United States housing bubble

KBRA Releases Research – Freddie Mac K-Series Loan Default and Loss Study

Retrieved on:

Friday, July 30, 2021

Consulting, Banking, Professional services, Finance, United States housing bubble, Mortgage industry of the United States, Credit risk, Finance, Credit rating agency, Freddie Mac, Securitization, Money, Economy

Kroll Bond Rating Agency (KBRA) releases a loan default and loss study on the Freddie Mac K-Series.

Key Points:

Kroll Bond Rating Agency (KBRA) releases a loan default and loss study on the Freddie Mac K-Series.
In the report, KBRA reviewed the performance of 17,037 loans from 300 transactions securitized from June 2009 to December 2020.
The study population exhibited a cumulative default rate of 0.35% (59 loans).
The study examined default rates by its property, loan, and financial characteristics.

KBRA Releases Research – CMBS Loan Performance Trends: July 2021

Retrieved on:

Friday, July 30, 2021

Banking, Professional services, Finance, Finance, Money, Mortgage, Structured finance, Financial services, United States housing bubble, Commercial mortgage-backed security, Loan servicing, Mortgage-backed security, Commercial mortgage, Capital Services Group, Primary servicer

Kroll Bond Rating Agency (KBRA) releases a report on U.S. commercial mortgage-backed securities (CMBS) loan performance trends observed in the July 2021 servicer reporting period.

Key Points:

Kroll Bond Rating Agency (KBRA) releases a report on U.S. commercial mortgage-backed securities (CMBS) loan performance trends observed in the July 2021 servicer reporting period.
This month, KBRA also analyzed the special servicing and modification activity of CMBS 2.0 loans outstanding at the start of the pandemic.
From April 2020 to June 2021, 1,383 (7.1%) loans transferred to special servicing, totaling $49.5 billion (11.1%).
Of these, 28.6% by loan count and 34.6% by balance have transferred back to the master servicer.

KBRA Assigns Preliminary Ratings to U.S. Auto Funding Trust 2021-1

Retrieved on:

Thursday, July 29, 2021

Banking, Professional services, Finance, Finance, Money, Economy, Structured finance, United States housing bubble, Credit, Credit enhancement, Fixed income, Securitization, Credit rating agency

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by U.S. Auto Funding Trust 2021-1 (USAUT 2021-1), a subprime auto loan ABS transaction.

Key Points:

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by U.S. Auto Funding Trust 2021-1 (USAUT 2021-1), a subprime auto loan ABS transaction.
Credit enhancement consists of excess spread, overcollateralization, subordination (except for the Class E Notes) and a reserve account funded at closing.
USAUT 2021-1 represents the first ABS securitization in 2021 for U.S. Auto Finance, Inc. (U.S. Auto or the Company) and their third rated term ABS securitization since inception.
KBRA considered its operational review of U.S. Auto, as well as periodic update calls with the Company.

Another Record-Breaking ABS Transaction and a New Milestone for LendingPoint

Retrieved on:

Thursday, July 29, 2021

This transaction also represented the largest unsecured consumer loan ABS issuance from a single originating platform brought to market since the onset of COVID.

Key Points:

This transaction also represented the largest unsecured consumer loan ABS issuance from a single originating platform brought to market since the onset of COVID.
Since 2017, LendingPoint has issued over $3 billion of rated and unrated securitizations across thirteen (13) transactions.
Credit Suisse Securities and Guggenheim Securities served as joint bookrunners on LDPT 2021-A, and Credit Suisse Securities served as sole structuring agent.
For the past two years, LendingPoint has been named on Inc. 5000s list of fastest-growing private companies, ranking 17th in 2019.

Fair Home Buyers, LLC Takes Home-Buying Services Nationwide

Retrieved on:

Thursday, July 29, 2021

United States housing bubble, Real property law, Real estate

Fair Home Buyers will provide owners with moving assistance, as well as other critical services to accelerate the sale and move-out.

Key Points:

Fair Home Buyers will provide owners with moving assistance, as well as other critical services to accelerate the sale and move-out.
To combat that, Fair Home Buyers provides moving assistance, rental and new home finder services, and will even clean out the old home at no cost to the seller.
Along with title resolution services to overcome even the most difficult title issues.
Finally, Fair Home Buyers, LLC, purchases all types of homes, including:

CPS Announces $291.0 Million Senior Subordinate Asset-Backed Securitization

Retrieved on:

Wednesday, July 28, 2021

Finance, Money, United States housing bubble, Credit risk, Debt, Securitization, Economy, Security, Financial law, Asset-backed security

The transaction utilizes a pre-funding structure, in which CPS sold approximately $211.6 million of receivables at inception and plans to sell approximately $88.4 million of additional receivables in July 2021.

Key Points:

The transaction utilizes a pre-funding structure, in which CPS sold approximately $211.6 million of receivables at inception and plans to sell approximately $88.4 million of additional receivables in July 2021.
This further sale is intended to provide CPS with long-term financing for receivables purchased primarily in the month of July.
The transaction was a private offering of securities, not registered under the Securities Act of 1933, or any state securities law.
We fund these contract purchases on a long-term basis through the securitization markets and service the loans over their entire contract terms.

MAXEX Provides Liquidity for Non-Owner Occupied and Second Home Loans

Retrieved on:

Wednesday, July 28, 2021

Technology, Construction & Property, Finance, Banking, Professional services, Software, Other Construction & Property, Data management, Residential Building & Real Estate, Pricing, Mortgage industry of the United States, United States housing bubble, Finance, Subprime mortgage crisis, Financial services, Money, Financial markets

MAXEX was designed to complement the GSEs by providing liquidity in segments of the market where they do not operate, said MAXEX Chief Revenue Officer, Brennan Walters.

Key Points:

MAXEX was designed to complement the GSEs by providing liquidity in segments of the market where they do not operate, said MAXEX Chief Revenue Officer, Brennan Walters.
Our exchange immediately began providing liquidity for NOO and second homes as mortgage lenders were forced to quickly seek alternatives.
MAXEX is delivering daily competitive pricing on NOO and second home loans from multiple leading investors.
Pricing is continually updated daily, and all loans are sold through MAXEX as the centralized loan clearing house.

Blackstone Mortgage Trust Reports Second Quarter 2021 Results

Retrieved on:

Wednesday, July 28, 2021

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) today reported its second quarter 2021 results.

Key Points:

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) today reported its second quarter 2021 results.
Blackstone Mortgage Trust issued a full presentation of its second quarter 2021 results, which can be viewed at www.bxmt.com .
Blackstone Mortgage Trust (NYSE:BXMT) is a real estate finance company that originates senior loans collateralized by commercial real estate in North America, Europe, and Australia.
Blackstone Mortgage Trust assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events or circumstances.

Climate Risk Analysis Report Measures Flooding and Wildfire Risk in U.S. Single-Family Property Market and CRT Bond Market

Retrieved on:

Wednesday, July 28, 2021

Financial law, Finance, Money, Financial markets, Economy, Actuarial science, Credit risk, Investment, Bond, Financial risk, Valuation, United States housing bubble

NATICK, Mass., July 28, 2021 /PRNewswire-PRWeb/ --DeltaTerra Capital, an investment research firm focused on climate risk analysis for institutional investors, released a report assessing climate impact on the single-family housing market across the continental United States.

Key Points:

NATICK, Mass., July 28, 2021 /PRNewswire-PRWeb/ --DeltaTerra Capital, an investment research firm focused on climate risk analysis for institutional investors, released a report assessing climate impact on the single-family housing market across the continental United States.
These losses could significantly impact investment performance for exposed securities such as credit risk transfer (CRT) bonds for the next five to 10 years.
The report uses the STACR 2020-DNA6 CRT transaction as a case study and indicates how potential value losses would impact its performance.
The Klima platform also maps property valuation risk to default risk for mortgages supporting CRT bonds to arrive at decision useful bond risk metrics, making DeltaTerra's Klima CRT an indispensable tool for asset managers seeking actionable investment insights.

Granite Point Mortgage Trust Inc. Announces Dates for Second Quarter 2021 Earnings Release and Conference Call

Retrieved on:

Tuesday, July 27, 2021

Finance, Banking, Professional services, Commercial Building & Real Estate, Construction & Property, Loans, Mortgage loan, Finance, Money, Mortgage industry of the United States, Mortgage-backed security, United States housing bubble, Structured finance, Economy

Granite Point Mortgage Trust Inc. (NYSE: GPMT) (GPMT, Granite Point or the Company) today announced that it will release financial results for the quarter ended June 30, 2021 after market close on August 9, 2021.

Key Points:

Granite Point Mortgage Trust Inc. (NYSE: GPMT) (GPMT, Granite Point or the Company) today announced that it will release financial results for the quarter ended June 30, 2021 after market close on August 9, 2021.
The Company will host a conference call to review the financial results on August 10, 2021, at 10:00 a.m.
To participate in the teleconference, approximately 10 minutes prior to the above start time please call toll-free (833) 255-2835, (or (412) 902-6769 for international callers), and ask to be joined into the Granite Point Mortgage Trust Inc. call.
Granite Point Mortgage Trust Inc. is a Maryland corporation focused on directly originating, investing in and managing senior floating rate commercial mortgage loans and other debt and debt-like commercial real estate investments.