RMBS

GCM Grosvenor Expands Credit Team with Two New Hires

Retrieved on: 
Thursday, March 28, 2024
RMBS, CLO, Structuring, Knowledge, Blue, Head, Risk assessment, Investment, CDO, GCM, GCMG, GCM Grosvenor, The Carlyle Group, Financial services

These strategic hires underscore GCM Grosvenor's commitment to providing world class credit investment solutions.

Key Points: 
  • These strategic hires underscore GCM Grosvenor's commitment to providing world class credit investment solutions.
  • GCM Grosvenor's credit team leverages its extensive expertise to invest across the entire credit liquidity spectrum in direct, fund, co-investment and secondary investments.
  • Before joining GCM Grosvenor, Ingles held senior positions at The Carlyle Group and PointState Capital, where he managed credit portfolios across various sectors.
  • "GCM Grosvenor is delighted to welcome Brandon Cahill and Scott Ingles to our credit team," said Fred Pollock, Chief Investment Officer of GCM Grosvenor.

Rambus to Announce First Quarter Fiscal Year 2024 Results

Retrieved on: 
Monday, April 8, 2024
Software, Networks, Internet, Data Management, Technology, Apps, Applications, Mobile, Wireless, Security, RMBS, ID, Webcast, Inc., Silicon, Rambus

Rambus Inc. (Nasdaq: RMBS), a premier chip and silicon IP provider making data faster and safer, today announced that it will hold a conference call on Monday, April 29, 2024, at 2:00 p.m. Pacific Time to discuss its first quarter fiscal year 2024 results.

Key Points: 
  • Rambus Inc. (Nasdaq: RMBS), a premier chip and silicon IP provider making data faster and safer, today announced that it will hold a conference call on Monday, April 29, 2024, at 2:00 p.m. Pacific Time to discuss its first quarter fiscal year 2024 results.
  • This call will be webcast and can be accessed via Rambus' website at investor.rambus.com .
  • A replay will be available following the call on the Rambus Investor Relations website or for one week at the following numbers: (866) 813-9403 (domestic) or (+1) 929-458-6194 (international) with ID# 691469.

KBRA Assigns Preliminary Ratings to Verus Securitization Trust 2024-3 (VERUS 2024-3)

Retrieved on: 
Monday, April 8, 2024
Professional Services, Finance, RMBS, LTV, CLTV, Documentation, KBRA, Telescopic sight

KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Verus Securitization Trust 2024-3 (VERUS 2024-3), a $688.9 million non-prime RMBS transaction.

Key Points: 
  • KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Verus Securitization Trust 2024-3 (VERUS 2024-3), a $688.9 million non-prime RMBS transaction.
  • The underlying collateral, comprising 1,346 residential mortgages, is characterized by a significant concentration of loans underwritten using alternative income documentation.
  • Borrowers in the subject pool possess a non-zero WA original credit score of 735 and exhibit moderate equity in each mortgaged property, with an original combined LTV (CLTV) ratio of 70.9%.
  • Most of the loans are classified as non-qualified mortgages (Non-QM) (39.5%) or exempt (40.5%) from the Ability-to-Repay/Qualified Mortgage (ATR/QM) rule due to being originated for non-consumer loan purposes.

Unlock Technologies and Saluda Grade Announce Close of Second Rated Home Equity Agreement Securitization

Retrieved on: 
Friday, April 5, 2024
Saluda Grade, RMBS, Jefferies Financial Group, Insurance, HEA, Texas Capital Bank, Barclays, Sale, BBB, Security (finance)

NEW YORK, April 5, 2024 /PRNewswire-PRWeb/ -- Unlock Technologies (Unlock) a leading home equity investment technology company, and Saluda Grade, a private alternative real estate investment firm, have closed its second rated home equity agreement (HEA) securitization.  

Key Points: 
  • NEW YORK, April 5, 2024 /PRNewswire-PRWeb/ -- Unlock Technologies (Unlock) a leading home equity investment technology company, and Saluda Grade, a private alternative real estate investment firm, have closed its second rated home equity agreement (HEA) securitization.
  • This second rated securitization is further evidence of the home equity agreement becoming a mainstream asset class.
  • In the securitization, Saluda Grade placed $197 million of notes, with the deal oversubscribed.
  • "This second rated securitization is further evidence of the home equity agreement becoming a mainstream asset class," he says.

KBRA Releases Research – European Securitisation: Positive Trend Continues

Retrieved on: 
Thursday, April 4, 2024
Banking, Professional Services, Finance, RMBS, CLO, KBRA, Q2, Mobile phone

KBRA UK (KBRA) releases a report on the European securitisation markets.

Key Points: 
  • KBRA UK (KBRA) releases a report on the European securitisation markets.
  • European securitisation markets recorded a strong start to the year as prime UK residential mortgage-backed securities (RMBS) issuers provided a positive jump in issuance with their return to market.
  • Newly circulated transaction volumes outpace the prior year’s first quarter, with EUR29.5 billion in Q1 2024 versus EUR23.7 billion in Q1 2023.
  • CLO volumes have returned, with EUR11.3 billion in Q1 2024 versus EUR6.7 billion in Q1 2023.

Chimera Declares First Quarter 2024 Common Stock Dividends

Retrieved on: 
Thursday, March 28, 2024
REIT, Finance, Banking, Professional Services, Construction & Property, RMBS, Trust, Coronavirus, Materiality, Classification, Security (finance), Disclosure, Risk, Investment, Annual report, ABS

The Board of Directors of Chimera Investment Corporation announced the declaration of its first quarter cash dividend of $0.11 per common share.

Key Points: 
  • The Board of Directors of Chimera Investment Corporation announced the declaration of its first quarter cash dividend of $0.11 per common share.
  • The dividend is payable April 30, 2024 to common stockholders of record on April 8, 2024.
  • The ex-dividend date is April 5, 2024.
  • All subsequent written and oral forward-looking statements concerning Chimera or matters attributable to Chimera or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.

Two Harbors Investment Corp. Announces First Quarter 2024 Common and Preferred Stock Dividends

Retrieved on: 
Wednesday, March 20, 2024
Construction & Property, Finance, Asset Management, Banking, Professional Services, REIT, Other Construction & Property, Residential Building & Real Estate, RMBS, MSR, Trust, Security (finance), Utica Avenue, Suite, Harbor, Person

(NYSE: TWO), an MSR + Agency RMBS real estate investment trust, today declared a dividend of $0.45 per share of common stock for the first quarter of 2024.

Key Points: 
  • (NYSE: TWO), an MSR + Agency RMBS real estate investment trust, today declared a dividend of $0.45 per share of common stock for the first quarter of 2024.
  • The first quarter dividend is payable on April 29, 2024 to common stockholders of record at the close of business on April 4, 2024.
  • Two Harbors also declared today the following preferred stock dividends:
    a dividend of $0.50781 per share of the 8.125% Series A Cumulative Redeemable Preferred Stock;
    a dividend of $0.47656 per share of the 7.625% Series B Cumulative Redeemable Preferred Stock; and
    a dividend of $0.45313 per share of the 7.25% Series C Cumulative Redeemable Preferred Stock.
  • The Series A, Series B and Series C preferred dividends are payable on April 29, 2024 to the applicable preferred stockholders of record at the close of business on April 12, 2024.

Orchid Island Capital Announces March 2024 Monthly Dividend and February 29, 2024 RMBS Portfolio Characteristics

Retrieved on: 
Wednesday, March 13, 2024
Professional Services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, REIT, RMBS, Trust

Orchid Island Capital, Inc. (the “Company”) (NYSE: ORC) announced today that the Board of Directors of the Company declared a monthly cash dividend for the month of March 2024.

Key Points: 
  • Orchid Island Capital, Inc. (the “Company”) (NYSE: ORC) announced today that the Board of Directors of the Company declared a monthly cash dividend for the month of March 2024.
  • The dividend of $0.12 per share will be paid April 26, 2024 to holders of record of the Company’s common stock on March 28, 2024, with an ex-dividend date of March 27, 2024.
  • The Company plans on announcing its next common stock dividend on April 10, 2024.
  • The Company intends to make regular monthly cash distributions to its holders of common stock.

Cherry Hill Mortgage Investment Corporation Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Thursday, March 7, 2024
Professional Services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, REIT, Banking, Quarter, Investment, Partnership, Highlight, EAD, GAAP, IRS, MSR, Treasury, RMBS, TBA, Holding company

The RMBS portfolio had a book value of approximately $1.0 billion and carrying value of approximately $1.0 billion at quarter-end December 31, 2023.

Key Points: 
  • The RMBS portfolio had a book value of approximately $1.0 billion and carrying value of approximately $1.0 billion at quarter-end December 31, 2023.
  • As of December 31, 2023, Cherry Hill’s GAAP book value was $4.53 per diluted share, net of the fourth quarter dividend.
  • On December 8, 2023, the Board of Directors declared a quarterly dividend of $0.15 per share of common stock for the fourth quarter of 2023.
  • The following table provides a reconciliation of net income to EAD for the three months ended December 31, 2023 and September 30, 2023:

Ellington Residential Mortgage REIT Reports Fourth Quarter 2023 Results

Retrieved on: 
Wednesday, March 6, 2024
REIT, Finance, Professional Services, Commercial Building & Real Estate, Construction & Property, Investment, EARN, FDIC, MBS, CLO, Federal, Lisp (programming language), Treasury, RMBS, TBA, Security (finance)

Ellington Residential Mortgage REIT (NYSE: EARN) ("we", "us," or "our") today reported financial results for the quarter ended December 31, 2023.

Key Points: 
  • Ellington Residential Mortgage REIT (NYSE: EARN) ("we", "us," or "our") today reported financial results for the quarter ended December 31, 2023.
  • Book value of $7.32 per share as of December 31, 2023, which includes the effects of dividends of $0.24 per share for the quarter.
  • Net mortgage assets-to-equity ratio of 6.5:14 as of December 31, 2023.
  • The following table summarizes our portfolio of long investments(1) as of December 31, 2023 and September 30, 2023: