Whoever succeeds current Director Mel Watt will have a front-and-center role in efforts to reform Fannie Mae and Freddie Mac.

Some collateral attributes, such as non-full documentation and a high percentage of non-QM and HPQM loans, fall slightly outside the credit box seen in other recent prime transactions, according to Fitch.

Jack Remondi issued a direct call Wednesday for the agency to drop its lawsuit against the student loan servicer. “You’ve had five years to look for your evidence, you’ve found none,” he said.

The amount of loans cherry picked by the likes of SoFi and CommonBond fell by 3%, to $221 million; just as well, since Sallie Mae's grad school loans are off to a slow start.

Redwood Trust has priced a new stock offering that is aimed at increasing funding to new initiatives like investments in the single-family rental and multifamily sectors as well as routine business.

A $100.3 million sliver of the $1.7 billion loan is being used as collateral for a conduit securitization called Benchmark 2018-B5 Mortgage Trust, according to DBRS. It represents 9.9% of the $1.04 billion transaction.

Should cash flow for subordinate classes fall short, a debt-service coverage ratio trigger would defer interest payments and prevent a default event.

The Chicago-based corporate small-business lender and CLO management firm also reduced the cost in subordinate notes as it chose to maintain the existing reinvestment and maturity periods limiting the deal's shelf life.

Nonbank mortgage-backed securities servicers increase their exposure to agency loans as the housing market distances itself from last decade's crash, according to Fitch Ratings.

Kroll Bond Rating Agency says the riskiest notes issued in the 2016 transaction are at “substantial risk of loss,” following on the heels of a similar move by S&P last week. Kroll also put a more senior class of notes under review for a possible downgrade.

Extell Development obtained a 119-month, $110 million mortgage and two mezzanine loans totaling $140 million from Natixis; proceeds repaid existing debt of $209.2 million and funded closing costs as well as a rent step-up reserve.

It's the Canadian bank's second deal of the year aimed at U.S. investors and adds to what has been a slow pace of credit card issuance this year. Two subordinate Canadian dollar tranches will be retained.