.

Key Points: 
  • NEW YORK, July 13, 2021 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, has provided a $25.8 million Freddie Mac Optigo loan for the acquisition of a multifamily property in Chattanooga, Tennessee.
  • The $25,764,000 Freddie Mac loan finances Northshore Village, and carries a 10-year term with interest only payments for the first 5 years, as well as a 30-year amortization period.
  • Greystones deep experience with multifamily property financing enables us to navigate a variety of capital needs, said Mr. King.
  • Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates.

NMI Holdings, Inc. to Announce Second Quarter 2021 Financial Results on August 3, 2021

Retrieved on: 
Tuesday, July 13, 2021
Finance, Money, Mortgage industry of the United States, Mortgage, Loans, Lenders mortgage insurance, Mortgage insurance, Mortgage loan, NASDAQ

EMERYVILLE, Calif., July 13, 2021 (GLOBE NEWSWIRE) -- NMI Holdings, Inc. , (NASDAQ: NMIH), the parent company of National Mortgage Insurance Corporation (National MI), today announced that it will report results for its second quarter ended June 30, 2021 after the market close on Tuesday, August 3, 2021.

Key Points: 
  • EMERYVILLE, Calif., July 13, 2021 (GLOBE NEWSWIRE) -- NMI Holdings, Inc. , (NASDAQ: NMIH), the parent company of National Mortgage Insurance Corporation (National MI), today announced that it will report results for its second quarter ended June 30, 2021 after the market close on Tuesday, August 3, 2021.
  • The company will hold a conference call and live webcast at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time.
  • The webcast will be available on the company's website at https://ir.nationalmi.com/events-and-presentations .
  • NMI Holdings, Inc. (NASDAQ: NMIH) is the parent company of National Mortgage Insurance Corporation (National MI), a U.S.-based, private mortgage insurance company enabling low-down-payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower's default.

Turning the Corner in April: CoreLogic Reports First Annual Decrease in US Overall Delinquency Rate Since March 2020

Retrieved on: 
Tuesday, July 13, 2021
Professional services, Data management, Technology, Residential Building & Real Estate, Software, Finance, Construction & Property, Finance, Money, United States housing bubble, Mortgage, Economy, Foreclosure, Real property law, Urban decay, CoreLogic, Mortgage loan

To gain an accurate view of the mortgage market and loan performance health, CoreLogic examines all stages of delinquency.

Key Points: 
  • To gain an accurate view of the mortgage market and loan performance health, CoreLogic examines all stages of delinquency.
  • Adverse Delinquency (60 to 89 days past due): 0.3%, down from 0.7% in April 2020.
  • Serious Delinquency (90 days or more past due, including loans in foreclosure): 3.3%, up from 1.2% in April 2020.
  • Foreclosure Inventory Rate (the share of mortgages in some stage of the foreclosure process): 0.3%, unchanged from April 2020.

Sabre Corporation Announces Refinancing of Revolving Credit Loans and Term B Loans

Retrieved on: 
Monday, July 12, 2021
Money, Finance, Economy, Credit, Travel technology, Personal finance, Loans, Mortgage, Sabre Corporation, Refinancing, Debt, Bookrunner

SOUTHLAKE, Texas, July 12, 2021 /PRNewswire/ -- Sabre Corporation ("Sabre") (Nasdaq: SABR) today announced a refinancing of a portion of its existing indebtedness, including the repayment in full of its Term Loan B facility and its Revolving Credit Loan facility, and termination of the revolving commitments thereunder.

Key Points: 
  • SOUTHLAKE, Texas, July 12, 2021 /PRNewswire/ -- Sabre Corporation ("Sabre") (Nasdaq: SABR) today announced a refinancing of a portion of its existing indebtedness, including the repayment in full of its Term Loan B facility and its Revolving Credit Loan facility, and termination of the revolving commitments thereunder.
  • Sabre incurred no additional indebtedness as a result of the refinancing above the refinanced amount, other than amounts covering certain interest, fees and expenses.
  • The New Facilities and the LC Facility areguaranteed by Sabre Holdings Corporation and each subsidiary of Sabre GLBL that guarantees the Credit Agreement.
  • BofA Securities, Inc. acted as sole bookrunner and sole lead arranger for the New Term B-2 Facility.

Redfin Survey Finds Hispanic Homeowners More Likely to Receive Financial Help Buying a Home

Retrieved on: 
Monday, July 12, 2021
Ownership, Housing, Land tenure, Owner-occupancy, Property, Mortgage, Real estate, Law and economics

Additionally, Hispanic respondents are more likely than respondents of other races to have received direct help making rent or mortgage payments from parents and other family members.

Key Points: 
  • Additionally, Hispanic respondents are more likely than respondents of other races to have received direct help making rent or mortgage payments from parents and other family members.
  • That's according to a Redfin survey of homeowners fielded during the first week of June.
  • Meanwhile, 47% of Hispanic homeowners have adult relatives living in their home, compared with 39% of Black homeowners and 27% of white homeowners.
  • Hispanic homeowners are also more likely than people of other races to have made financial sacrifices to afford their first home.

KBRA Assigns Preliminary Ratings to Diameter Capital CLO 1 Ltd

Retrieved on: 
Friday, July 9, 2021
Professional services, Finance, Loans, Collateralized loan obligation, Mortgage, CLO, Economy, Financial law, Financial services, Applicable margin reset

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by Diameter Capital CLO 1 Ltd (Diameter CLO 1), a cash flow collateralized loan obligation (CLO) backed by a diversified portfolio of broadly syndicated corporate loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by Diameter Capital CLO 1 Ltd (Diameter CLO 1), a cash flow collateralized loan obligation (CLO) backed by a diversified portfolio of broadly syndicated corporate loans.
  • Diameter CLO 1 is managed by Diameter CLO Advisors LLC (Diameter or the collateral manager) and will have a five-year reinvestment period.
  • The collateral in Diameter CLO 1 will mainly consist of broadly syndicated leveraged loans issued by corporate obligors diversified across sectors.
  • Diameter CLO Advisors LLC is the CLO platform of Diameter Capital Partners LP (DCP), an alternative asset management firm established in 2017.

RateGenius Releases July 2021 Average Auto Refinance Rate Report

Retrieved on: 
Friday, July 9, 2021
Mortgage, Personal finance, Refinancing, Finance, Money, Economy, Short refinance

AUSTIN, Texas, July 09, 2021 (GLOBE NEWSWIRE) -- RateGenius, one of the largest providers of auto refinance loans in America with more than 150 lender partners nationwide, today released its monthly Auto Refinance Rate Report, which found that the average overall auto refinance interest rate for June 2021 was 6.63%.

Key Points: 
  • AUSTIN, Texas, July 09, 2021 (GLOBE NEWSWIRE) -- RateGenius, one of the largest providers of auto refinance loans in America with more than 150 lender partners nationwide, today released its monthly Auto Refinance Rate Report, which found that the average overall auto refinance interest rate for June 2021 was 6.63%.
  • The monthly Auto Refinance Rate Report is an analysis of anonymized completed auto refinance applications and funded (closed) loans in RateGeniuss lender network.
  • Below are the top statistics from the report, which can be read in full here: Auto Refinance Rate Report: July 2021 .
  • The overall average auto refinance interest rate decreased slightly in June from Mays average rate of 6.67%.

CIM Group Closes $135.85 Million Construction Loan to Medistar Corporation for Texas A&M University Student Housing and Parking Complex in Houston

Retrieved on: 
Friday, July 9, 2021
Commercial Building & Real Estate, Construction & Property, Finance, Professional services, University, Education, Other Construction & Property, Residential Building & Real Estate, Real estate, Mortgage, Construction, Construction loan, Loans, CIM Group

CIM Group, a community-focused real estate and infrastructure owner, operator, lender, and developer, announced today that it has closed a $135.85 million construction loan to Medistar Corporation.

Key Points: 
  • CIM Group, a community-focused real estate and infrastructure owner, operator, lender, and developer, announced today that it has closed a $135.85 million construction loan to Medistar Corporation.
  • The loan package will finance the development of a student housing complex and parking garage at Texas A&M Innovation Plaza, a five-acre mixed-use project at the Texas Medical Center in Houston, TX.
  • The Medistar development with Texas A&M University System is the largest public-private partnership undertaken outside Texas A&Ms flagship university in College Station, TX.
  • CIM Group is an active lender that through its CIM Real Estate Strategies business recently closed an approximately $90 million construction loan and an approximately $122 million bridge loan.