REITs

Instead of marketing securities backed by commercial property mortgages, STORE Capital chooses the more esoteric option of securitizing the income from its triple-net leases – a similar strategy to REITS such Spirit Realty Capital and SCP Financial.

OBX 2019-INV2 is a private-label RMBS pool of 1,087 of agency-eligible investor-property loans.

The trio of malls collateralizing the new mortgage include two well-performing mall as well as a troubled Florida super-regional shopping center.

Two Harbors Investment Corp., which grew its servicing portfolio by 22% in the fourth quarter, priced a common stock offering to raise funds to buy more rights as well as mortgage-backed securities.

Continued diversification of its business lines and better margins in its securitization activities helped Redwood Trust overcome steep mortgage origination declines and post nearly 14% annual growth in net income during the third quarter.

The unique approach Fannie Mae and Freddie Mac are each taking with their credit-risk transfer products is quickly becoming a key point of differentiation that's rekindling competition between the government-sponsored enterprises.

Laurel Davis, VP, credit risk transfer at Fannie Mae, explains why the switch to a REMIC structure for CAS is important, and why it took so long.

The structure reduces counterparty risk in the GSE's benchmark Connecticut Avenue Securities program; it also expands the investor base.

A former Federal Home Loan bank president argues that the system should limit its exposure to risky nonbanks.

Annaly Capital Management will be able to proceed with a delayed exchange offer needed for its acquisition of MTGE Investment Corp. because it has been able to satisfy incomplete deal conditions.