MBS

Steve Thomas Launches Minority-Owned National Correspondent Lender

Retrieved on: 
Wednesday, October 11, 2023

CHICAGO, Oct. 11, 2023 /PRNewswire/ -- Stephen Thomas announced the creation of FutureWave Finance, a minority-owned national correspondent lender, of which he is the President and CEO. The culmination of many years of planning, FutureWave partners with investors to serve the needs of lenders by offering a product suite intended to drive the future of the mortgage industry and expand home ownership across the country.

Key Points: 
  • CHICAGO, Oct. 11, 2023 /PRNewswire/ -- Stephen Thomas announced the creation of FutureWave Finance, a minority-owned national correspondent lender, of which he is the President and CEO.
  • FutureWave Finance is a trailblazing minority-owned, national correspondent lender.
  • Steve began his career as a Naval Officer in Pearl Harbor, Hawaii and is a 1992 Navy ROTC midshipman graduate of the University of Pennsylvania.
  • "I've known Steve Thomas a long time and if anyone can deliver the leadership and drive to change the mortgage industry and provide home ownership opportunities, it's Steve.

ICE and DeltaTerra Announce Joint Climate-Informed Credit Risk Analytics Solution for Mortgage-Backed Securities Investors

Retrieved on: 
Tuesday, September 19, 2023

The new joint offering integrates ICE’s Physical Climate Risk Data with DeltaTerra’s climate analytics, financial risk models, and market data to deliver risk impact estimates for investors in the residential and commercial mortgage-backed securities markets.

Key Points: 
  • The new joint offering integrates ICE’s Physical Climate Risk Data with DeltaTerra’s climate analytics, financial risk models, and market data to deliver risk impact estimates for investors in the residential and commercial mortgage-backed securities markets.
  • “Our climate risk data can help inform investment decisions of U.S. municipal and MBS market participants by providing transparency into securities climate risk exposure,” said Evan Kodra, Head of Sustainable Finance R&D at ICE.
  • The DeltaTerra Klima® suite of climate risk analysis tools provides metrics and reports for securitized credit investors who manage risk in some of the most climate-exposed capital markets, such as RMBS, CMBS, and credit risk transfer securities (CRT).
  • Together, ICE and DeltaTerra’s joint solution translates physical climate risk estimates into financial risk assessments, including asset price depreciation risk and default risk for mortgage-backed securities.

Saudi reforms are softening Islam's role, but critics warn the kingdom will still take a hard line against dissent

Retrieved on: 
Tuesday, September 5, 2023

For decades, Saudi kings provided support to religious scholars and institutions that advocated an austere form of Sunni Islam known as Wahhabism.

Key Points: 
  • For decades, Saudi kings provided support to religious scholars and institutions that advocated an austere form of Sunni Islam known as Wahhabism.
  • The kingdom enforced strict codes of morality, placing restrictions on the rights of women and religious minorities, among others.
  • As a scholar who studies interpretations of Islamic law to justify or contest militancy, I’ve followed these reforms closely.
  • In an interview broadcast widely throughout the kingdom, MBS chastised Wahhabi scholars, accusing some of falsifying Islamic doctrines.

Negotiating Wahhabism

    • The booming Saudi oil economy developed by Abdulaziz required his son, King Faisal, who ruled from 1964 to 1975, to reconsider the monarchy’s relationship with Wahhabism.
    • Abroad, Faisal’s scholars presented Wahhabism as an authentic Islamic alternative to the Cold War ideologies of the U.S. and USSR.
    • Wealthy Saudis, these Wahhabi scholars argued, had a religious duty to promote Wahhabism across the globe.

Resisting Wahhabism

    • King Khalid, who followed Faisal, continued to favor Wahhabi scholars, particularly while responding to two major challenges in 1979.
    • Afterward, Khalid agreed to elevate religious officials who affirmed the Islamic credentials of the monarchy.
    • One such Saudi who answered the call that year was Osama bin Laden, who would establish al-Qaida in 1988.
    • He has worked quickly to erase those accommodations and, like his grandfather, affirm the supremacy of the monarchy.

A ‘moderate Wahhabism’ for Saudi society?

    • Saudi Arabia has announced it will no longer fund mosques and Wahhabi educational institutions in other countries.
    • Saudi religious police, once tasked with upholding public morality, saw their powers curtailed.
    • In 2018, Jamal Khashoggi, a Saudi journalist, was killed following his calls for a continued voice for Islamist reformers in Saudi Arabia.
    • Al-Rasheed argues that the images of a new Saudi society conceal suppression of Saudi reformers.

Stephen Thomas Joins Board of Directors for Fay Financial

Retrieved on: 
Thursday, August 31, 2023

TAMPA, Fla., Aug. 31, 2023 /PRNewswire/ -- Fay Financial, an integrated real estate services provider, announced that Stephen Thomas has joined the Board of Directors for the firm. Thomas brings diversity and a wide range of industry experience to his new role with Fay.

Key Points: 
  • TAMPA, Fla., Aug. 31, 2023 /PRNewswire/ -- Fay Financial, an integrated real estate services provider, announced that Stephen Thomas has joined the Board of Directors for the firm.
  • Thomas brings diversity and a wide range of industry experience to his new role with Fay.
  • Stephen Thomas has joined the Board of Directors for Fay Financial, an integrated real estate services provider.
  • "Fay Financial has the vision, infrastructure, and executive team to accomplish some amazing things in this space and I look forward to working with the Board to do even more."

CDG and CheckPoint Solutions Announce Customer Self-Scheduling Integration

Retrieved on: 
Tuesday, August 29, 2023

CHAMPAIGN, Ill., Aug. 29, 2023 /PRNewswire/ -- Communications Data Group (CDG) is pleased to announce the completion of an enhanced integration between CDG's MBS consumer and enterprise billing and OSS solution and CheckPoint Solutions, which now supports customer self-scheduling during the sign-up process.

Key Points: 
  • CHAMPAIGN, Ill., Aug. 29, 2023 /PRNewswire/ -- Communications Data Group (CDG) is pleased to announce the completion of an enhanced integration between CDG's MBS consumer and enterprise billing and OSS solution and CheckPoint Solutions, which now supports customer self-scheduling during the sign-up process.
  • Touchless scheduling allows customers to quickly sign up for service without speaking to a customer service representative, benefiting both customers and service providers.
  • One MBS client had almost 1,000 new customer signups from Checkpoint in 30 days after launching the new integration.
  • "This enhanced integration is a perfect example of an empowerment tool," said Jacob Terstriep, Director of Operations at CheckPoint Solutions.

Freddie Mac Announces $628 million NPL Sale

Retrieved on: 
Tuesday, August 29, 2023

MCLEAN, Va., Aug. 29, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) announced today an approximate $628 million non-performing loan (NPL) sale, via an auction of seasoned non-performing residential first lien loans held in Freddie Mac’s mortgage-related investments portfolio.

Key Points: 
  • MCLEAN, Va., Aug. 29, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) announced today an approximate $628 million non-performing loan (NPL) sale, via an auction of seasoned non-performing residential first lien loans held in Freddie Mac’s mortgage-related investments portfolio.
  • To participate , all potential bidders must be approved by Freddie Mac and successfully complete a qualification package to access the secure data room containing information about the NPLs and to bid on the NPL pool(s).
  • Advisors to Freddie Mac on the transaction are Wells Fargo Securities, LLC and First Financial Network, Inc., a woman-owned business.
  • Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.

CDG's New Public Cloud OSS/BSS Integration with Calix Cloud Enables Broadband Services Providers to Delight Their Customers

Retrieved on: 
Monday, August 21, 2023

Utilizing the Calix Cloud Subscriber Services Application Programming Interface (API) and CDG's API, the integration enables the auto registration and visibility of new and updated MBS subscribers and billing information in Calix Support and Marketing Cloud.

Key Points: 
  • Utilizing the Calix Cloud Subscriber Services Application Programming Interface (API) and CDG's API, the integration enables the auto registration and visibility of new and updated MBS subscribers and billing information in Calix Support and Marketing Cloud.
  • The recently enhanced API improves automation and data accuracy and simplifies the creation and provisioning of subscriber broadband services for providers by reducing manual tasks.
  • "We are excited to expand our integration with Calix and committed to creating single-pane experiences for providers and subscribers across the Calix and CDG platforms," said Mike Chalk, CDG's VP of Product Development.
  • "CDG and Calix share a common mission to help empower our customers and the subscribers they serve," said Skip Hirvela, Vice President of Sales Partnerships at Calix.

Janus Henderson Investors to Offer Securitized Income Exchange Traded Fund

Retrieved on: 
Friday, August 18, 2023

The new actively managed ETF will complement the firm’s suite of securitized products, including Janus Henderson AAA CLO ETF (JAAA) and Janus Henderson Mortgage-Backed Securities ETF (JMBS) – the largest actively managed CLO and MBS ETF, respectively.

Key Points: 
  • The new actively managed ETF will complement the firm’s suite of securitized products, including Janus Henderson AAA CLO ETF (JAAA) and Janus Henderson Mortgage-Backed Securities ETF (JMBS) – the largest actively managed CLO and MBS ETF, respectively.
  • Along with Janus Henderson B-BBB CLO ETF (JBBB), this Fund helps round out our securitized suite of active ETFs to cover virtually the entire US investable securitized market.
  • The investment objective of the Fund will be to seek current income with a focus on preservation of capital.
  • If all approvals are granted, the Fund is expected to launch in early November 2023.

Sportradar Reports Strong Second Quarter 2023 Results

Retrieved on: 
Wednesday, August 9, 2023

ST. GALLEN, Switzerland, Aug. 09, 2023 (GLOBE NEWSWIRE) -- Sportradar Group AG (NASDAQ: SRAD) (“Sportradar” or the “Company”), a leading global sports technology company focused on creating immersive experiences for sports fans and bettors, today announced financial results for its second quarter ended June 30, 2023.

Key Points: 
  • Segment revenue in the second quarter of 2023 increased by 20% to €114.1 million compared with the second quarter of 2022.
  • Segment revenue in the second quarter of 2023 increased by 25% to €49.6 million compared with the second quarter of 2022.
  • Segment Adjusted EBITDA1 in the second quarter of 2023 increased 26% to €16.4 million compared with the second quarter of 2022.
  • Segment revenue in the second quarter of 2023 increased by 31% to €38.0 million compared with the second quarter of 2022.

Medalist Partners and Semper Capital Management Broaden Strategic Partnership

Retrieved on: 
Tuesday, August 8, 2023

Medalist Partners and Semper Capital Management have expanded their partnership in the structured credit space, with Medalist formally announcing plans to integrate the Semper Capital business onto its platform.

Key Points: 
  • Medalist Partners and Semper Capital Management have expanded their partnership in the structured credit space, with Medalist formally announcing plans to integrate the Semper Capital business onto its platform.
  • As part of this process, various Semper Capital investment and support personnel will join Medalist where they will manage their existing strategies with the enhanced resources of the Medalist platform, while continuing to leverage the robust investment process developed within Semper Capital over the past 30 years.
  • This transition builds upon the partnership established in 2022, providing significant investment and operational support to the Semper Capital team while further bolstering the breadth and scale of Medalist’s structured credit and private credit platform.
  • As part of the integration, Greg Parsons, Chief Executive Officer of Semper Capital, Thomas Mandel, Chief Investment Officer and Portfolio Manager of Semper Capital, and other senior Semper Capital professionals will join Medalist.