Mortgage

KBRA Assigns Preliminary Ratings to PKHL Commercial Mortgage Trust 2021-MF

Retrieved on: 
Wednesday, July 7, 2021
Banking, Professional services, Finance, Finance, Money, Financial services, Loans, Banking, Mortgage, Structured finance, Commercial mortgage-backed security, Mortgage loan, Commercial mortgage, Securitization, Floating interest rate

Kroll Bond Rating Agency (KBRA) announces the preliminary assignment of ratings to 10 classes of PKHL Commercial Mortgage Trust 2021-MF, a CMBS singe-borrower securitization.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) announces the preliminary assignment of ratings to 10 classes of PKHL Commercial Mortgage Trust 2021-MF, a CMBS singe-borrower securitization.
  • The collateral for the transaction is a $225.0 million non-recourse, first lien mortgage loan.
  • The floating rate loan has an initial two-year term with three one-year extension options and requires monthly interest-only payments based on one-month LIBOR.
  • As of June 2021, the collateral was 79.6% leased, as one of the buildings is still in its initial lease up.

UCASU Received $400,000 Construction Loan on 1st SHOC Airbnb Property

Retrieved on: 
Tuesday, July 6, 2021
Money, Finance, Loans, Economy, Mortgage, Personal finance, Refinancing, Mortgage loan, Real estate investing, Southern Hemisphere Ornithological Congress, Collateral

ATLANTA, July 6, 2021 /PRNewswire/ -- UC Asset LP (OTCQX: UCASU), an Atlanta-based real estate investment firm, confirms that it has received a construction loan of $400,000 on its first Shared Home-Office Cluster (SHOC) property, through its wholly owned subsidiary SHOC Holdings LLC.

Key Points: 
  • ATLANTA, July 6, 2021 /PRNewswire/ -- UC Asset LP (OTCQX: UCASU), an Atlanta-based real estate investment firm, confirms that it has received a construction loan of $400,000 on its first Shared Home-Office Cluster (SHOC) property, through its wholly owned subsidiary SHOC Holdings LLC.
  • This property may be developed into 10 units for short-stay rental under the concept of SHOC.
  • "We are grateful to receive a construction loan that will likely cover all of our construction cost.
  • If renovation of the property can be completed by the maturity date, it is possible that the loan can be refinanced into a mortgage loan of longer term, collateralized with the finished SHOC property.

Latest MeasureOne Private Student Loan Report Finds Pandemic-Related Forbearance Levels Have Stabilized While Delinquencies and Defaults Remain at Historic Lows

Retrieved on: 
Tuesday, July 6, 2021
Money, Finance, Economy, Loans, Student loans in the United States, Mortgage, Credit, Forbearance, Private student loan, Student loan, Analytics

SAN FRANCISCO, July 6, 2021 /PRNewswire/ -- MeasureOne today releasedits Private Student Loan Report, an industry leading research report leveraging MeasureOne's custom analytics services.

Key Points: 
  • SAN FRANCISCO, July 6, 2021 /PRNewswire/ -- MeasureOne today releasedits Private Student Loan Report, an industry leading research report leveraging MeasureOne's custom analytics services.
  • In addition, the fact that delinquency and defaults remain at historic lows and forbearance levels are stabilizing, reaffirms how strong underwriting and focus on ability to repay leads to customer success."
  • The Private Student Loan Report ("Report") reflects data as of end-Q1 2021 for private student loans and does not include federal student loan data.
  • In addition to these MeasureOne Private Student Loan Consortium members, this report includes data from 9 other student lender contributors.

KBRA Releases CRE CLO Default and Loss Study

Retrieved on: 
Friday, July 2, 2021
Other Professional Services, Professional services, Finance, Money, Finance, Loans, Economy, Credit, Mortgage, Collateralized loan obligation, Financial law, CLO, Credit rating agency, Collateral, Default

Kroll Bond Rating Agency (KBRA) releases a commercial real estate (CRE) collateralized loan obligation (CLO) default and loss study, as the asset class enters its 10th year.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a commercial real estate (CRE) collateralized loan obligation (CLO) default and loss study, as the asset class enters its 10th year.
  • Over the decade, $82.4 billion of CRE CLOs have been issued, providing a good opportunity to study loan defaults.
  • The study population had a cumulative payment default rate of 2.5% by loan count, and, inclusive of modifications and maturity defaults, a cumulative combined default rate of 7.8%.
  • Notably, CRE CLO managers can generally choose to identify credit-impaired loans and purchase them from transactions prior or during the time in which they become a default.

Monitor Report: Goldman Sachs Completes $1.8B Consumer-Relief Mandate Under 2016 Mortgage Settlements

Retrieved on: 
Thursday, July 1, 2021
Finance, Subprime mortgage crisis, Financial services, Goldman Sachs, Banking, Mortgage loan, Mortgage-backed security, Mortgage, Goldman Sachs controversies, Wall Street and the Financial Crisis: Anatomy of a Financial Collapse

Some 39% of the credit under the Global Settlement Agreement was earned from Consumer Relief in the three Settling States.

Key Points: 
  • Some 39% of the credit under the Global Settlement Agreement was earned from Consumer Relief in the three Settling States.
  • Goldman Sachs deferred the repayment of the principal due on 37 mortgage loans.
  • Goldman Sachs' two settlement agreements resolved potential claims regarding the marketing, structuring, arrangement, underwriting, issuance and sale of mortgage-based securities.
  • The Monitor's mailing address is:
    Monitor of the Goldman Sachs Mortgage Settlement, P.O.

Maranon Closes Seventh Middle Market CLO

Retrieved on: 
Thursday, July 1, 2021
Banking, Professional services, Finance, Finance, Money, Economy, Loans, Collateralized loan obligation, Mortgage, Private equity, CLO

Maranon Capital, L.P. (Maranon) announced the closing of Maranon Loan Funding 2021-2, Ltd., a $625 million collateralized loan obligation (CLO).

Key Points: 
  • Maranon Capital, L.P. (Maranon) announced the closing of Maranon Loan Funding 2021-2, Ltd., a $625 million collateralized loan obligation (CLO).
  • This represents the seventh CLO issued by Maranon.
  • Maranon Loan Funding 2021-2 will primarily invest in leveraged loans to middle market, private equity-backed companies.
  • Maranon Capital, L.P. is an investment firm focused on private credit investments.

Greystone Provides $15.3 Million in HUD-Insured Financing for Three Property Multifamily Portfolio in Connecticut

Retrieved on: 
Thursday, July 1, 2021
Money, Finance, Loans, Financial services, Mortgage, Personal finance, FHA insured loan, Federal assistance in the United States, Refinancing

The loans were originated by Leor Dimant, Managing Director at Greystone.

Key Points: 
  • The loans were originated by Leor Dimant, Managing Director at Greystone.
  • Each of the non-recourse, permanent FHA loans carries a low, fixed interest rate and 35-year term and amortization.
  • The loans refinance the existing debt on the properties, enabling the borrower to continue with ongoing property improvements.
  • Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates.

Mortgage Rates Inch Down

Retrieved on: 
Thursday, July 1, 2021
Mortgage industry of the United States, Mortgage, Finance, Loans, Mortgage loan, Fixed-rate mortgage, Money, Commitment rate, Freddie Mac, Economy, United States housing bubble

MCLEAN, Va., July 01, 2021 (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 2.98 percent.

Key Points: 
  • MCLEAN, Va., July 01, 2021 (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 2.98 percent.
  • Although low and stable mortgage rates have kept the housing market booming over recent months, a deterioration in affordability and for-sale inventory has led to a market slowdown.
  • 15-year fixed-rate mortgage averaged 2.26 percent with an average 0.7 point, down from last week when it averaged 2.34 percent.
  • Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

Filo Mortgage Announces 1.99% 15-Year Rate with No Points for Purchases

Retrieved on: 
Wednesday, June 30, 2021
Banking, Other Construction & Property, Professional services, Residential Building & Real Estate, Construction & Property, Finance, Money, Financial services, Mortgage, Loans, Banking, Mortgage loan, Origination fee, Discount points, Second mortgage, Mortgage industry of the United States

Fast growing lender Filo Mortgage is now offering a 1.99% (1.99% APR) mortgage rate with no points and no origination fees for 15-year conventional term purchase loans.

Key Points: 
  • Fast growing lender Filo Mortgage is now offering a 1.99% (1.99% APR) mortgage rate with no points and no origination fees for 15-year conventional term purchase loans.
  • Filo Mortgage continues to be a leader in low rate mortgages with no points.
  • On 30-year conventional terms, Filo Mortgage is offering qualified applicants purchase loan rates as low as 2.625% (2.625% APR) with no points and no origination fees.
  • Filo Mortgage founder and co-CEO Jeffrey Frutkin said, We want to spread the word that you can get a very low rate with no points for your new home loan.

Greystone Provides $20.4 Million in HUD-Insured Financing for Assisted Living Facility in San Diego County, California

Retrieved on: 
Wednesday, June 30, 2021
Money, Finance, Loans, Mortgage, Economy, Personal finance, United States Department of Housing and Urban Development, Refinancing, FHA insured loan, Amortization, Loan servicing

NEW YORK, June 30, 2021 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, has provided a $20,388,100 HUD-insured loan to refinance an assisted living facility in San Diego, California.

Key Points: 
  • NEW YORK, June 30, 2021 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, has provided a $20,388,100 HUD-insured loan to refinance an assisted living facility in San Diego, California.
  • The non-recourse, permanent FHA loan features a low, fixed interest rate and 35-year term and amortization.
  • Located in Escondido and originally built in 1989, the 105-bed facility offers assisted living, memory care and short term stay services.
  • Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates.