RMBS

Freddie Mac's credit risk transfers come with a hefty price tag, but are ultimately still worth it, according to Chief Executive Don Layton.

The latest securitization of single-family rental properties by Colony American Finance is also the smallest to date for the REIT-affiliated lender. Colony American Finance 2016-2 is a securitization of 71 multi-borrower loans it originated included in a pool sized at $187.9 million, secured by mortgages of 2,717 rental units of single-, 2-4 and multi-family properties.

Bank of California in Irvine has sold an equipment-finance business to Hanmi Financial in Los Angeles.

A market that some Ginnie Mae issuers tap to help finance their mortgage operations has a dwindling number of investors.

Ygrene Energy Fund has emerged with its long-anticipated first securitization of Property Assessed Clean Energy (PACE) bonds that finance residential and commercial energy efficiency improvements and upgrades.

Renewable Funding, a/k/a Renew Financial Group, is structuring its second round of Property Assessed Green Energy (PACE) green bonds this year financing residential renewable energy and energy efficiency projects for California homeowners.

The debt consolidation loans originated by GE are backed by French homes, in a deal arranged by Morgan Stanley and the second true-sale securitization of debt consolidation receivables. The deal builds on a smaller initial €871.2 million SapphireOne issuance in July.

The Consumer Financial Protection Bureau decried an appeals court ruling last week that found its single-director structure unconstitutional, saying the opinion was "wrongly decided" and had "no basis in the text of the Constitution or in Supreme Court case law."

Colony Starwood Homes, a former major investor in distressed loans now focusing on managing single-family home rentals, is structuring a new asset-backed deal of SFR income offering the largest cash flow projection of any recent peer deals in the nascent asset class.

Several community lender groups are raising concerns that private mortgage insurance companies could offer volume discounts to attract large lenders, which would place midsize and smaller lenders at a competitive disadvantage.