Loans

Should you buy a home right now? The answer is yes.

Friday, June 11, 2021 - 8:03pm

With mortgage interest rates at low levels, monthly rent prices climbing, and home values going up, new homeowners can gain instant equity.

Key Points: 
  • With mortgage interest rates at low levels, monthly rent prices climbing, and home values going up, new homeowners can gain instant equity.
  • CBH Homes is offering an opportunity for new buyers to receive up to $20,000 towards a new CBH home to support buyers in this economy.
  • "Whether you're renting or looking to move up, now is the time to buy."
  • With an unprecedented large inventory on the ground, CBH has 250 new homes ready for buyers to move into.

Freddie Mac Announces Pricing of $385 Million Multifamily Small Balance Loan Securitization

Friday, June 11, 2021 - 3:54pm

Freddie Mac is also acting as mortgage loan seller and master servicer to the trust.

Key Points: 
  • Freddie Mac is also acting as mortgage loan seller and master servicer to the trust.
  • In addition to the five classes of securities guaranteed by Freddie Mac, the trust will issue certificates consisting of Class B and Class R Certificates, which will not be guaranteed by Freddie Mac and will be sold to private investors.
  • Freddie Mac has a specialty network of Optigo Seller/Servicers and Optigo SBL lenders with extensive experience in this market who source loans across the country.
  • Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.

ICE Mortgage Technology Acquires eVault Technology from DocMagic for Encompass eClose

Friday, June 11, 2021 - 1:30pm

ICE Mortgage Technology and DocMagic have been helping lenders implement digital mortgage processes for years, said Dominic Iannitti, president and CEO of DocMagic.

Key Points: 
  • ICE Mortgage Technology and DocMagic have been helping lenders implement digital mortgage processes for years, said Dominic Iannitti, president and CEO of DocMagic.
  • ICE Mortgage Technology combines technology, data and expertise to automate the entire mortgage process from consumer engagement through loan registration.
  • At ICE Mortgage Technology , we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration.
  • Encompass and the ICE Mortgage Technology logo are trademarks of the entities of ICE Mortgage Technology, Inc.
    View source version on businesswire.com: https://www.businesswire.com/news/home/20210611005076/en/

Clarivate Announces Pricing of Offering of $1.0 Billion Senior Secured Notes and $1.0 Billion Senior Notes

Friday, June 11, 2021 - 1:34am

LONDON, June 11, 2021 /PRNewswire/ -- Clarivate Plc (NYSE: CLVT), a global leader in providing trusted information and insights to accelerate the pace of innovation, announced today the pricing of its previously announced private offering (the "Offering") of $1.0 billion of 3.875% senior secured notes due 2028 (the "Secured Notes") and $1.0 billion of 4.875% senior notes due 2029 (the "Unsecured Notes" and, together with the Secured Notes, the "Notes").

Key Points: 
  • LONDON, June 11, 2021 /PRNewswire/ -- Clarivate Plc (NYSE: CLVT), a global leader in providing trusted information and insights to accelerate the pace of innovation, announced today the pricing of its previously announced private offering (the "Offering") of $1.0 billion of 3.875% senior secured notes due 2028 (the "Secured Notes") and $1.0 billion of 4.875% senior notes due 2029 (the "Unsecured Notes" and, together with the Secured Notes, the "Notes").
  • The Secured Notes will mature on June 30, 2028 and the Unsecured Notes will mature on June 30, 2029.
  • The Notes will be issued by Clarivate Science Holdings Corporation (the "Issuer"), an indirect wholly-owned subsidiary of Clarivate, on June 24, 2021, subject to customary closing conditions.
  • The Secured Notes are expected to be secured on a first-lien pari passu basis with borrowings under the existing credit facilities and senior secured notes, and the Unsecured Notes will be the Issuer's and such guarantors' unsecured obligations.

Clarivate Announces Pricing of Offering of $1.0 Billion Senior Secured Notes and $1.0 Billion Senior Notes

Friday, June 11, 2021 - 1:13am

LONDON, June 10, 2021 /PRNewswire/ -- Clarivate Plc (NYSE: CLVT), a global leader in providing trusted information and insights to accelerate the pace of innovation, announced today the pricing of its previously announced private offering (the "Offering") of $1.0 billion of 3.875% senior secured notes due 2028 (the "Secured Notes") and $1.0 billion of 4.875% senior notes due 2029 (the "Unsecured Notes" and, together with the Secured Notes, the "Notes").

Key Points: 
  • LONDON, June 10, 2021 /PRNewswire/ -- Clarivate Plc (NYSE: CLVT), a global leader in providing trusted information and insights to accelerate the pace of innovation, announced today the pricing of its previously announced private offering (the "Offering") of $1.0 billion of 3.875% senior secured notes due 2028 (the "Secured Notes") and $1.0 billion of 4.875% senior notes due 2029 (the "Unsecured Notes" and, together with the Secured Notes, the "Notes").
  • The Secured Notes will mature on June 30, 2028 and the Unsecured Notes will mature on June 30, 2029.
  • The Notes will be issued by Clarivate Science Holdings Corporation (the "Issuer"), an indirect wholly-owned subsidiary of Clarivate, on June 24, 2021, subject to customary closing conditions.
  • The Secured Notes are expected to be secured on a first-lien pari passu basis with borrowings under the existing credit facilities and senior secured notes, and the Unsecured Notes will be the Issuer's and such guarantors' unsecured obligations.

OFS Credit Company Provides May 2021 Net Asset Value Update

Thursday, June 10, 2021 - 11:23pm

OFS Credit Company, Inc. (NASDAQ: OCCI) (OFS Credit, the Company, we, us or our), an investment company that primarily invests in collateralized loan obligation (CLO) equity and debt securities, today announced the following net asset value (NAV) estimate as of May 31, 2021 and the issuance of 120,000 shares of 6.0% Series D Term Preferred Stock due 2026 (the Series D Term Preferred Stock), raising approximately $2.9 million in gross proceeds.

Key Points: 
  • OFS Credit Company, Inc. (NASDAQ: OCCI) (OFS Credit, the Company, we, us or our), an investment company that primarily invests in collateralized loan obligation (CLO) equity and debt securities, today announced the following net asset value (NAV) estimate as of May 31, 2021 and the issuance of 120,000 shares of 6.0% Series D Term Preferred Stock due 2026 (the Series D Term Preferred Stock), raising approximately $2.9 million in gross proceeds.
  • Managements unaudited estimate of the range of our NAV per share of our common stock as of May 31, 2021 is between $14.19 and $14.29.
  • This estimate is not a comprehensive statement of our financial condition or results for the month ended May 31, 2021.
  • OFS Credit is a non-diversified, externally managed closed-end management investment company.

Arbor Realty Trust Closes a $815 Million Collateralized Loan Obligation Securitization

Thursday, June 10, 2021 - 9:02pm

UNIONDALE, N.Y., June 10, 2021 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (NYSE: ABR), today announced the closing of a $815 million commercial real estate mortgage loan securitization (the Securitization).

Key Points: 
  • UNIONDALE, N.Y., June 10, 2021 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (NYSE: ABR), today announced the closing of a $815 million commercial real estate mortgage loan securitization (the Securitization).
  • An aggregate of approximately $674 million of investment grade-rated notes were issued (the Notes) and Arbor retained subordinate interests in the issuing vehicle of approximately $141 million.
  • The $815 million of collateral includes approximately $162 million of capacity to acquire additional loans for a period of up to 180 days from the closing date of the Securitization.
  • Arbor Realty Trust, Inc. (NYSE: ABR ) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, single-family rental (SFR) portfolios, and other diverse commercial real estate assets.

Maranon Closes Sixth Middle Market CLO

Thursday, June 10, 2021 - 9:56pm

Maranon Capital, L.P. (Maranon) announced the closing of Maranon Loan Funding 2021-1, Ltd., a $400 million collateralized loan obligation (CLO).

Key Points: 
  • Maranon Capital, L.P. (Maranon) announced the closing of Maranon Loan Funding 2021-1, Ltd., a $400 million collateralized loan obligation (CLO).
  • This represents the sixth CLO issued by Maranon.
  • Maranon Loan Funding 2021-1 will primarily invest in leveraged loans to middle market, private equity-backed companies.
  • Maranon Capital, L.P. is an investment firm focused on private credit investments.

PennyMac Financial Services, Inc. Announces Update for Investor Day on June 17, 2021

Thursday, June 10, 2021 - 9:30pm

PennyMac Financial Services, Inc. (NYSE: PFSI) today announced an update regarding its combined virtual Investor Day with PennyMac Mortgage Investment Trust (NYSE: PMT) on Thursday, June 17, 2021.

Key Points: 
  • PennyMac Financial Services, Inc. (NYSE: PFSI) today announced an update regarding its combined virtual Investor Day with PennyMac Mortgage Investment Trust (NYSE: PMT) on Thursday, June 17, 2021.
  • Registration for the event is now open and available on the Companys investor relations website at www.ir.pennymacfinancial.com .
  • The Investor Day will include presentations from a diverse group of senior executives across both companies and multiple question and answer sessions.
  • As of March 31, 2021, PennyMac Financial serviced loans totaling $449 billion in unpaid principal balance, making it the sixth largest mortgage servicer in the nation.

CrossCountry Mortgage Celebrates Launch of $46 Million Headquarters Project

Thursday, June 10, 2021 - 9:30pm

Founded in 2003, CrossCountry Mortgage is a top 10 retail mortgage lender nationwide and the largest based in Ohio.

Key Points: 
  • Founded in 2003, CrossCountry Mortgage is a top 10 retail mortgage lender nationwide and the largest based in Ohio.
  • "We appreciate the close collaboration with our partners and CrossCountry Mortgage to help the company continue its success in Ohio."
  • CROSSCOUNTRY MORTGAGE, LLCis a top 10 retail mortgage lender in America, founded in 2003 by CEO Ronald J. Leonhardt, Jr.
  • CrossCountry Mortgage is on the Inc. 5000 List of America's Fastest-Growing Private Companies and a recipient of several other local and national awards for sales and growth.