Led by financial services firm Cantor Fitzgerald who also served as initial purchaser of the bonds, the issuance is expected to help Knock deliver $900 million worth of additional originations of its bridge loan product. The deal closed on Aug. 14 and was 75% pre-funded, garnering strong demand from institutional investors operating in residential mortgage-backed […]
Knock hits profitability with $100M loan securitization Read More »
A pool of private student loans, provided to borrowers through the Iowa Student Loan Liquidity Corp., will secure $160.9 million in revenue bonds through series 2025A and 2025B. All the senior notes are fixed, according to S&P Global Markets, with the two, taxable series A notes maturing on Dec. 1, 2035 and Dec. 1, 2045.
Private Iowa student loans back $160.9 million Read More »
Tailwinds behind the non-qualified mortgage segment are leading to growing secondary market volumes, while loan pools are on par with recent performance levels, according to a new Morningstar DBRS report. Second-quarter non-QM volumes exceeded last year’s number, totaling over $9.8 billion of typical securitizations, the ratings agency said in a new report. On a year-over-year
Favorable tailwinds drive growth in non-QM securities Read More »
A pool of residential mortgages, a substantial amount of which are not subject to ability-to-repay rules or had been modified several years ago, will provide collateral for $263.9 million in residential mortgage-backed securities (RMBS) from the PRPM 2025-RCF4 deal. Some 16.2% of the loans in the collateral pool have been modified. In the case of
PRPM’s mortgage assets support $263.9 million in RMBS Read More »
Steven T. Kolyer, recognized as a leading securitization industry lawyer, has joined Cadwalader as co-head of its commercial real estate, collateralized loan obligation practice. Kolyer is based in New York and brings broad experience in securitizations, structured credit products, fund formation and finance, and in CLOS, both corporate and real estate, according to a statement
Kolyer joins Cadwalader as co-head of CRE, CLO practice Read More »
Fixed-rate loans and lease contracts on medical, trucking and transportation equipment will provide collateral for $582.3 million in asset-backed securities (ABS) from the North Mill Equipment Finance, series 2025-B. North Mill Equipment Finance is sponsoring the deal, its second equipment securitization of the year, and is the servicer of the securitized pool, according to Moody’s
North Mill raises $582.3 million in second 2025 deal Read More »
Finance of America was profitable for a second consecutive quarter as funded volume at the reverse mortgage lender grew 7% versus the first quarter and 35% year-over-year. The company made net income from continuing operations of $80 million for the period ended June 30, unchanged from the first quarter and up from a $5 million
FOA posts profit, buys out Blackstone stake Read More »
While its two mortgage banking segments made money during the second quarter, Redwood Trust lost $100.2 million for the period, related to businesses it is winding down. This compared with net income of $14.4 million in the first quarter and $13.8 million in the second quarter of 2024. The legacy investments are now its own
Redwood Trust’s mortgage businesses turn 2Q profits Read More »
The New York Supreme Court has weighed in on a contractual dilemma Wells Fargo has reportedly faced as a residential mortgage-backed securities trustee with a responsibility to oversee investor payment distributions impacted by unforeseen policy changes. A judge has ruled on how trustees and servicers should handle forborne principal from loans in the now-defunct Home
New ruling answers legacy mortgage bond servicing question Read More »
Real estate professionals attending a recent Morningstar | DBRS panel discussion were optimistic about the new production prospects for residential transition loans (RTL), with about 60% saying they expected positive long-term growth, and around 32% expecting flat production from the sector. The financing environment is also positive, they said. Forty-four percent of industry professionals in
Pros see longevity for residential transition loans Read More »