United States housing bubble

MAXEX Adds Lesley Goldwasser to Board of Directors

Retrieved on: 
Tuesday, June 29, 2021
Data management, Residential Building & Real Estate, Commercial Building & Real Estate, Technology, Construction & Property, Professional services, Software, Other Professional Services, Networks, Other Construction & Property, Finance, Loans, Mortgage loan, Money, Finance, United States housing bubble, Mortgage industry of the United States, Structured finance, Economy, Financial crises

MAXEX, the first digital mortgage exchange for buying and selling residential loans through a single clearinghouse, announced today the addition of Lesley Goldwasser to the companys board of directors.

Key Points: 
  • MAXEX, the first digital mortgage exchange for buying and selling residential loans through a single clearinghouse, announced today the addition of Lesley Goldwasser to the companys board of directors.
  • Lesley has been an important partner in the execution of MAXEXs vision from the beginning, said MAXEX Chairman and CEO Tom Pearce.
  • MAXEX has made important strides in increasing standardization, liquidity and transparency in the worlds largest and most complex credit market, Goldwasser said.
  • MAXEX is an Atlanta-based fintech company led by mortgage experts and financially backed by leading private equity and capital markets investors.

Premium Mortgage Corporation Launches Neighborhood Vitality Program for Underserved Communities

Retrieved on: 
Monday, June 28, 2021
Loans, Mortgage loan, Mortgage industry of the United States, Economy, Banking, United States housing bubble

ROCHESTER, N.Y., June 28, 2021 /PRNewswire/ -- As a lender that prides itself on innovation, technology, and inclusiveness, Premium Mortgage Corporation is proud to announce the deployment of its "Neighborhood Vitality" program;a strategy it believes will help underserved communities in upstate New York.

Key Points: 
  • ROCHESTER, N.Y., June 28, 2021 /PRNewswire/ -- As a lender that prides itself on innovation, technology, and inclusiveness, Premium Mortgage Corporation is proud to announce the deployment of its "Neighborhood Vitality" program;a strategy it believes will help underserved communities in upstate New York.
  • Premium Mortgage Corporationwho already provides more loans to minorities in Buffalo than every other non-bank lenderhas established a special financing fund of a minimumof $500,000 to further incentivize the purchase of homes in historically disadvantaged communities.
  • Nonetheless, Premium Mortgage Corporation chose to enter into an agreement with DFS at the conclusion of its review, to utilize the Neighborhood Vitality program and invest a minimum of $500,000in homebuyer incentives to assist the State in realizing its goal in revitalizing the real estate market in these underserved areas.
  • Premium Mortgage Corporation believes its strategy which has already awarded over $100,000.00 in incentives -- can be an example for other lenders and other communities.

First Eagle Alternative Credit Hires Nishil Mehta to Expand its Private Fund CLO Debt and Equity Strategy

Retrieved on: 
Monday, June 28, 2021
Finance, Loans, Money, Collateralized loan obligation, Mortgage, First Eagle Investment Management, Financial law, Credit risk, United States housing bubble, H.I.G. Capital, GSO Capital Partners

BOSTON, June 28, 2021 (GLOBE NEWSWIRE) -- First Eagle Alternative Credit, LLC (First Eagle or the firm) has hired CLO industry veteran Nishil Mehta to assist with the expansion of First Eagles private fund collateralized loan obligation (CLO) debt and equity strategy.

Key Points: 
  • BOSTON, June 28, 2021 (GLOBE NEWSWIRE) -- First Eagle Alternative Credit, LLC (First Eagle or the firm) has hired CLO industry veteran Nishil Mehta to assist with the expansion of First Eagles private fund collateralized loan obligation (CLO) debt and equity strategy.
  • Mehta is a Managing Director and Product Specialist on First Eagle Alternative Credits Tradable Credit Team.
  • About First Eagle Alternative Credit, LLC
    First Eagle Alternative Credit ( https://www.feac.com/ ) is an alternative credit investment manager for both direct lending and broadly syndicated investments through public and private vehicles, collateralized loan obligations, separately managed accounts and co-mingled funds.
  • First Eagle Alternative Credit is a wholly owned subsidiary of First Eagle Investment Management, LLC.

Rapid House Price Appreciation Drives Affordability Lower, According to First American Real House Price Index

Retrieved on: 
Monday, June 28, 2021
Commercial Building & Real Estate, Insurance, Construction & Property, Finance, Consulting, Banking, REIT, Professional services, Residential Building & Real Estate, Articles, Economy, Economic inequality, Affordable housing, House price index, Mortgage loan, Price index, Real versus nominal value, Affordable housing in Canada, United States housing bubble

In April, First American Data & Analytics nominal house price index increased 16.2 percent year over year, the fastest pace since 2005.

Key Points: 
  • In April, First American Data & Analytics nominal house price index increased 16.2 percent year over year, the fastest pace since 2005.
  • Rapid appreciation is driving declines in affordability, despite rising incomes and lower mortgage rates, said Mark Fleming, chief economist at First American.
  • Nationally, according to our Real House Price Index , housing affordability declined in April on a year-over-year basis by 7.0 percent, the most since December 2018.
  • The next release of the First American Real House Price Index will take place the week of July 26, 2021 for May 2021 data.

Arbor Private Label Mortgage Lender Closes $450 Million Multifamily Mortgage Loan Securitization

Retrieved on: 
Friday, June 25, 2021
Finance, Money, United States housing bubble, Economy, Mortgage-backed security, Loans, Mortgage loan, Securitization

UNIONDALE, N.Y., June 25, 2021 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (Arbor) (NYSE:ABR) today announced the closing of a multifamily mortgage loan securitization totaling approximately $450 million (the Securitization).

Key Points: 
  • UNIONDALE, N.Y., June 25, 2021 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (Arbor) (NYSE:ABR) today announced the closing of a multifamily mortgage loan securitization totaling approximately $450 million (the Securitization).
  • Arbor affiliate Arbor Private Label, LLC, originated the mortgage loans and was the loan seller and sponsor for the Securitization.
  • The Securitization is the second for the Arbor Private Label multifamily mortgage loan securitization program.
  • The Securitization is backed by a pool of 32 fixed rate mortgage loans secured by first priority mortgage liens on 50 multifamily properties.

Freddie Mac Prices $743 Million Multifamily K-Deal, K-743

Retrieved on: 
Friday, June 25, 2021
Mortgage industry of the United States, Mortgage-backed security, Finance, United States housing bubble, Economy of the United States, Money, Structured finance, Loans, Mortgage loan, Freddie Mac, Fannie Mae

The K-743 Certificates are backed by corresponding classes issued by the FREMF 2021-K743 Mortgage Trust (K-743 Trust) and guaranteed by Freddie Mac.

Key Points: 
  • The K-743 Certificates are backed by corresponding classes issued by the FREMF 2021-K743 Mortgage Trust (K-743 Trust) and guaranteed by Freddie Mac.
  • Freddie Mac Multifamily is a leading issuer of agency-guaranteed structured multifamily securities.
  • Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.
  • Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders.

ARMOUR Residential REIT, Inc. Announces Guidance for July 2021 Dividend Rate Per Common Share

Retrieved on: 
Thursday, June 24, 2021
United States housing bubble, Real estate investment trust, Dividend, Mortgage-backed security, Mortgage industry of the United States, Corporate finance, Finance, Financial economics

In order to maintain this tax status, ARMOUR is required to timely distribute substantially all of its ordinary REIT taxable income.

Key Points: 
  • In order to maintain this tax status, ARMOUR is required to timely distribute substantially all of its ordinary REIT taxable income.
  • Dividends paid in excess of current tax earnings and profits for the year will generally not be taxable to common stockholders.
  • ARMOUR invests exclusively in fixed rate residential, adjustable rate and hybrid adjustable rate residential mortgage-backed securities issued or guaranteed by U.S.
  • ARMOUR is externally managed and advised by ARMOUR Capital Management LP, an investment advisor registered with the Securities and Exchange Commission (SEC).

FTC Sends Refunds to People who Lost Money to Student Loan, Mortgage Debt Relief Scheme

Retrieved on: 
Thursday, June 24, 2021
Money, Finance, United States housing bubble, Economy, Loans, Corporate crime, Federal Trade Commission, Foreclosure, Mortgage loan

The Federal Trade Commission is sending refunds totaling more than $223,000 to people who lost money to a student loan and mortgage debt relief operation.

Key Points: 
  • The Federal Trade Commission is sending refunds totaling more than $223,000 to people who lost money to a student loan and mortgage debt relief operation.
  • The FTC also alleged the defendants targeted distressed homeowners by making false promises that they would provide mortgage relief and prevent foreclosure.
  • The FTC never requires people to pay money or provide account information to cash a refund check.
  • The Commission has urged Congress to restore the FTCs ability to get money back for consumers.

FTC Sends Refunds to People who Lost Money to Student Loan, Mortgage Debt Relief Scheme

Retrieved on: 
Thursday, June 24, 2021
Money, Finance, United States housing bubble, Economy, Loans, Corporate crime, Federal Trade Commission, Foreclosure, Mortgage loan

The Federal Trade Commission is sending refunds totaling more than $223,000 to people who lost money to a student loan and mortgage debt relief operation.

Key Points: 
  • The Federal Trade Commission is sending refunds totaling more than $223,000 to people who lost money to a student loan and mortgage debt relief operation.
  • The FTC also alleged the defendants targeted distressed homeowners by making false promises that they would provide mortgage relief and prevent foreclosure.
  • The FTC never requires people to pay money or provide account information to cash a refund check.
  • The Commission has urged Congress to restore the FTCs ability to get money back for consumers.

Mortgage Rates Rise Above Three Percent

Retrieved on: 
Thursday, June 24, 2021
Mortgage industry of the United States, Mortgage, Finance, Loans, Mortgage loan, Money, Commitment rate, Fixed-rate mortgage, Freddie Mac, Economy, United States housing bubble

Mortgage rates have risen above three percent for the first time in ten weeks, said Sam Khater, Freddie Macs Chief Economist.

Key Points: 
  • Mortgage rates have risen above three percent for the first time in ten weeks, said Sam Khater, Freddie Macs Chief Economist.
  • As the economy progresses and inflation remains elevated, we expect that rates will continue to gradually rise in the second half of the year.
  • 15-year fixed-rate mortgage averaged 2.34 percent with an average 0.7 point, up from last week when it averaged 2.24 percent.
  • Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.