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Fannie, Freddie Helping Older Apartment Buildings Go Green

By Allison Bisbey

Both government sponsored enterprises discount the interest rates on loans for buildings with one of several “green” certifications; they also underwrite some of the projected savings from upgrades on buildings of a certain age, allowing owners to take out bigger loans.

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Latest News

Conn’s Pursues 2nd Consumer Loan ABS

– Conn’s Receivables Funding 2016-B is comprised of three tranches of notes sized at $552.78 million, including $391.84 million in Class A notes receiving a provisional ‘BBB’ rating from Fitch Ratings. Fitch has capped the senior notes because of Conn’s higher loan defaults, management changes and credit-risk profile deterioration in recent years.

Banks Test Blockchain for Syndicated Loans with Symbiont, R3

– The nine participants are seeking proof that processing loan data exclusively on a blockchain could eliminate the cost for each to maintain their own lending system.

Citigroup Marketing $917M Conduit CMBS

– CGCMT 2016-P5, is backed by 49 fixed-rate loans secured by 73 properties. The loans have principal balances ranging from $2.8 million to $65 million for the largest loan in the pool, Hyatt Regency Jersey City, a 351-key, full-service hotel located in Jersey City, New Jersey.

Ditech Returns with Servicer Advance Receivable Securitization

– The servicer plans to issue $296 million in bonds backed by repayment rights to advances on Freddie Mac and Fannie Mae mortgages via Green Tree Agency Advance Funding Trust I (Series 2016-T1).


Featured Articles

The Silent Crisis in Housing Finance

– With the creation of the Consumer Financial Protection Bureau, the cost of servicing mortgage loans in the U.S. has dramatically risen. Adding to the mortgage market's predicament is the exit of banks from the single-family mortgage business in favor of multifamily and commercial assets that are not subject to the CFPB mortgage rules.

"Shut Up and Move On." Eisman to Securitization Pros

– Steve Eisman, who profited from the mortgage metldown, tells an industry crowd why he thinks the financial system is safer under Dodd-Frank, why Silicon Valley is "clueless" about lending and what the next "big short" will be.

Rush To Extend Maturity of CLOs Ahead of Risk Retention

– In October, roughly $40 billion collateralized loan obligations will become callable, giving managers with a required payment date only a month in which to refinance before the risk retention requirement kicks in.

Startup Buys Home Equity, Instead of Lending Against It

– A fintech startup called Point is allowing consumers sell a piece of their home equity to investors, rather than borrowing against the value of their houses.

Lending Club Seeks to Bolster Its Retail Investor Base

– Lending Club, which is seeking to rebound from a recent corporate governance scandal, plans to step up its efforts to sell loans to everyday investors, Chief Executive Scott Sanborn said.

Struggling Malls Pose Outsized Risk to CMBS

– In just a few years, a popular mall with high-end anchor stores and boutique retail tenants can fall into substandard property condition, leaving commercial mortgage bond investors with outsized losses on their exposure to these properties.

Why Subprime Mortgages Lend Themselves to Securitization

– Many lenders are still reluctant to give mortgages to borrowers with less-than-pristine credit, yet such loans are far more likely than prime jumbo loans to be bundled into collateral bonds. Sreeni Prabhu of Angel Oak Capital credits banks' behavior and higher interest rates for that reality.


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Verizon Selling Bonds Backed by Cell Phone Payments

The $1.17 billion deal follows a year’s worth of management deliberations over issuing asset-backeds, which Verizon expects to lower the cost of financing device payment-plan agreements.The deal will also ease pressure on the carrier's own corporate credit ratings.

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