Investment Management Corp. of Ontario is investing $400 million to a customized portfolio, with the goal of capitalizing on Are’s all-weather approach, taking advantage of opportunistic dislocations and market inefficiencies. The remaining $100 million will be allocated to the flagship Ares Pathfinder fund.
The $1 billion bond, which follows similar issuances by Citigroup, JPMorgan Chase, Bank of America and Truist Financial, gives a big role to broker-dealers owned by minorities, women and disabled veterans.
Issuance of capital market instruments aimed at protecting one government-sponsored enterprise from distressed mortgage credit events staged a relatively quick rebound in 2020, a new Federal Housing Finance Agency report shows.
With little transitional disruption, the bigger players on the non-agency side could gain a hefty share of non-owner-occupied mortgage volume as a result of Fannie Mae and Freddie Mac’s caps on such purchases, a KBRA analysis finds.
Flatt said the combination of strong markets and asset sales means there’s enough capital on hand for its planned $6.5 billion privatization of Brookfield Property Partners LP, and the repurchase of its own shares, to soak up some of the new equity being issued in the transaction.
While the product was hard to find after the start of the pandemic, the Consumer Financial Protection Bureau’s recent changes to Appendix Q are giving a pair of large wholesalers the chance to offer it as a qualified mortgage.
Only $89 billion of the $362 billion in new single-family volume came from purchase mortgages.
The Consumer Financial Protection Bureau has moved ahead with an earlier proposal to postpone the full adoption of the qualified-mortgage ability-to-repay rule, citing a need to maximize borrowers' credit access.
The mortgage real estate investment trust has been a first-mover regarding innovations in the private securitized market, and others tend to follow its lead.
The diverse group of loans in the servicing rights portfolio offers a potentially attractive recapture opportunity and would be a sizable transaction for their era.
Treasury Secretary Janet Yellen said she prefers to have the Financial Stability Oversight Council flag hazardous activities by nonbanks rather than subject specific firms to heightened supervision.
Volumes were at a record high in the final quarter of 2020 but lenders didn’t make quite as much since gains on loan sales to the secondary market fell.
The company is still searching for someone to fill the roll on a full-time basis, but the $600,000 annual salary cap may limit the candidate pool.
The government-sponsored enterprise announced Wednesday it will change eligibility criteria for vacation homes and investor properties starting April 1 to fulfill a directive by former Treasury Secretary Steven Mnuchin.
The $16.9 billion in issuance marked the biggest annual number seen since the government-sponsored enterprise reconstituted its risk sharing program in 2013.
The deal definitively ends a monthslong war of words between the data provider and stakeholders who attempted a hostile takeover.
January’s excess return came in at a level well above the trailing average for the month, thanks in large part to a helpful hand from the Federal Reserve.
Issuance of securitizations backed by these loans is becoming more dependable, and Fannie will need more mortgages that finance newly-built energy-efficient homes to keep it going.
The transaction consisting of $24 million in securitized Ginnie pools followed a 265% jump in broader industry eNote registrations last year.
The Financial Stability Oversight Council could determine that a broad range of mortgage companies should be subject to “heightened prudential standards,” said Andrew Olmem, a partner at Mayer Brown and a former senior economic adviser to the White House.
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