RPL | Jotup

Freddie Mac Announces $120 Million Non-Performing Loan Sale

Retrieved on:

Wednesday, March 6, 2024

Transfer, OTCQB, SLST, EXPO, Sale, MBS, FMCC, SPO, RPL, Organization, Freddie Mac, BofA Securities, Economics, Consumer, Minority, Housing, NPL, Auction

MCLEAN, Va., March 06, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) announced today it will offer approximately $120 million in non-performing loans (NPL) for sale via auction.

Key Points:

MCLEAN, Va., March 06, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) announced today it will offer approximately $120 million in non-performing loans (NPL) for sale via auction.
Advisors to Freddie Mac on the transaction are BofA Securities, Inc. and First Financial Network, Inc., a woman-owned business.
Freddie Mac’s seasoned loan offerings focus on reducing less-liquid assets in the company’s mortgage-related investments portfolio in an economically sensible way.
Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.

Cummins announces innovative next generation X15 diesel engine, part of Cummins HELM™ 15-liter fuel agnostic platform, launching in North America to meet aligned 2027 regulations

Retrieved on:

Thursday, February 29, 2024

As the next product in the Cummins HELM™ 15-liter fuel agnostic platform, the diesel X15 will be compliant with U.S. EPA and CARB 2027 aligned regulations at launch.

Key Points:

As the next product in the Cummins HELM™ 15-liter fuel agnostic platform, the diesel X15 will be compliant with U.S. EPA and CARB 2027 aligned regulations at launch.
The next generation X15 diesel engine in North America will serve the heavy-duty on-highway market.
The next generation X15 is the next evolution of technology, truly proving to the world that we never stop innovating,” said José Samperio, Vice President, North America On-Highway at Cummins.
This next-generation engine is designed to have the capability to meet future emissions regulations beyond 2027 without the need for significant architecture changes.

Redwood Trust Reports Fourth Quarter 2023 Financial Results

Retrieved on:

Tuesday, February 20, 2024

Redwood Trust, Inc. (NYSE:RWT; "Redwood", the "Company", "we" or "our"), a leader in expanding access to housing for homebuyers and renters, today reported its financial results for the quarter ended December 31, 2023.

Key Points:

Redwood Trust, Inc. (NYSE:RWT; "Redwood", the "Company", "we" or "our"), a leader in expanding access to housing for homebuyers and renters, today reported its financial results for the quarter ended December 31, 2023.
Prior to the fourth quarter of 2023, the Residential Consumer Mortgage Banking segment was named Residential Mortgage Banking and the Residential Investor Mortgage Banking segment was named Business Purpose Mortgage Banking.
A further discussion of Redwood's business and financial results is included in the fourth quarter 2023 Shareholder Letter and Redwood Review which are available under "Financial Info" within the Investor Relations section of the Company’s website at redwoodtrust.com/investor-relations.
Redwood will host an earnings call today, February 20, 2024, at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time to discuss its fourth quarter 2023 financial results.

KBRA Releases Research – 2024 European Structured Finance Sector Outlook: Turbulence Ahead

Retrieved on:

Wednesday, December 6, 2023

Banking, Professional Services, Finance, Bank of England, KBRA, YTD, BTL, European Central Bank, CMBS, CLO, Unemployment, RMBS, Bank, RPL, Central bank

KBRA Europe releases its 2024 European Structured Finance Sector Outlook, examining key trends from 2024 and providing forecasts for the year ahead.

Key Points:

KBRA Europe releases its 2024 European Structured Finance Sector Outlook, examining key trends from 2024 and providing forecasts for the year ahead.
Many key elements are improving each day, with inflation rates slowing and unemployment remaining low, but many other signals suggest a slowdown ahead.
Next year looks to be a bumpy ride as central bankers and governments navigate the coming turbulence.
For European securitisation markets, continued collateral performance deterioration is likely in 2024 as borrowers in some sectors begin to feel the impact of current conditions.

Great Ajax Corp. Announces Results for the Quarter Ended September 30, 2023; Provides Strategic Update

Retrieved on:

Thursday, November 2, 2023

We consider Operating loss/income to provide a useful measure for comparing the results of our ongoing operations over multiple quarters.

Key Points:

We consider Operating loss/income to provide a useful measure for comparing the results of our ongoing operations over multiple quarters.
Our net interest income for the quarter ended September 30, 2023, excluding any adjustment for expected credit losses was $3.0 million, a decrease of $0.3 million over the prior quarter.
We recorded $0.2 million in impairment on our REO held-for-sale portfolio in other expense for the quarter ended September 30, 2023.
These loans were acquired and included on our consolidated balance sheet for a weighted average of 56 days of the quarter.

Redwood Trust Reports Third Quarter 2023 Financial Results

Retrieved on:

Monday, October 30, 2023

Redwood Trust, Inc. (NYSE:RWT; "Redwood" or the "Company"), a leader in expanding access to housing for homebuyers and renters, today reported its financial results for the quarter ended September 30, 2023.

Key Points:

Redwood Trust, Inc. (NYSE:RWT; "Redwood" or the "Company"), a leader in expanding access to housing for homebuyers and renters, today reported its financial results for the quarter ended September 30, 2023.
Importantly, despite choppy markets, we were successful during the quarter efficiently securitizing and selling our production across both of our operating businesses.
A further discussion of Redwood's business and financial results is included in the third quarter 2023 Shareholder Letter and Redwood Review which are available under "Financial Info" within the Investor Relations section of the Company’s website at redwoodtrust.com/investor-relations.
Redwood will host an earnings call today, October 30, 2023, at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time to discuss its third quarter 2023 financial results.

Freddie Mac Sells $19.1 Million of NPLs in Extended Timeline Pool

Retrieved on:

Tuesday, October 24, 2023

Transfer, MBS, Consumer, NPL, Freddie Mac, Housing, SLST, Wells Fargo, RPL, Bank

Advisors to Freddie Mac on the transaction are Wells Fargo Securities, LLC and First Financial Network, Inc., a woman-owned business.

Key Points:

Advisors to Freddie Mac on the transaction are Wells Fargo Securities, LLC and First Financial Network, Inc., a woman-owned business.
Freddie Mac’s seasoned loan offerings focus on reducing less-liquid assets in the company’s mortgage-related investments portfolio in an economically sensible way.
This includes sales of NPLs, securitizations of re-performing loans (RPLs) and structured RPL transactions.
Additional information about the company's seasoned loan offerings can be found at:
Freddie Mac’s mission is to make home possible for families across the nation.

Freddie Mac Prices Approximately $309.9 Million SLST Securitization

Retrieved on:

Wednesday, October 18, 2023

Transfer, Security (finance), Housing, MBS, FMCC, Freddie Mac, SLST, OTCQB, BofA Securities, Risk, RPL, Consumer, NPL, Exchange, Bank

MCLEAN, Va., Oct. 18, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced the pricing of the Freddie Mac Seasoned Loans Structured Transaction Trust (SLST) Series 2023-1, a securitization of approximately $309.9 million including both guaranteed senior and non-guaranteed subordinate securities backed by a pool of seasoned residential mortgage loans.

Key Points:

MCLEAN, Va., Oct. 18, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced the pricing of the Freddie Mac Seasoned Loans Structured Transaction Trust (SLST) Series 2023-1, a securitization of approximately $309.9 million including both guaranteed senior and non-guaranteed subordinate securities backed by a pool of seasoned residential mortgage loans.
The SLST program is a fundamental part of Freddie Mac's seasoned loan offerings which reduce less-liquid assets in its mortgage-related investments portfolio and shed credit and market risk via economically reasonable transactions.
The transaction includes approximately $286.7 million in guaranteed senior certificates and approximately $23.2 million in non-guaranteed subordinate certificates.
Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.

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.

Ellington Financial and Great Ajax Corp. Announce Definitive Merger Agreement

Retrieved on:

Monday, July 3, 2023

Ellington Financial Inc. (NYSE: EFC) (“Ellington Financial”), a real estate investment trust investing in a diverse array of financial assets including residential and commercial mortgage loans, and Great Ajax Corp. (NYSE: AJX) (“Great Ajax”), a real estate investment trust that invests primarily in residential mortgage loans, announced today that they have entered into a definitive merger agreement pursuant to which Ellington Financial will acquire Great Ajax.

Key Points:

Ellington Financial Inc. (NYSE: EFC) (“Ellington Financial”), a real estate investment trust investing in a diverse array of financial assets including residential and commercial mortgage loans, and Great Ajax Corp. (NYSE: AJX) (“Great Ajax”), a real estate investment trust that invests primarily in residential mortgage loans, announced today that they have entered into a definitive merger agreement pursuant to which Ellington Financial will acquire Great Ajax.
Strong Financial Rationale: Ellington Financial expects to rotate out of selected lower-yielding Great Ajax assets and redeploy capital in higher-yielding strategies.
In connection with the proposed merger, Ellington Financial intends to file a registration statement on Form S-4 with the SEC that includes a Great Ajax proxy statement and an Ellington Financial prospectus.
Ellington Financial and Great Ajax and their respective directors and executive officers and certain other affiliates of Ellington Financial and Great Ajax may be deemed to be participants in the solicitation of proxies from Great Ajax stockholders in connection with the proposed merger.