Securitization

Fannie Mae has priced its first resecuritization of multifamily mortgages on energy efficient buildings.

Ocwen has stepped away from the business of acquiring mortgage service portfolios - for now - so the special servicer is exploring new business lines as varied as mortgage originations to alternative lending under the direction of new non-executive chair Phyllis Caldwell. a former U.S. Treasury executive.

The San Francisco company reported a $32 million loss during the fourth quarter, bringing its losses for the full year to $146 million. For the sake of comparison, Lending Club reported profits of $4.6 million in the fourth quarter of 2015.

Trading volume of $56.6 billion in the fourth quarter was the second-highest level for the market since the first quarter of 2014. Loan prices selling near or above par also rose last fall.

Fannie Mae plans to sell nonperforming loans with $1.7 billion in unpaid principal balance.

The risk of disruption during a potential servicing transfer is worse for bonds backed by private student loans than for bonds backed by federally guaranteed student loans.

Royal Bank of Canada is securitizing its first U.S. dollar-denominated credit-card receivables portfolio of the year in an asset-backed transaction through the Golden Credit Card Trust.

J.P. Morgan is testing the market with another large offering of mortgage bonds backed by an unusual mix of collateral.

A new single-asset, single-borrower commercial mortgage securitization features one of the premier office complexes in San Francisco’s South Financial district.

Consumer Financial Protection Bureau Director Richard Cordray has managed to keep his job for more than two weeks into a Trump administration, despite repeated calls by House Republicans for him to be fired.

Ally Financial is marketing $664.45 million in notes secured by the receivables on inventory credit lines it underwrites for dealers primarily franchised with General Motors and Chrysler USA.

New collateralized loan obligation volume through Feb. 10 has already topped $3.2 billion with at least nine new deals in the pipeline, the LSTA reported. That adds to $4.8 billion in refinancing activity for the month, after two more refis were priced on Thursday.

Barclays launched last week’s only offering of commercial mortgage bonds, the $855.7 million BBCMS Mortgage Trust 2017-C1.

Cherry Hill Mortgage Investment Corp. has received issuer and purchase approval from Ginnie Mae, allowing it to complete a previously announced deal with Freedom Mortgage.

Mariner Finance is prepping a first-time $225 million asset-backed notes issuance supported by nearly 90,000 subprime and nonprime personal loans. Over 60% of the loans in the 'BBB+'-rated deal are unsecured and nonprime.

Subprime auto lenders Credit Acceptance Corp. and First Investors are marketing a combined $575 million of asset-backeds.

Invictus Capital Partners, a nonprime mortgage lender based in Washington, D.C., is making its debut in the securitization market.

Freddie Mac is preparing its second offering of the year of Structured Agency Credit Notes, which offload some of the risk of default on mortgages that it insures.