United States housing bubble

Freddie Mac Announces Pricing of $385 Million Multifamily Small Balance Loan Securitization

Friday, June 11, 2021 - 3:54pm

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 five 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.

Arbor Realty Trust Closes a $815 Million Collateralized Loan Obligation Securitization

Thursday, June 10, 2021 - 9:02pm

UNIONDALE, N.Y., June 10, 2021 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (NYSE: ABR), today announced the closing of a $815 million commercial real estate mortgage loan securitization (the Securitization).

Key Points: 
  • UNIONDALE, N.Y., June 10, 2021 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (NYSE: ABR), today announced the closing of a $815 million commercial real estate mortgage loan securitization (the Securitization).
  • An aggregate of approximately $674 million of investment grade-rated notes were issued (the Notes) and Arbor retained subordinate interests in the issuing vehicle of approximately $141 million.
  • The $815 million of collateral includes approximately $162 million of capacity to acquire additional loans for a period of up to 180 days from the closing date of the Securitization.
  • Arbor Realty Trust, Inc. (NYSE: ABR ) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, single-family rental (SFR) portfolios, and other diverse commercial real estate assets.

KBRA Assigns Preliminary Ratings to Mosaic Solar Loan Trust 2021-2

Thursday, June 10, 2021 - 9:55pm

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by Mosaic Solar Loan Trust 2021-2 (Mosaic 2021-2), an asset-backed securitization collateralized by a pool of residential solar loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to four classes of notes issued by Mosaic Solar Loan Trust 2021-2 (Mosaic 2021-2), an asset-backed securitization collateralized by a pool of residential solar loans.
  • The collateral pool of Mosaic 2021-2 will include approximately $218.2 million of residential solar loans, which comprises of approximately $120.0 million in loans at closing and $98.2 million in additional prefunded solar loans.
  • The preliminary ratings reflect the initial credit enhancement levels ranging from 51.97% for the Class A notes to 12.14% for the Class D notes.
  • Solar Mosaic, Inc. (Mosaic or the Company) is a California-based specialty finance company focused on originating and servicing consumer loans used for the purchase of residential solar systems.

PennyMac Mortgage Investment Trust Announces Update for Investor Day on June 17, 2021

Thursday, June 10, 2021 - 9:30pm

PennyMac Mortgage Investment Trust (NYSE: PMT) today announced an update regarding its combined virtual Investor Day with PennyMac Financial Services, Inc. (NYSE: PFSI) on Thursday, June 17, 2021.

Key Points: 
  • PennyMac Mortgage Investment Trust (NYSE: PMT) today announced an update regarding its combined virtual Investor Day with PennyMac Financial Services, Inc. (NYSE: PFSI) on Thursday, June 17, 2021.
  • Registration for the event is now open and available on the Companys investor relations website at www.PennyMac-REIT.com .
  • PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets.
  • Additional information about PennyMac Mortgage Investment Trust is available at www.PennyMac-REIT.com .

Gledhow Investments plc:

Thursday, June 10, 2021 - 7:03pm

1. Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.

Key Points: 
  1. Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.

RealtyTrac Enhances Online Offerings and Resources for Real Estate Investors and Agents

Thursday, June 10, 2021 - 5:00pm

RealtyTrac, the largest online marketplace for foreclosure and distressed properties and an ATTOM Data Solutions company, today announced a significant enhancement of its data offerings and resources available on realtytrac.com to help individual investors and real estate agents find, analyze and invest in residential properties.

Key Points: 
  • RealtyTrac, the largest online marketplace for foreclosure and distressed properties and an ATTOM Data Solutions company, today announced a significant enhancement of its data offerings and resources available on realtytrac.com to help individual investors and real estate agents find, analyze and invest in residential properties.
  • The new web platform showcases RealtyTracs property-level database which includes more than 90% of foreclosure properties in the U.S., the largest distressed real estate database available to investors and agents.
  • For real estate agents, the site helps them find inventory for their clients who are interested in buying foreclosure homes.
  • Founded in 1996, RealtyTrac publishes the largest database of foreclosure property information in the U.S. in addition to other real estate and mortgage data used by real estate investors and agents to find, analyze and invest in residential and commercial distressed properties.

Mortgage Rates Move Slightly

Thursday, June 10, 2021 - 3:00pm

MCLEAN, Va., June 10, 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 2.96 percent.

Key Points: 
  • MCLEAN, Va., June 10, 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 2.96 percent.
  • Despite the stronger economy, the housing market is experiencing a slowdown in purchase application activity due to modestly higher mortgage rates.
  • 15-year fixed-rate mortgage averaged 2.23 percent with an average 0.6 point, down from last week when it averaged 2.27 percent.
  • Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

Lingering Supply-Demand Imbalance Continues to Drive Prices Even Higher, Latest HouseCanary Data Shows

Thursday, June 10, 2021 - 1:00pm

HouseCanary, Inc. (HouseCanary), a leading provider of residential real estate data and home valuations, today released its latest Market Pulse report, covering 22 listing-derived metrics and comparing data between May 2020 and May 2021.

Key Points: 
  • HouseCanary, Inc. (HouseCanary), a leading provider of residential real estate data and home valuations, today released its latest Market Pulse report, covering 22 listing-derived metrics and comparing data between May 2020 and May 2021.
  • The Market Pulse is an ongoing review of proprietary data and insights from HouseCanarys nationwide platform.
  • The inventory deficit that developed in the wake of the COVID-19 pandemic continues to drive single-family home prices higher, leading to record levels of price growth across the United States.
  • As a result of these astronomical home prices and relatively stagnant mortgage rates, the number of people applying for mortgages has slowed recently.

KBRA Assigns Preliminary Ratings to Progress Residential 2021-SFR5

Wednesday, June 9, 2021 - 11:14pm

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to nine classes of Progress Residential 2021-SFR5 (Progress 2021-SFR5) single-family rental pass-through certificates.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to nine classes of Progress Residential 2021-SFR5 (Progress 2021-SFR5) single-family rental pass-through certificates.
  • The subject transaction will be the fifteenth KBRA-rated securitization issued by Progress Residential.
  • The underlying single-family rental properties are located in or near 22 Core Based Statistical Areas (CBSAs) across 10 states.
  • To determine loss given default, KBRA assumed the underlying collateral properties would be liquidated in the residential property market.

Ellington Residential Mortgage REIT Increases Common Dividend

Wednesday, June 9, 2021 - 10:53pm

Ellington Residential Mortgage REIT (NYSE: EARN) (the "Company") today announced that its Board of Trustees has declared a dividend for the second quarter of 2021 of $0.30 per share, payable on July 26, 2021, to common shareholders of record as of June 30, 2021.

Key Points: 
  • Ellington Residential Mortgage REIT (NYSE: EARN) (the "Company") today announced that its Board of Trustees has declared a dividend for the second quarter of 2021 of $0.30 per share, payable on July 26, 2021, to common shareholders of record as of June 30, 2021.
  • This dividend represents an increase of more than 7% as compared to the Company's previously declared common dividend.
  • Ellington Residential Mortgage REIT is a mortgage real estate investment trust that specializes in acquiring, investing in and managing residential mortgage- and real estate-related assets, with a primary focus on residential mortgage-backed securities for which the principal and interest payments are guaranteed by a U.S. government agency or a U.S. government-sponsored enterprise.
  • Ellington Residential Mortgage REIT is externally managed and advised by Ellington Residential Mortgage Management LLC, an affiliate of Ellington Management Group, L.L.C.