Finance

Willis Engine Structured Trust, VIII, sells its fixed-rate notes through two tranches, all with a legal final maturity date of June 2050.

The volatility pushed whole loan spreads wider and brought single-asset single-borrower commercial mortgage-backed securitization to a halt as lenders waited for clarity.

Securitizations are breaking new ground and whole loan investors have been active as nonbanks increasingly originate and sell second lien products.

On a cumulative basis, advance rates on the notes range from 95.4% on the A1 notes to 121.8% on the class M5 notes.

The product, as well as the housing market, is different today than what it was two decades ago, where some feel it was a cause of the financial crisis.

The whole business securitization will issue notes through four classes of A, B and C notes, and uses a master trust structure, so it can issue additional classes.

The notes get credit enhancement from overcollateralization and a reserve representing 4.75% and 0.25% of the pool balance, respectively.

The transaction's pool of 365 fixed-rate mortgages, all first lien, breaks down to mostly non-agency loans (61.4%). The rest, 38.6%, are agency eligible.

Citigroup Inc. is structuring the so-called collateralized fund obligation, which will include both debt and equity portions.

Most of the contracts in Point Securitization Trust, 1,750 (81.64%), are second-lien as of the cut-off date.

The strategy, which focuses on non-bank lending to sectors such as residential mortgages, credit cards and auto loans, has been a key plank of the bond giant's push into private lending.

Several features, including a couple of cash trapping mechanisms and a rapid amortization feature, help maintain cashflow to the notes.

The initiative aims to channel the bloc's financial firepower more efficiently and spur growth by funding key industries including the defense sector.

The deal priced at 335 over, beating expectations for the transaction to price at 350 over, due to bond market volatility.

Bill Pulte and the government-sponsored enterprise's chief executive will be working with a firm that analyzes big data and utilizes artificial intelligence.

President Donald Trump said that the US government would retain guarantees and an oversight role over Fannie Mae and Freddie Mac even as he pursues a public offering for the mortgage giants.

The transaction is the fourth of its type the company has done this year through the partnership it has had with Crosscountry Mortgage since late 2022.

Stream Innovation 2025-1 also has a two-month prefunding feature, and during that time the $199.6 million in receivables is slated to expand to $249.6 million.

The riskiest portion of the securitization, worth $65 million was wiped out earlier this month after the loan's sale left just $164 million to distribute to creditors.

This potential transaction would be part of a broader trend of mortgage lenders and servicing players converging, such as Rocket's recent acquisition of Mr. Cooper.