Finance

Brookfield Property Partners, in a JV with Qatar's sovereign wealth fund, is securitizing a commercial mortgage for the newly constructed, 70-story tower near New York's revitalized Hudson Yards district.

Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers.

A pioneer in the commercial mortgage-backed securities market argues the HOPE Act would bail out savvy investors who don't deserve it. Barclays predicts that kind of attitude will make passage difficult.

Seven-year loans make up over 10% of the latest pool of originations from Santander's Chrysler Capital division, nearly a tenfold increase from the prior issuance from the shelf.

The new “adverse market fee” for refinanced mortgages resembles steps the companies took to combat the 2008 mortgage crisis. But critics charge it isn’t necessary and will hurt borrowers’ ability to tap into low rates.

Merit Hill, a Brooklyn real estate investment firm, is sponsoring its first MBS offering secured by 78 self-storage units in 23 states.

The $500 million OneMain Financial Issuance Trust 2020-2 has triple-A senior-note ratings from three agencies, even as the economic upheaval of the coronavirus pandemic has prompted particular concerns about the risks in the lender’s key market of unsecured, subprime consumer loans.

San Francisco-based Theorem is marketing its first-ever securitization of online, unsecured consumer loans culled from the LendingClub origination platform using machine-learning technology.

Ginnie Mae helped to fund more than $70 billion in loans aimed at helping low- and moderate-income borrowers in July.

The collateral pool consists of 59 loans for mostly older garden-style and mid-rise apartment buildings that have undergone recent upgrades and renovation.

The private-equity giant has secured a $900 million single-asset commercial loan to finance its investment in three studios where Netflix and Walt Disney will produce original programming for their streaming services.

The action, affecting 362 tranches totaling $57 billion, is taken a week after Fitch revised the U.S. sovereign rating to negative because of ongoing deterioration in public finances.

The Fed's TALF program to support AAA-rated ABS securities issuance continues to resonate in the prime auto securitization space.

With year-to-date issuance at $51.7 billion, investor demand appears to remain strong despite economic headwinds of the pandemic.

The mortgage servicing rights package going up for bid adds to signs that the market for large offerings is becoming more active.

Tesla last week priced its latest auto-lease securitization at signficantly reduced spreads from its last deal—reflecting strong investor demand for TALF-backed securities and an improving outlook for the world's largest battery-electric vehicle (BEV) manufacturer.

In its sixth securitization of 2020, IPFS Corp. is pursuing a $400 million deal backed by a revolving pool of insurance-premium finance loans and secured by the right to receive the unearned premium amounts from the loans.

More than 2,500 Fitch-rated structured finance transactions face significant challenges transitioning from Libor to an alternative floating-rate benchmark, but the ratings agency doesn’t foresee that resulting in potential ratings downgrades until 2022.

The mortgage giants will have to meet benchmarks for covering cash flow needs during stressed periods. The FHFA views the requirements as a prerequisite to the companies exiting conservatorship.

The $156.5 million Amax Mortgage Loan Trust 2020-B is collateralized by 764 seasoned “re-performing” loans (RPLs), which are mortgages that were previously delinquent, as long as 90 days, but have recently been performing well.