KBRA releases the May 2023 issue of CMBS Trend Watch. We will start with the good news: CMBS private label issuance, while anemic, seems to be gaining some traction. In May, KBRA published pre-sales for four deals including one SB and three conduit transactions. This month?s edition also highlights recent KBRA research publications, which cover various topical issues.
Analyzes physical climate risk for mortgage portfolio backed by over 17 million U.S. single-family and multifamily residential assets Jupiter, the trusted leader in climate risk analytics, today announced that Fannie Mae is using the company?s industry-leading product, ClimateScore? Global, to assess the potential impacts of climate change on their mortgage portfolio backed by over 17 million U...
The Federal Home Loan Bank of Pittsburgh announced the 2023 winners of its Diversity, Equity and Inclusion Membership Award and the Pillars of the Community Awards.
KBRA releases a new report on defeasance and supplemental debt, which climbed to an all-time high in 2022 for Freddie Mac K-Series deals. Despite the decline in activity in 2H 2022, defeasance may have benefited from lower Treasury prices due to the rise in the 10-year note, as the cost to replace property cash flows with defeasance Treasury securities became cheaper.
Salvation Army to Build New Facility that Will Include Units for Women and Children. A homeless shelter will be built to serve women, children and men in Alexandria, Louisiana, with the help of a $750,000 Affordable Housing Program subsidy provided by the Federal Home Loan Bank of Dallas through its member, Red River Bank. This press release features multimedia.
Sallie Mae?, formally SLM Corporation (SLM), today announced CEO Jon Witter will speak at the 2023 Morgan Stanley US Financials, Payments & CRE Conference on Monday, June 12, at 11 a.m. ET. A live audio webcast and replay will be available at SallieMae.com/investors. Sallie Mae believes education and life-long learning, in all forms, help people achieve great things. Category: Corporate and Financial.
Funds Increased to $42 Million and Access Extended to Year-Round Availability The Federal Home Loan Bank of Chicago is pleased to announce expanded funding of its Downpayment Plus? grant program bringing the total 2023 program budget to $42 million.
***Noon, Thursday, May 25, 1412 Centre Court, Suite 101, Alexandria, Louisiana 71301*** Red River Bank and the Federal Home Loan Bank of Dallas will present $750,000 in Affordable Housing Program funds to The Salvation Army of Central Louisiana to build a multifamily homeless shelter and support facility in Alexandria, Louisiana.
KBRA assigns preliminary ratings to 65 classes from Connecticut Avenue Securities, Series 2023-R04, a credit risk sharing transaction with a total note offering of $765,166,000. The Reference Pool consists of 66,984 residential mortgage loans with an outstanding principal balance of approximately $20.9 billion as of the cut-off date.
FHLB Dallas Provided $200K to Support Affordable Rental Homes Village officials, affordable housing advocates and the Federal Home Loan Bank of Dallas came together this week to celebrate the opening of a housing development serving low-income residents in the Village of Ruidoso, New Mexico. This press release features multimedia.
Five Organizations Receive Funds to Disburse to Impacted Residents In response to the recent devastation caused by severe storms and tornadoes in Arkansas, the Mississippi Delta and Northeast Mississippi, the Federal Home Loan Bank of Dallas has donated $1 million to assist with relief and recovery efforts in the affected regions.
Basis, a national CRE investment firm, acquired the Controlling class and B Piece in the BANK5 2023-5YR1 CMBS? its fifth such transaction BIG Real Estate BP II, LLC, a national commercial real estate investment platform, announced today that it acquired the B-piece in the BANK5 2023-5YR1 commercial mortgage-backed securities origination.
Newrez LLC, a national mortgage lending and servicing organization, announced today that it will offer Freddie Mac BorrowSmart AccessSM, a mortgage program designed to assist first-time homebuyers by helping subsidize their closing costs and unlocking the dream of homeownership.
? Net income from continuing operations of $55 million or $0.29 basic earnings per share for the quarter ? ? Completed the acquisition of AAG, further enhancing our market position in Reverse Mortgage Lending ? ? Strengthened the balance sheet including the issuance of new equity ? ? Realigned reporting segments, bringing focus and clarity to strategic vision ? PLANO, Texas---- Finance of Ameri...
KBRA releases the April 2023 issue of CMBS Trend Watch. Following the Federal Reserve?s 10th consecutive rate hike, the central bank?s tightening policy may be edging closer to a pause.
The Federal Home Loan Bank of Dallas today reported net income of $174.7 million for the quarter ended March 31, 2023. Total assets at March 31, 2023 were $181.2 billion, compared with $114.3 billion at December 31, 2022. Advances totaled $124.8 billion at March 31, 2023, compared with $68.9 billion at December 31, 2022.
The Federal Home Loan Bank of Pittsburgh announced today unaudited financial results for the first quarter of 2023. ?Our ability to meet strong first quarter advance demand, as a result of industry events, demonstrates our cooperative?s ability to meet dynamic member needs across economic environments,? said Winthrop Watson, President and Chief Executive Officer.
First-Quarter GAAP Net Income Attributable to Common Stock of $114 Million, or $0.47 Per Diluted Share Private Education Loan Originations Increase 12% from Year-Ago Quarter to $2.4 Billion Improved Credit Performance Compared with Fourth-Quarter 2022; Private Education Loan Net Charge-offs of 2.1% for the First-Quarter Sallie Mae Bank First-Quarter Liquidity Ratio of 19.7%, up from 17.2% in th...
Sallie Mae?, formally SLM Corporation (SLM), today announced a 2023 second-quarter dividend on its Preferred Stock Series B of $1.6971444 per share. Both preferred stock and common stock dividends will be paid on June 15, 2023, to the respective stockholders of record at the close of business on June 2, 2023.
Sallie Mae?, formally SLM Corporation (SLM), today announced Chief Financial Officer Steve McGarry will speak at the 2023 Barclays Americas Select Conference on Tuesday, May 9, at 10:15 a.m. ET. A live audio webcast and replay will be available at SallieMae.com/investors. Sallie Mae believes education and life-long learning, in all forms, help people achieve great things.
KBRA assigns preliminary ratings to 62 classes from Connecticut Avenue Securities, Series 2023-R03, a credit risk sharing transaction with a total note offering of $621,771,000. The Reference Pool consists of 112,666 residential mortgage loans with an outstanding principal balance of approximately $38.0 billion as of the cut-off date.
Stewart Information Services Corporation (STC) today announced that Stewart Valuation Intelligence, LLC has been approved to support Fannie Mae?s new Value Acceptance + Property Data through VALIDITY, the company?s family of inspection applications, optimized for IOS and Android.
PennyMac Mortgage Investment Trust (PMT) announced today that Donna Corley, former Executive Vice President and Head of Single-Family Business at Freddie Mac, will join its Board of Trustees and that Marianne Sullivan will step down from its Board of Trustees, both effective June 1, 2023.
KBRA assigns preliminary ratings to 34 classes from Freddie Mac Structured Agency Credit Risk REMIC 2023-DNA2 Notes, Freddie Mac STACR REMIC Trust 2023-DNA2, a credit risk sharing transaction with a total note offering of $722,000,000.
KBRA is pleased to announce the assignment of preliminary ratings to four classes of FREMF Series 2023-K155 mortgage pass-through certificates and three classes of Freddie-Mac structured pass-through certificates, Series K-155. The underlying transaction is collateralized by 37 fixed-rate multifamily mortgage loans.
?Webcast and Conference Call Scheduled for Thursday, April 27, at 8 a.m. ET Sallie Mae?, formally SLM Corporation (SLM), will release first-quarter 2023 financial results after market close on Wednesday, April 26, 2023. A live audio webcast and presentation slides will be available at SallieMae.com/investors and the hosting website on Thursday, April 27, 2023, at 8 a.m. ET.
KBRA releases the March 2023 issue of CMBS Trend Watch. March was a month of madness, not just for basketball, but for concerns surrounding the state of the economy after the collapse of three U.S. banks in one week?after which the Federal Reserve effectuated its ninth consecutive rate hike.
KBRA is pleased to announce the assignment of preliminary ratings to four classes of FREMF Series 2023-K154 mortgage pass-through certificates and three classes of Freddie-Mac structured pass-through certificates, Series K-154. The underlying transaction is collateralized by 50 fixed-rate multifamily mortgage loans.
Leading valuation management technology platform provides lenders, AMCs and appraisers a complete toolset to support valuation modernization AppraisalWorks?, the leading property valuation and valuation management technology provider, today announced the platform provides turnkey support for Fannie Mae?s Value Acceptance + Property Data framework.
BayCom Corp (BCML), and its wholly owned subsidiary United Business Bank, a Western Regional bank, today confirmed its capital and liquidity positions remain strong. The Bank has access to approximately $1.1 billion in liquidity from numerous sources including its borrowing capacity at Federal Home Loan Bank.
Following extensive pilot, Accurate Group is one of only six providers approved by Fannie Mae Accurate Group, a leading provider of technology-driven real estate appraisal, title data, analytics and e-closing solutions, today announced they are one of six service providers approved after extensive review and client testing by Fannie Mae for the new Value Acceptance + Property Data valuation mod...
KBRA assigns preliminary ratings to 62 classes from Connecticut Avenue Securities, Series 2023-R03, a credit risk sharing transaction with a total note offering of $542,082,000. The Reference Pool consists of 113,917 residential mortgage loans with an outstanding principal balance of approximately $38.5 billion as of the cut-off date.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
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