United States housing bubble

Ally Home launches RefiNow™ to provide greater access to mortgage refinance options for homeowners

Retrieved on: 
Tuesday, July 27, 2021
Mortgage, Finance, Personal finance, Money, United States housing bubble, Refinancing, Fannie Mae, Economy, Mortgage loan, Causes of the Great Recession, Subprime mortgage crisis

"Historically low rates make it an exceptional time to refinance your mortgage, but until now, many low-income consumers -- the very people most in need of financial relief -- have been unable to qualify for traditional refinancing options and benefit from these lower rates," says Glenn Brunker, president of Ally Home. "Through RefiNow, Ally Home is stepping up to help borrowers save money each month through lower interest rates, while simultaneously enabling them to build equity, grow wealth and foster economic mobility."

Key Points: 
  • Barriers that hamper homeowners with lower incomes from refinancing often result in those borrowers refinancing at a slower pace than those with higher incomes.
  • RefiNow is available to borrowers with a Fannie Mae-backed mortgage who are looking to refinance their single unit, principal residence.
  • Ally Financial (NYSE: ALLY) is a digital financial services company committed to its promise to "Do It Right" for its consumer, commercial and corporate customers.
  • A relentless ally for all things money, Ally helps people save well and earn well, so they can spend for what matters.

KBRA Assigns Preliminary Ratings to Sonic Capital LLC Series 2021-1 Senior Secured Notes

Retrieved on: 
Monday, July 26, 2021
Professional services, Finance, Video game characters, Films, Creative works, United States housing bubble, Credit risk, Debt, Securitization, Credit rating agency, Sonic the Hedgehog, KBRA, Issuer

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to two classes of notes from Sonic Capital LLC Series 2021-1, a whole business securitization.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to two classes of notes from Sonic Capital LLC Series 2021-1, a whole business securitization.
  • KBRA also anticipates affirming the ratings on the Series 2020-1 A-1 and A-2 Notes.
  • The transaction is a master trust, and the Series 2021-1 Class A-2 Notes (the Series 2021-1 Notes) represent the Master Issuers sixth securitization within the trust, which was created in May 2011.
  • Sonic Industries LLC, a wholly owned subsidiary of the Master Issuer, is the franchisor and operator of restaurants under the Sonic brand.

Common Securitization Solutions Names Kelly Isikoff Chief Information Security Officer

Retrieved on: 
Monday, July 26, 2021
Mortgage industry of the United States, United States housing bubble, Finance, Structured finance, Money, Economy of the United States, Mortgage-backed security, Fannie Mae, Securitization, Freddie Mac

BETHESDA, Md., July 26, 2021 /PRNewswire/ --Common Securitization Solutions (CSS) announced today that Kelly Isikoff has joined the firm as Chief Information Security Officer (CISO) effective today.

Key Points: 
  • BETHESDA, Md., July 26, 2021 /PRNewswire/ --Common Securitization Solutions (CSS) announced today that Kelly Isikoff has joined the firm as Chief Information Security Officer (CISO) effective today.
  • "CSS is thrilled to welcome Kelly Isikoff to our Technology leadership team," said Susan Gueli, Chief Technology Officer and Executive Vice President.
  • "Kelly brings an impressive blend of deep technical skill, practical business focus, and strong security expertise to CSS."
  • COMMON SECURITIZATION SOLUTIONS, LLC : Common Securitization Solutions (CSS) enables issuance of the largest segment of mortgage-backed securities the Uniform Mortgage-Backed Security by Fannie Mae and Freddie Mac helping support liquidity in the nation's housing finance markets.CSS does this through the Common Securitization Platform, the largest and most advanced securitization operation in the nation, which processes more than$400 billionin mortgage securities each month.

KBRA Assigns Preliminary Ratings to VCP RRL ABS I, Ltd.

Retrieved on: 
Friday, July 23, 2021
Consulting, Banking, Professional services, Finance, Finance, Money, Economy, Credit risk, Structured finance, United States housing bubble, Bond market, Credit, Credit enhancement, Securitization, Credit rating agency, Bond credit rating

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by VCP RRL ABS I, Ltd. (VCP RRL I), a securitization backed by a portfolio of recurring revenue and middle market corporate loans.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to three classes of notes issued by VCP RRL ABS I, Ltd. (VCP RRL I), a securitization backed by a portfolio of recurring revenue and middle market corporate loans.
  • The ratings reflect initial credit enhancement levels, excess spread, and structural features.
  • The portfolio presented to KBRA contains exposures to 43 obligors with 65.3% of the par exposure to the RRLs.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

New Fed Mortgage Expands Mortgage Lending Into North Carolina

Retrieved on: 
Friday, July 23, 2021
Mortgage industry of the United States, Finance, Money, Economy, Loans, Mortgage loan, Fannie Mae, Mortgage-backed security, United States housing bubble, Subprime mortgage crisis, Mortgage bank, Sun West Mortgage

DANVERS, Mass., July 23, 2021 /PRNewswire-PRWeb/ -- Massachusetts based New Fed Mortgage Corp., a multi-state residential mortgage lender is pleased to announce their approval by the North Carolina Commissioner of Banks to lend in the state and is now able to serve the state with a wide array of mortgage programs.

Key Points: 
  • DANVERS, Mass., July 23, 2021 /PRNewswire-PRWeb/ -- Massachusetts based New Fed Mortgage Corp., a multi-state residential mortgage lender is pleased to announce their approval by the North Carolina Commissioner of Banks to lend in the state and is now able to serve the state with a wide array of mortgage programs.
  • New Fed Mortgage President, Brian D'Amico, commented "Our goal is to work one on one with our clients in North Carolina with a hands-on approach throughout every step of the process to help them with the pursuit of home ownership.
  • New Fed Mortgage, an approved Fannie Mae and Freddie Mac seller servicer, is looking to create more lending opportunities in North Carolina with their consumer direct channel to serve the region as well as looking for opportunities with Branch Managers.
  • New Fed Mortgage has specialized in residential retail mortgage lending since 2001.

AG Mortgage Investment Trust, Inc. Completes Reverse Stock Split

Retrieved on: 
Thursday, July 22, 2021
Insurance, Professional services, Real estate investment trust, Mortgage loan, Structured finance, United States housing bubble, Mortgage-backed security, AG Mortgage Investment Trust, Inc., Angelo Gordon, AG MORTGAGE INVESTMENT TRUST, INC., ANGELO GORDON

AG Mortgage Investment Trust, Inc. (NYSE: MITT) (the Company) announced today that its previously announced 1-for-3 reverse stock split of common stock was completed following the close of business today.

Key Points: 
  • AG Mortgage Investment Trust, Inc. (NYSE: MITT) (the Company) announced today that its previously announced 1-for-3 reverse stock split of common stock was completed following the close of business today.
  • As a result of the reverse stock split, the number of outstanding shares of the Companys common stock was reduced from 48,510,978 to approximately 16,164,007.
  • Instead, cash will be paid in lieu of any fractional share that would have otherwise resulted from the reverse stock split.
  • About AG Mortgage Investment Trust, Inc.
    AG Mortgage Investment Trust, Inc. is a hybrid mortgage REIT that opportunistically invests in a diversified risk-adjusted portfolio of Credit Investments and Agency RMBS.

Mortgage Rates Trend Down

Retrieved on: 
Thursday, July 22, 2021
Mortgage, Loans, Mortgage loan, Money, Finance, Fixed-rate mortgage, United States housing bubble, Economy, Second mortgage, Subprime mortgage crisis

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.

Existing-Home Sales Expand 1.4% in June

Retrieved on: 
Thursday, July 22, 2021
United States housing bubble, Mixed liquor suspended solids, Sewerage, Seasonally adjusted annual rate, Foreclosure, Articles, Economy, Time

Existing-home sales rose 1.4% on a seasonally adjusted annual rate from May to June, with no region showing a sales decline.

Key Points: 
  • Existing-home sales rose 1.4% on a seasonally adjusted annual rate from May to June, with no region showing a sales decline.
  • Distressed sales5 foreclosures and short sales represented less than 1% of sales in June, equal to Mays percentage but down from 3% in June 2020.
  • NAR rebenchmarks home sales periodically using other sources to assess overall home sales trends, including sales not reported by MLSs.
  • Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.

Liquid Mortgage Issued Patent for Decentralized Systems and Methods for Managing Loans and Securities

Retrieved on: 
Thursday, July 22, 2021
Money, Finance, Loans, Economy, Financial law, Credit, Mortgage loan, Debt, United States housing bubble, Mortgage-backed security, Mortgage underwriting in the United States

DENVER, July 22, 2021 /PRNewswire/ -- Liquid Mortgage has been issued a U.S. Patent for its distributed ledger technology, supporting its vision for the future of debt markets.U.S.

Key Points: 
  • DENVER, July 22, 2021 /PRNewswire/ -- Liquid Mortgage has been issued a U.S. Patent for its distributed ledger technology, supporting its vision for the future of debt markets.U.S.
  • Patent 11,068,978 entitled, "Decentralized Systems and Methods for Managing Loans and Securities," aims to make debt markets more efficient and transparent, while lowering overall ecosystem costs.
  • The patent encompasses a significant portion of the Liquid Mortgage business model, including: creating loan-backed digital assets, multi-signature loan-level blockchain accounts, lender portfolio accounts to hold loan-backed digital assets, borrower payment information and distribution mechanics, and loan balance management.
  • "More than anything, this patent issuance shows we have been thinking outside the box for years to solve issues in an industry significantly lagging in technology," said Ian Ferreira, Founder and CEO of Liquid 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
Mortgage, Money, Finance, United States housing bubble, Foreclosure, Real property law, Urban decay, Mortgage loan, Black Knight, Economy

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] .