Real estate mortgage investment conduit

REMIC Creates 100K COVID-19 Relief Fund to Assist Students with Proctored Exam Fees During Pandemic

Retrieved on: 
Tuesday, May 12, 2020
Mortgage industry of the United States, United States housing bubble, Mortgage-backed security, Real estate mortgage investment conduit, Proctor, Pandemic, Games

"This step is vital to our students' ability to start their new careers," said REMIC President Joe White.

Key Points: 
  • "This step is vital to our students' ability to start their new careers," said REMIC President Joe White.
  • With over 2,000 students eligible to write final exams, REMIC has created the COVID-19 Relief Fund, covering 100% of the proctoring fee charged by Examity, to ensure that every REMIC student affected by the pandemic has access to this service.
  • "We pride ourselves on delivering fanatical service in our commitment to our students' success," said White.
  • For more information and updates on how REMIC is supporting its students, please visit REMIC's website at www.remic.ca/students-first
    SOURCE Real Estate and Mortgage Institute of Canada Inc.

REMIC To Resume Mortgage Agent Exams For Licensing Via Online Proctoring

Retrieved on: 
Tuesday, May 5, 2020
Mortgage industry of the United States, Mortgage-backed security, United States housing bubble, Real estate mortgage investment conduit, Loans, Mortgage loan, Finance, Money, Economy

As the leader in mortgage agent licensing courses in Ontario, REMIC is committed to providing its students with the safest options to complete their course in order to obtain their license.

Key Points: 
  • As the leader in mortgage agent licensing courses in Ontario, REMIC is committed to providing its students with the safest options to complete their course in order to obtain their license.
  • TORONTO, May 5, 2020 /CNW/ - REMIC has been working hard to find a solution for its thousands of students who qualify to write their mortgage agent licensing exam but are unable to do so due to in-person restrictions.
  • That solution must meet REMIC's rigorous standards of exam security and ensure the ongoing integrity of the educational component of the licensing process.
  • In March, REMIC replaced both weekly and weekend in class courses with live webinars for the protection of its students.

Two Harbors Investment Corp. Announces Sale of Portfolio of Non-Agency Securities

Retrieved on: 
Wednesday, March 25, 2020
Construction & Property, Professional services, REIT, Finance, Structured finance, Financial markets, Finance, United States housing bubble, Money, Mortgage industry of the United States, Residential mortgage-backed security, Mortgage-backed security, Mortgage loan, RMBS, Wall Street and the Financial Crisis: Anatomy of a Financial Collapse, Real estate mortgage investment conduit

Eliminating the risk of margin calls associated with the non-Agency residential mortgage-backed securities (RMBS) portfolio, which have been unusually significant in size in this volatile market environment.

Key Points: 
  • Eliminating the risk of margin calls associated with the non-Agency residential mortgage-backed securities (RMBS) portfolio, which have been unusually significant in size in this volatile market environment.
  • After giving effect to the sale, our portfolio consists primarily of Agency RMBS and mortgage servicing rights.
  • All subsequent written and oral forward looking statements concerning Two Harbors or matters attributable to Two Harbors or any person.
  • Two Harbors Investment Corp., a Maryland corporation, is a real estate investment trust that invests in residential mortgage-backed securities, mortgage servicing rights and other financial assets.

REMIC, Canada's Leading Provider of In-Class Mortgage and Online Life Insurance Education, Implements Live In-Class Streaming and Additional Measures in Response to Coronavirus (COVID-19) Pandemic

Retrieved on: 
Thursday, March 12, 2020
Economy, Mortgage industry of the United States, Finance, Mortgage-backed security, United States housing bubble, Money, Real estate mortgage investment conduit, Insurance

TORONTO, March 12, 2020 /CNW/ - The Real Estate and Mortgage Institute of Canada Inc. (REMIC), provider of both mortgage agent and life insurance courses for licensing, is announcing several measures in response to the Coronavirus (COVID-19) Pandemic.

Key Points: 
  • TORONTO, March 12, 2020 /CNW/ - The Real Estate and Mortgage Institute of Canada Inc. (REMIC), provider of both mortgage agent and life insurance courses for licensing, is announcing several measures in response to the Coronavirus (COVID-19) Pandemic.
  • REMIC will begin live streaming all in-class courses by March 23rd.
  • Students taking an in-class course wishing to stay at home will have access to the live class via the internet.
  • REMIC remains fully committed to providing its students a safe learning environment and looks forward to continuing to transform students into successful entrepreneurs.

Fannie Mae Prices $1.18 Billion Multifamily DUS REMIC (FNA 2020-M8) Under Its GeMS Program

Retrieved on: 
Wednesday, March 11, 2020
Mortgage industry of the United States, Economy of the United States, Fannie Mae, Real estate mortgage investment conduit, Fannie

WASHINGTON, March 11, 2020 /PRNewswire/ --Fannie Mae (OTCQB: FNMA) priced its third Multifamily DUS REMIC in 2020 totaling $1.18 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on March 10, 2020.

Key Points: 
  • WASHINGTON, March 11, 2020 /PRNewswire/ --Fannie Mae (OTCQB: FNMA) priced its third Multifamily DUS REMIC in 2020 totaling $1.18 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on March 10, 2020.
  • "In a week marked by contagion concerns, record low yields, and dislocation in certain markets, we have been pleased with the way that DUS and GeMS spreads have held."
  • said Dan Dresser, Senior Vice President, Multifamily Capital Markets & Pricing.
  • All classes of FNA 2020-M8 are guaranteed by Fannie Mae with respect to the full and timely payment of interest and principal.

Fannie Mae Prices $966 Million Connecticut Avenue Securities (CAS) Seasoned B-Tranche Deal

Retrieved on: 
Tuesday, March 3, 2020
Mortgage industry of the United States, Finance, United States housing bubble, Economy of the United States, Money, Fannie Mae, Insurance in the United States, Real estate mortgage investment conduit, Loans, National Association of Insurance Commissioners, Mortgage loan, NAIC

The National Association of Insurance Commissioners (NAIC) has applied its approved modeling process to all 2018 and 2019 CAS REMIC transactions.

Key Points: 
  • The National Association of Insurance Commissioners (NAIC) has applied its approved modeling process to all 2018 and 2019 CAS REMIC transactions.
  • In 2019, Fannie Mae requestedthe NAICStructured Securities Group (SSG) use the NAIC Approved Modeling Process to develop preliminary NAIC Designations and Breakpoints for a CAS REMIC transaction.
  • The amount of periodic principal and ultimate principal paid by Fannie Mae is determined by the performance of a large and diverse reference pool.
  • Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans.

Freddie Mac Prices $269 Million Multifamily K-Deal, K-J28

Retrieved on: 
Wednesday, February 19, 2020
Mortgage industry of the United States, Finance, Money, Economy of the United States, Freddie Mac, Mortgage loan, Real estate mortgage investment conduit, Mortgage-backed security

The K-J28 Certificates are backed by corresponding classes issued by the FREMF 2020-KJ28 Mortgage Trust (KJ28 Trust) and guaranteed by Freddie Mac.

Key Points: 
  • The K-J28 Certificates are backed by corresponding classes issued by the FREMF 2020-KJ28 Mortgage Trust (KJ28 Trust) and guaranteed by Freddie Mac.
  • Freddie Mac Multifamily is a leading issuer of agency-guaranteed structured multifamily securities.
  • This announcement is not an offer to sell any Freddie Mac securities.
  • Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.

Fannie Mae Prices $1.03 Billion Multifamily DUS REMIC (FNA 2020-M5) Under Its GeMS Program

Retrieved on: 
Friday, February 14, 2020
Mortgage industry of the United States, Economy of the United States, Fannie Mae, Real estate mortgage investment conduit, Fannie

WASHINGTON, Feb. 14, 2020 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) priced its second Multifamily DUS REMIC in 2020 totaling $1.03 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on February 13, 2020.

Key Points: 
  • WASHINGTON, Feb. 14, 2020 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) priced its second Multifamily DUS REMIC in 2020 totaling $1.03 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on February 13, 2020.
  • "We were pleased with the execution of the 2020-M5, our $1 billion February GeMS deal, given the low-yield rate environment and market volatility," said Dan Dresser, Senior Vice President, Multifamily Capital Markets & Pricing.
  • All classes of FNA 2020-M5 are guaranteed by Fannie Mae with respect to the full and timely payment of interest and principal.
  • The structure details for the multi-tranche offering can be found in the table below:

KBRA Assigns Preliminary Ratings to Connecticut Avenue Securities, Series 2020-R02 (CAS 2020-R02)

Retrieved on: 
Monday, February 3, 2020
Professional services, Finance, Finance, Money, Economy, Mortgage industry of the United States, Mortgage-backed security, United States housing bubble, Mortgage, Real estate mortgage investment conduit, Loans, Kroll Bond Rating Agency, Subprime lending, Credit risk

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to 57 classes from Connecticut Avenue Securities, Series 2020-R02 (CAS 2020-R02), a credit risk sharing transaction structured as a real estate mortgage investment conduit (REMIC) under the CAS shelf.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to 57 classes from Connecticut Avenue Securities, Series 2020-R02 (CAS 2020-R02), a credit risk sharing transaction structured as a real estate mortgage investment conduit (REMIC) under the CAS shelf.
  • The CAS 2020-R02 Reference Pool consists of 110,537 residential mortgage loans with an aggregate cut-off balance of approximately $29.1 billion.
  • The loans in the Reference Pool (Reference Obligations) are fully documented, fully amortizing, fixed-rate mortgages (FRMs) of prime quality.
  • The borrowers in the Reference Pool have a WA original credit score of 743 and a WA debt-to-income (DTI) ratio of 37.6%.

Ellington Residential Mortgage REIT Announces the Income Tax Treatment of its 2019 Distributions

Retrieved on: 
Thursday, January 30, 2020
Residential Building & Real Estate, Construction & Property, REIT, Finance, United States housing bubble, Economy, Money, Real estate investment trust, Mortgage-backed security, Mortgage loan, Dividend, Real estate investing, Real estate mortgage investment conduit, Arlington Asset Investment

As set forth above, all of the ordinary dividends deemed paid in 2019 are considered qualified REIT dividends for the purpose of Section 199A of the Code.

Key Points: 
  • As set forth above, all of the ordinary dividends deemed paid in 2019 are considered qualified REIT dividends for the purpose of Section 199A of the Code.
  • Further, no portion of the Company's 2019 distributions is expected to consist of unrelated business taxable income (UBTI), which is subject to special tax reporting for certain tax exempt investors, or is expected to consist of excess inclusion income.
  • 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.