A $130 million loan tied to Midtown Manhattan properties is at the center of a lawsuit that accuses a firm hired to ensure the debt is repaid of self-serving tactics. Processing Content Rialto Capital, tasked with overseeing the loan on behalf of investors, allegedly engineered a way to keep it in default so that the […]
400 Capital sues over alleged fee-grab tactic in CMBS loan Read More »
Three U.S. senators opened an inquiry into insurance ratings firm Demotech and whether its assessments may be exposing Fannie Mae and Freddie Mac — and ultimately taxpayers — to growing risks tied to climate-driven insurer failures. Processing Content In a letter sent Tuesday to Fannie Mae acting Chief Executive Officer Peter Akwaboah and Freddie Mac CEO Kenny Smith,
Lawmakers launch probe into key insurance rating firm in Florida Read More »
A pool of non-prime residential mortgages will collateralize $328.3 million in residential mortgage-backed securities (RMBS), through the CROSS 2025-H10 Mortgage Trust. Processing Content The transaction will issue notes through about nine tranches of class A, M and B notes, according to analysts at Kroll Bond Rating Agency. The notes will repay investors through a hybrid
CROSS intends to raise $328.3 million from non-prime mortgages Read More »
Jeffries Financial Group is purchasing a 50% stake in the parent company of Hildene Capital Management, which has a secondary market/securitization arrangement with Crosscountry Mortgage. Concurrent with this transaction, Hildene Capital Management is acquiring the holding company for SILAC Insurance, a provider of fixed and fixed indexed annuities for $550 million in cash. Compensation for
Jefferies expands credit reach with Hildene stake Read More »
A new type of reverse mortgage security needs to be created to accommodate Home Equity Conversion Mortgages that have reached the 98% maximum claim amount, a pair of industry organizations said in their respective responses to a government request for information. The RFI from the Federal Housing Administration and Ginnie Mae — along with their
Industry pushes new HMBS to fix aging reverse loans Read More »
Analysts at Bank of America Securities say they are in the minority in believing Fannie Mae and Freddie Mac should return to serving as the main backstop buyers of agency mortgage-backed securities. BofA Securities has said the return of the GSEs as major MBS purchasers “would be welcomed in managed form, particularly given their retained
Fed, not GSEs, should be mortgage securities backstop: BofA Read More »
GM Financial Consumer Automobile Receivables Trust is preparing to raise $925 million pool of asset-backed securities, collateralized by a pool of retail installment loan contracts. The deal will sell notes to investors through eight tranches of class A, B and C notes, according to Moody’s Ratings. There are five class A tranches, and they have
GM Financial readies a $925 million auto ABS deal Read More »
New Residential Mortgage Loan Trust, 2025-NQM5 is preparing to issue about $500.9 million in residential mortgage-backed securities (RMBS), bringing more capital into the market for investor-owned properties. Rithm Capital, a real estate investment trust that also invests in mortgage loan aggregation, is sponsoring the deal. This is also the program’s fifth securitization this year backed
New Residential Mortgage floats another $500.9 million Read More »
A yearslong legal battle between credit union regulators and U.S. Bank over mortgage securities dating back to the financial crisis is nearing a settlement, according to new court filings. Both NCUA and U.S. Bank said they were unable to comment on the settlement. A letter dated Oct. 2 from both sides to Judge Louis
U.S. Bank, NCUA reach deal in Great Financial Crisis case Read More »
Knock, a real estate technology company that helps homeowners to buy before they sell, on Tuesday announced the close of its inaugural $100 million securitization. Cantor Fitzgerald & Co. served as the initial purchaser and bookrunner for the transaction, which closed on Aug. 14 and generated strong demand from well-established institutional investors in residential mortgage-backed
Knock closes $100M securitization, says it’s reached profitability Read More »