Mortgages

A provision in the original Senate tax reform bill would have required companies acquiring mortgage servicing rights to pay taxes upfront for their anticipated servicing income.

The deal is similar to several sponsored by Jefferies that used the same moniker, Station Place, but were backed by revolving pools of mortgages originated by multiple lenders.

New Residential Investment Corp. is planning to purchase Shellpoint Partners in the first half of next year for $190 million with an additional earn-out over the next three years.

This time it’s the JW Marriott Phoenix Desert Ridge Resort & Spa, a 950-room, full-service resort. A $365 million first mortgage on the property from Morgan Stanley is being securitized via MSC 2017-JWDR.

Conforming loan limits for mortgages bought by Fannie Mae and Freddie Mac will increase for the second consecutive year in response to the rapid rise in home prices, the Federal Housing Finance Agency said.

The senior tranche of Angel Oak 2017-3 benefits from 46.25% credit enhancement, up significantly from 37.75% for the sponsor’s July transaction, but in line with its April deal.

The vast majority of default servicing professionals are investing in "significant" REO property improvements to increase resale values in a hot housing market.

The FHFA is allowing Fannie Mae and Freddie Mac to invest in the credits for the first time since they entered conservatorship. Its purpose is to promote affordable housing in underserved markets.

That’s an about-face from the bank’s previous transaction, completed in October, which was backed by fixed-rate mortgages, nearly half of which were underwritten to standards for purchase by Fannie Mae or Freddie Mac.

The private equity firm obtained a $540 million loan on the JW Marriott Grande Lakes and the Ritz-Carlton Grande Lakes, which are situated on 500 acres at the headwaters of the Everglades, from Barclays and Wells Fargo.

Benefit Street Partners is securitizing 20 short-term commercial real estate loans it originated or acquired for transitional properties currently with unstable cash flow.

A bill that would ease Basel III capital requirements on commercial real estate loans could level the playing field between depository and nonbank lenders and spur more construction lending if it passes in the Senate.

Impac Mortgage Holdings' nonqualified mortgage origination volume increased 248% year-over-year in the third quarter as the company accumulates loans for a planned securitization next year.

Capital One Financial will stop originating mortgage and home-equity loans after competition made it difficult for the businesses to be profitable.

The loans are part of a €1.8 billion bad-loan purchase that Mars Capital, an Oaktree "vulture fund," made of high-risk mortgages from Irish banking authorities in 2014.

James Bennison, head of alternative capital markets at Arch Capital Group, says that a new insurance-linked security helps with regulatory capital requirements and provides information that can help the company to better manage risk.

Hopes that tax reform might soften a weakening of the mortgage interest deduction were quickly dashed as the GOP plan landed a double punch on the incentive cherished by the mortgage and housing industries.

Mark Calabria, the chief economic adviser to Vice President Mike Pence, said the administration is focused for now on more pressing issues than GSE reform, including addressing housing damage from recent hurricanes.

A large portion of the collateral for both IH 2014-SFR2 and IH 2014-SFR3 is being rolled into a new securitization, IH 2017-SFR2.

New Residential Investment Corp. may seek to accelerate the process of transferring more than $100 billion in mortgage servicing rights it agreed to buy from Ocwen for $400 million.