Through the first two months of 2019, the nation’s mortgage-investing real estate investment trusts have rolled out plans to raise a combined $1.92 billion by selling additional shares of common to the public, according to offering documents filed with the Securities and Exchange Commission.
The Securities Industry and Financial Markets Association and the Investment Company Institute, in a joint letter, urged the Internal Revenue Service and the Treasury Department to clarify certain diversification requirements under the single security initiative.
Commercial banks and thrifts reversed a year-long trend during the fourth quarter of 2018 and increased their holdings of single-family MBS, a new Inside MBS & ABS analysis reveals. [Includes two data charts.]
Several key issues remain unresolved as the securitization industry attempts to move away from the London Interbank Offered Rate. It’s not clear which parties should enact transitions away from the benchmark rate and, moreover, a replacement hasn’t been developed yet.
Securitizations backed by oil and gas royalties likely will be issued this year, according to Fitch Ratings. The agency updated its future flow securitization rating criteria last week in anticipation of such ABS issuance.
SoFi’s first consumer loan securitization deal this year will include a higher portion of loans from the company’s lowest credit tier, but rating agencies said the credit quality of the transaction is stronger than its previous consumer loan ABS deals.
“HARP is dead, long live High LTV Refinance programs!” That’s the title of a recent report by structured finance analysts at Bank of America Merrill Lynch on the impact HARP’s replacements will have on the government-sponsored enterprises’ credit-risk transfer programs.
New Residential Investment Corp., one of the fastest growing mortgage real estate investment trusts in the U.S., has an overseas fan in Nan Shan Life Insurance Co. of Taipei City, Taiwan.
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