RMBS

Media Alert: Rambus to Announce Third Quarter Fiscal Year 2023 Results

Retrieved on: 
Wednesday, October 11, 2023
Semiconductor, Data Management, Security, Technology, Internet, Hardware, ID, Silicon, Rambus, Inc., Webcast, RMBS, Rambus Inc. v. Nvidia, Rare-earth element, Online shopping, Cryptocurrency

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 October 30, 2023, at 2:00 p.m. Pacific Time to discuss its third quarter fiscal year 2023 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 October 30, 2023, at 2:00 p.m. Pacific Time to discuss its third quarter fiscal year 2023 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# 195743.

Orchid Island Capital Announces Estimated Third Quarter 2023 Results, October 2023 Monthly Dividend and September 30, 2023 RMBS Portfolio Characteristics

Retrieved on: 
Wednesday, October 11, 2023
Other Professional Services, Construction & Property, Finance, Asset Management, Banking, Accounting, Professional Services, REIT, Trust, Bank statement, NYSE, RMBS, Life insurance, Real estate

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 October 2023.

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 October 2023.
  • The Company plans on announcing its next common stock dividend on November 15, 2023.
  • As of October 11, 2023 and September 30, 2023 the Company had 52,332,306 shares of common stock outstanding.
  • Details of the RMBS portfolio as of September 30, 2023 are presented below.

KBRA Assigns Preliminary Ratings to Verus Securitization Trust 2023-7 (VERUS 2023-7)

Retrieved on: 
Wednesday, October 4, 2023
Banking, Professional Services, Finance, KBRA, CLTV, LTV, RMBS, Documentation, WA, Commercial property, Telescopic sight

KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Verus Securitization Trust 2023-7 (VERUS 2023-7), a $669.2 million non-prime RMBS transaction.

Key Points: 
  • KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from Verus Securitization Trust 2023-7 (VERUS 2023-7), a $669.2 million non-prime RMBS transaction.
  • The underlying collateral, comprising 1,284 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 736 and exhibit moderate equity in each mortgaged property, with original combined LTV (CLTV) ratio of 70.4%.
  • To access ratings and relevant documents, click here .

KBRA Assigns Preliminary Ratings to New Residential Mortgage Trust 2023-NQM1 (NRMLT 2023-NQM1)

Retrieved on: 
Wednesday, September 27, 2023
Professional Services, Finance, KBRA, CLTV, LTV, RMBS, Documentation, WA, Telescopic sight

KBRA assigns preliminary ratings to six classes of mortgage-backed notes from New Residential Mortgage Loan Trust 2023-NQM1 (NRMLT 2023-NQM1), a $669.9 million non-prime RMBS transaction sponsored by Rithm Capital Corp. (formerly New Residential Investment Corp.).

Key Points: 
  • KBRA assigns preliminary ratings to six classes of mortgage-backed notes from New Residential Mortgage Loan Trust 2023-NQM1 (NRMLT 2023-NQM1), a $669.9 million non-prime RMBS transaction sponsored by Rithm Capital Corp. (formerly New Residential Investment Corp.).
  • The underlying collateral, comprising 1,521 residential mortgages, is characterized by a significant concentration of loans underwritten using alternative income documentation.
  • This analysis is further described in our U.S. RMBS Rating Methodology.
  • To access ratings and relevant documents, click here .

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

Retrieved on: 
Tuesday, September 19, 2023
Software, Professional Services, Fintech, Data Management, Sustainability, Technology, Environment, Data Analytics, Other Professional Services, Finance, Climate Change, Consulting, Sustainable finance, Insurance, MBS, ICE, Intercontinental, RMBS, Research, Science, Climate change, Intercontinental Exchange, Risk, CMBS, Climate, CRT, NYSE, Risk management

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.

Rambus Added to PHLX Semiconductor Sector Index (SOX)

Retrieved on: 
Monday, September 18, 2023
Software, Internet, Hardware, Data Management, Technology, Semiconductor, Mobile, Wireless, Security, Growth, Silicon, Rambus Inc. v. Nvidia, RMBS, Inc., PHLX Semiconductor Sector, PHLX, Rambus

Rambus Inc. (NASDAQ: RMBS ), a premier chip and silicon IP provider making data faster and safer, today announced the company has been added to the PHLX Semiconductor Sector Index℠ (SOX℠), effective September 18, 2023.

Key Points: 
  • Rambus Inc. (NASDAQ: RMBS ), a premier chip and silicon IP provider making data faster and safer, today announced the company has been added to the PHLX Semiconductor Sector Index℠ (SOX℠), effective September 18, 2023.
  • “We are very pleased to join other major semiconductor companies in the PHLX Semiconductor Sector Index on Nasdaq,” said Luc Seraphin, president and chief executive officer at Rambus.
  • I am very proud of the entire team for this accomplishment as we continue to execute on our strategy and drive the future growth of the company.”
    The PHLX Semiconductor Sector Index is a modified market capitalization-weighted index composed of the 30 largest eligible semiconductor companies listed in the U.S., ranked by market capitalization.
  • For a complete listing of companies view the PHLX Semiconductor Index .

KBRA Releases Research – UK Mortgage and Housing Market Trends

Retrieved on: 
Thursday, September 14, 2023
Banking, Professional Services, Insurance, Finance, KBRA, Housing, RMBS, House, BTL, Real estate

KBRA UK (KBRA) releases a report that explores the financing market for home purchases across the UK, as well as current challenges and trends in the region’s housing market.

Key Points: 
  • KBRA UK (KBRA) releases a report that explores the financing market for home purchases across the UK, as well as current challenges and trends in the region’s housing market.
  • Financing of the UK mortgage market is a competitive marketplace with many participants.
  • It has become an area of focus in recent years as interest rates rise and the cost of financing home purchases increases.
  • Mortgage lending has slowed as affordability has been strained and borrowers have expanded the duration of their initial interest rate fixed term.

Leading Commercial Litigation Partner Susan Shin Joins Hunton Andrews Kurth in New York

Retrieved on: 
Monday, September 11, 2023
LLP, Health, Arnold & Porter, Daniel Inouye, Chambers, Policy, Shin, The American Lawyer, RMBS, Multidistrict litigation, RICO, Lawyer, Publication, Rutgers University, MDL, Weil, Gotshal & Manges, District court, Chambers and Partners, Supreme court, The National Law Journal, Arnold, American Bar Association, Hague Convention, Columbia Law School, Tobacco, Real estate, Insurance

New York, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Susan L. Shin , a highly regarded and nationally recognized complex commercial litigation and trial attorney, has joined Hunton Andrews Kurth LLP as a partner in New York.

Key Points: 
  • New York, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Susan L. Shin , a highly regarded and nationally recognized complex commercial litigation and trial attorney, has joined Hunton Andrews Kurth LLP as a partner in New York.
  • Shin joins Hunton Andrews Kurth from Weil, Gotshal & Manges, LLP, where she was a partner in the complex litigation practice.
  • Since our founding in 1901, Hunton Andrews Kurth has been a business-focused firm, an approach that we bring to today’s litigation climate.
  • With lawyers in the United States, Asia, Europe and the Middle East, Hunton Andrews Kurth LLP serves clients across a broad range of complex transactional, litigation and regulatory matters.

KBRA Assigns Preliminary Ratings to GCAT 2023-NQM3 Trust

Retrieved on: 
Thursday, September 14, 2023
Professional Services, Finance, KBRA, CLTV, GCAT, LTV, WA, RMBS, Documentation, Credit, Telescopic sight

KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from GCAT 2023-NQM3 Trust, a $406.4 million non-prime RMBS transaction.

Key Points: 
  • KBRA assigns preliminary ratings to six classes of mortgage pass-through notes from GCAT 2023-NQM3 Trust, a $406.4 million non-prime RMBS transaction.
  • The underlying collateral, comprising 869 residential mortgages, is characterized by a significant concentration of loans underwritten using alternative income documentation.
  • This analysis is further described in our U.S. RMBS Rating Methodology.
  • To access ratings and relevant documents, click here .

KBRA Assigns Preliminary Ratings to Progress Residential 2023-SFR2

Retrieved on: 
Wednesday, September 13, 2023
Banking, Professional Services, Finance, Loss given default, Probability, PD, LGD, SFR, KBRA, RMBS, Progress, Microsoft, LTV, CMBS, CBSA, BPO, Renting, Property management, Telescopic sight

KBRA assigns preliminary ratings to five classes of Progress Residential 2023-SFR2 (Progress 2023-SFR2) single-family rental pass-through certificates.

Key Points: 
  • KBRA assigns preliminary ratings to five classes of Progress Residential 2023-SFR2 (Progress 2023-SFR2) single-family rental pass-through certificates.
  • The subject transaction will be the 28th KBRA-rated securitization issued by Progress Residential.
  • KBRA adjusted the BPOs, which yielded an aggregate value of $397.9 million, which represents a 7.5% haircut to the nominal BPO value.
  • To determine loss given default (LGD), KBRA assumes the underlying properties would be liquidated in the residential property market.