PRMG Mortgage of California is looking to grow its wholesale and correspondent channels and is presently searching for new account executives and support staff…
The vacancy rate on homes that collateralize single-family rental securitizations rose ever so slightly to 4.3 percent in May, but high renewal rates on tenant leases were strong, according to figures compiled by Morningstar Research. The firm noted that the average retention rate rose for the fourth straight month and now stands at 79.8 percent “for the most recent data available.” Two SFR securitizations, including one from market leader Invitation Homes, paid off...
Trustees for 244 residential MBS trusts have accepted a $2.4 billion settlement offer from Lehman Brothers to resolve repurchase claims related to pre-crisis RMBS transactions that went bad. The trustees filed a notice of acceptance and a motion seeking bankruptcy court approval of the settlement on May 22. A hearing on the motion will be heard by Judge Shelley Chapman of the U.S. Bankruptcy Court for the Southern District of New York on July 6, 2017. The trustees in the settlement include...
At the very least, these investors want a legal settlement with the Treasury Department over their “takings” claims. But will Treasury Secretary Steven Mnuchin deal?
A loan exchange operated by MAXEX looks to be a new source of jumbo mortgages. The exchange was recently assessed by Fitch Ratings and loans sourced from the exchange have been included in jumbo mortgage-backed securities issued by JPMorgan Chase. MAXEX was founded in 2012 but didn’t launch its LoanExchange platform until June 2016. Mortgages with an unpaid principal balance of more than $500.0 million have traded on the platform, according to Fitch. “JPMorgan Chase is...
The biggest was a $698 million bond from New Residential Mortgage Loan Trust backed by performing and re-performing loans bought out of mostly Alt A legacy deals.
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