Government National Mortgage Association

KBRA Assigns Ratings to FMC GMSR ISSUER TRUST, MSR COLLATERALIZED NOTES, Series 2024-SAT1

Retrieved on: 
Tuesday, March 26, 2024
Finance, Data Analytics, Professional Services, Other Professional Services, Insurance, MSR, Note, VFN, TRUST, KBRA, Government National Mortgage Association, FMC, Telescopic sight

KBRA assigns ratings of ‘BBB- (sf)’ to the Series 2024-SAT1 Term Notes from FMC GMSR ISSUER TRUST, Freedom Mortgage Corporation’s (FMC) master trust issuer of notes backed by participation certificates evidencing participation interests in mortgage servicing rights (MSR) on loans underlying Ginnie Mae guaranteed mortgage backed securities.

Key Points: 
  • KBRA assigns ratings of ‘BBB- (sf)’ to the Series 2024-SAT1 Term Notes from FMC GMSR ISSUER TRUST, Freedom Mortgage Corporation’s (FMC) master trust issuer of notes backed by participation certificates evidencing participation interests in mortgage servicing rights (MSR) on loans underlying Ginnie Mae guaranteed mortgage backed securities.
  • KBRA’s rating on the Series 2024-SAT1 Term Notes is primarily driven by the credit rating of Freedom Mortgage Corporation (“FMC”) (KBRA Rating: BB+/Stable) as repurchase obligor under a repo facility in support of the Issuer’s mortgage servicing rights (“MSRs”) granted by Ginnie Mae to FMC, with certain transaction features, such as (i) the alignment of interest between FMC, Ginnie Mae, and the VFN and term noteholders, (ii) the potential ability to transfer servicing in the event of a FMC default, (iii) the existence of the Ginnie Mae Acknowledgment Agreement, and (iv) the requirement that the borrowing base be trued up monthly, providing slight uplift on the rating of the notes.
  • To access rating and relevant documents, click here .
  • Click here to view the report.

KBRA Assigns Preliminary Ratings to FMC GMSR ISSUER TRUST, MSR COLLATERALIZED NOTES, Series 2024-SAT1

Retrieved on: 
Tuesday, March 19, 2024
Banking, Professional Services, Finance, MSR, Note, VFN, TRUST, KBRA, Government National Mortgage Association, FMC, Telescopic sight

KBRA assigns preliminary ratings of ‘BBB- (sf)’ to the Series 2024-SAT1 Term Notes from FMC GMSR ISSUER TRUST, Freedom Mortgage Corporation’s (FMC) master trust issuer of notes backed by a participation certificates evidencing participation interests in mortgage servicing rights (MSR) on loans underlying Ginnie Mae guaranteed mortgage backed securities.

Key Points: 
  • KBRA assigns preliminary ratings of ‘BBB- (sf)’ to the Series 2024-SAT1 Term Notes from FMC GMSR ISSUER TRUST, Freedom Mortgage Corporation’s (FMC) master trust issuer of notes backed by a participation certificates evidencing participation interests in mortgage servicing rights (MSR) on loans underlying Ginnie Mae guaranteed mortgage backed securities.
  • KBRA’s rating on the Series 2024-SAT1 Term Notes is primarily driven by the credit rating of Freedom Mortgage Corporation (“FMC”) (KBRA Rating: BB+/Stable) as repurchase obligor under a repo facility in support of the Issuer’s mortgage servicing rights (“MSRs”) granted by Ginnie Mae to FMC, with certain transaction features, such as (i) the alignment of interest between FMC, Ginnie Mae, and the VFN and term noteholders, (ii) the potential ability to transfer servicing in the event of a FMC default, (iii) the existence of the Ginnie Mae Acknowledgment Agreement, and (iv) the requirement that the borrowing base be trued up monthly, providing slight uplift on the rating of the notes.
  • To access rating and relevant documents, click here .
  • Click here to view the report.

KBRA Assigns Ratings to PNMAC GMSR ISSUER TRUST MSR COLLATERALIZED NOTES, Series 2024-GT1

Retrieved on: 
Thursday, February 29, 2024
Banking, Professional Services, Finance, TRUST, Advance, Note, PennyMac Financial Services, PLS, Government National Mortgage Association, Risk, MSR, KBRA, Microsoft

KBRA assigns ratings of ‘BBB (sf)’ to the Series 2024-GT1 Term Notes from PNMAC GMSR ISSUER TRUST, PennyMac Loan Services, LLC’s (PLS) master trust issuer of notes backed by participation certificates evidencing participation interest in mortgage servicing rights (MSR) on loans underlying Ginnie Mae guaranteed mortgage backed securities.

Key Points: 
  • KBRA assigns ratings of ‘BBB (sf)’ to the Series 2024-GT1 Term Notes from PNMAC GMSR ISSUER TRUST, PennyMac Loan Services, LLC’s (PLS) master trust issuer of notes backed by participation certificates evidencing participation interest in mortgage servicing rights (MSR) on loans underlying Ginnie Mae guaranteed mortgage backed securities.
  • KBRA’s rating on the notes is primarily dependent upon the rating of Private National Mortgage Acceptance Company, LLC (PNMAC), as repurchase guarantor.
  • The notes are not a direct debt obligation of PLS or its affiliates; however, PNMAC’s guarantee of PLS’s obligations under the PC Repurchase Agreement creates a significant indirect dependency on PNMAC to make payments on the rated notes.
  • To access rating and relevant documents, click here.

KBRA Assigns Preliminary Ratings to PNMAC GMSR ISSUER TRUST MSR COLLATERALIZED NOTES, Series 2024-GT1

Retrieved on: 
Friday, February 23, 2024
Professional Services, Finance, TRUST, Advance, Note, PennyMac Financial Services, PLS, Government National Mortgage Association, Risk, MSR, KBRA, Microsoft

KBRA assigns ratings of ‘BBB (sf)’ to the Series 2024-GT1 Term Notes from PNMAC GMSR ISSUER TRUST, PennyMac Loan Services, LLC’s (PLS) master trust issuer of notes backed by participation certificates evidencing participation interest in mortgage servicing rights (MSR) on loans underlying Ginnie Mae guaranteed mortgage backed securities.

Key Points: 
  • KBRA assigns ratings of ‘BBB (sf)’ to the Series 2024-GT1 Term Notes from PNMAC GMSR ISSUER TRUST, PennyMac Loan Services, LLC’s (PLS) master trust issuer of notes backed by participation certificates evidencing participation interest in mortgage servicing rights (MSR) on loans underlying Ginnie Mae guaranteed mortgage backed securities.
  • KBRA’s rating on the notes is primarily dependent upon the rating of Private National Mortgage Acceptance Company, LLC (PNMAC), as repurchase guarantor.
  • The notes are not a direct debt obligation of PLS or its affiliates; however, PNMAC’s guarantee of PLS’s obligations under the PC Repurchase Agreement creates a significant indirect dependency on PNMAC to make payments on the rated notes.
  • To access rating and relevant documents, click here.

Planet Financial Group Continues Steady Growth in 2023

Retrieved on: 
Tuesday, January 30, 2024
SFR, Social, National Forest Foundation, Biophysical environment, PMG, ESG, Government National Mortgage Association, USDA, Correspondent, Tree, Renting, Synkronized

MERIDEN, Conn., Jan. 30, 2024 /PRNewswire/ -- During 2023, Planet Financial Group, LLC, parent of national mortgage lender and servicer Planet Home Lending, LLC and  Planet Management Group, LLC, reported consistent performance in origination, servicing and asset management.

Key Points: 
  • MERIDEN, Conn., Jan. 30, 2024 /PRNewswire/ -- During 2023, Planet Financial Group, LLC , parent of national mortgage lender and servicer Planet Home Lending, LLC and Planet Management Group, LLC , reported consistent performance in origination, servicing and asset management.
  • Planet Financial Group's commitment to corporate excellence and responsibility further solidified its position as an industry leader.
  • In 2023, Planet also expanded its commercial servicing platform to include sub-servicing for private clients.
  • Correspondent volume held steady in 2023, ending at $23.78 billion, off a scant 1% from 2022 volume of $24.10 billion.

Webcast Alert: Cavco Industries, Inc. Announces Fiscal 2024 Third Quarter Earnings Release and Conference Call Webcast

Retrieved on: 
Wednesday, January 24, 2024
Palm Harbor, Florida, Insurance, Fannie Mae, Freddie Mac, Government National Mortgage Association, Solitaire, PIN, Recreational vehicle, Commodore

PHOENIX, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Cavco Industries, Inc. (Nasdaq: CVCO) will release earnings for the third quarter ended December 30, 2023 on Thursday, February 1, 2024 after the close of market.

Key Points: 
  • PHOENIX, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Cavco Industries, Inc. (Nasdaq: CVCO) will release earnings for the third quarter ended December 30, 2023 on Thursday, February 1, 2024 after the close of market.
  • Senior management will discuss the results in a live webcast the following day, Friday, February 2, 2024 at 1:00 p.m. Eastern Time.
  • Listen via Telephone: To participate in the call, please register here to receive the dial-in number and your unique PIN.
  • If you are unable to participate during the live webcast, the call will be available for 90 days on https://investor.cavco.com/ .

Leading the Charge: AmeriCatalyst CEO Toni Moss Announces 'Going to Extremes' Leadership Summit to Proactively Address Climate-Related Risks to the US Housing and Finance Industry

Retrieved on: 
Thursday, December 7, 2023
Public policy, Motivation, Risk, Government National Mortgage Association, Housing, Insurance, Climate change, Convention center, Investment, CoreLogic, Risk management

‘Going to Extremes’ seeks to catalyze a proactive, industry-wide approach to navigating the impact of extreme climate in the US housing and finance industry.

Key Points: 
  • ‘Going to Extremes’ seeks to catalyze a proactive, industry-wide approach to navigating the impact of extreme climate in the US housing and finance industry.
  • AUSTIN, Texas and WASHINGTON, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Toni Moss, CEO of AmeriCatalyst LLC (“AmeriCatalyst”), today announced ‘Going to Extremes,’ a collaborative leadership summit to proactively address the implications of climate change on the US housing and finance ecosphere.
  • AmeriCatalyst will publish key insights and solutions gleaned during the event in a ‘blueprint for action’.
  • The invitation-only summit brings together CEOs and government leaders throughout the US housing industry, including housing finance, homebuilders, real estate, single family rental, and housing-related securities and investments.

Building on Decades of Success, Incenter Mortgage Advisors Expands Capital Markets and Advisory Services

Retrieved on: 
Thursday, December 7, 2023
Consulting, Data Analytics, Professional Services, Finance, J. B. Long, Government National Mortgage Association, Dislocation, MSR, KPI-driven code analysis, IMA, Corporation, CGO, Microsoft, Risk management, Commercial, Financial services, Real estate

Incenter Mortgage Advisors (IMA) today announced a rebranding to Incenter Capital Advisors , as it expands its offerings to include a broader set of capital markets services.

Key Points: 
  • Incenter Mortgage Advisors (IMA) today announced a rebranding to Incenter Capital Advisors , as it expands its offerings to include a broader set of capital markets services.
  • “By broadening its services, Incenter Capital Advisors is helping financial institutions to differentiate themselves in all market conditions.
  • “The expansion of Incenter Capital Advisors provides our clients with a new competitive advantage,” said Bruno Pasceri, President of parent company Incenter Lender Services.
  • Specialty Solutions: Reverse Mortgage, eMSR Exchange™, Lending as a Service, Mortgage Servicing Rights, depository balance sheet solutions, and due diligence services.

MeridianLink Product Innovator Named as National Mortgage Professional 40 Under 40 Winner

Retrieved on: 
Wednesday, December 6, 2023
Professional Services, Technology, Residential Building & Real Estate, Software, Finance, Construction & Property, Banking, NYSE, NMP, Wieczorek, API, Government National Mortgage Association, POS, HMDA, TPO, Surveying, Real estate, LOS

MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies, today announced that its director of product management for MeridianLink® Mortgage, David Wieczorek, has been named among the National Mortgage Professional (NMP) 40 Under 40 award recipients.

Key Points: 
  • MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies, today announced that its director of product management for MeridianLink® Mortgage, David Wieczorek, has been named among the National Mortgage Professional (NMP) 40 Under 40 award recipients.
  • “In every profession, the future is written by the next generation as they bring fresh perspectives and new energy,” said Vincent Valvo, CEO and editor-in-chief of National Mortgage Professional.
  • Congratulations to our 40 Under 40 winners.”
    Wieczorek has spent the latter half of his 16-year MeridianLink tenure leading the mortgage solutions division as its director of product.
  • MeridianLink Mortgage is designed to streamline the mortgage origination process at every step, helping lenders reduce costs and decrease their time to close.

Wolters Kluwer Expert Cites Preparation as Key to Compliance for Modernized Community Reinvestment Act

Retrieved on: 
Tuesday, November 21, 2023
Consulting, Data Management, Banking, Accounting, Technology, Professional Services, Business, Other Technology, Software, Other Professional Services, Finance, American Business Media, Burniston, Risk management, Register, Community Reinvestment Act, Senior advisor, Community, Government National Mortgage Association, Federal Register, CT Corporation, Wolters, FCC, CRA, Financial adviser

But with input incorporated into the regulations from a range of stakeholders including federal agencies, industry and community leaders, complying with the new CRA requirements will require significant adaptation, according to expert commentary by Wolters Kluwer Compliance Solutions.

Key Points: 
  • But with input incorporated into the regulations from a range of stakeholders including federal agencies, industry and community leaders, complying with the new CRA requirements will require significant adaptation, according to expert commentary by Wolters Kluwer Compliance Solutions.
  • “Every bank is going to be touched by this in some way, no matter the size of the bank.
  • This changes the status quo for everybody,” said Timothy Burniston , Senior Advisor, Regulatory Strategy at Wolters Kluwer Compliance Solutions.
  • Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks, credit unions, insurers and securities firms.