Fixed-rate mortgage

KBRA Assigns Preliminary Ratings to CROSS 2023-H2 Mortgage Trust

Retrieved on: 
Friday, October 27, 2023
Banking, Professional Services, Insurance, Finance, KBRA, Documentation, Wild Arms, Fixed-rate mortgage, CrossCountry, CCM, Royal, CCC, RMBS, Real estate, Telescopic sight

KBRA assigns preliminary ratings to eight classes of mortgage pass-through certificates from CROSS 2023-H2 Mortgage Trust, a RMBS transaction issued under the Hildene-CCC Loan Acquisition, LLC (CROSS) shelf, where Hildene Capital Management (Hildene) in affiliation with CrossCountry Mortgage (CrossCountry or CCM) and CrossCountry Capital (CCC) sponsored the transaction.

Key Points: 
  • KBRA assigns preliminary ratings to eight classes of mortgage pass-through certificates from CROSS 2023-H2 Mortgage Trust, a RMBS transaction issued under the Hildene-CCC Loan Acquisition, LLC (CROSS) shelf, where Hildene Capital Management (Hildene) in affiliation with CrossCountry Mortgage (CrossCountry or CCM) and CrossCountry Capital (CCC) sponsored the transaction.
  • The $332.8 million transaction is collateralized by a pool of 656 residential mortgages originated by CCM, including a meaningful concentration of collateral that KBRA considers to be “non-prime”, with fixed-rate mortgages (FRMs) and hybrid adjustable-rate mortgages (ARMs) making up 77.0% and 23.0% of the pool, respectively.
  • This analysis is further described in our U.S. RMBS Rating Methodology.
  • To access ratings and relevant documents, click here .

Philip R. Lane: Interview with Het Financieele Dagblad

Retrieved on: 
Tuesday, October 17, 2023
People, Federal Reserve, PEPP, Fed, Decision-making, Communication, Fixed-rate mortgage, Risk, Frankfurt, Government Council for Foreign Affairs and Defence, European Central Bank, Unanimity, History, Joost, Bank of England, Het Financieele Dagblad, Policy, APP, Hawk, Board of directors, Executive Board of the European Central Bank, Uncertainty, Face, ECB, Reproduction, Management, Cryptocurrency, Bank, Creative industries, Dairy, Eurosystem, QE
Key Points: 

KBRA Assigns Preliminary Ratings to Cross 2023-H1 Mortgage Trust (CROSS 2023-H1)

Retrieved on: 
Tuesday, July 25, 2023
Banking, Professional Services, Insurance, Finance, Fixed-rate mortgage, Wild Arms, KBRA, RMBS, CrossCountry, CCC, Documentation, CCM, Royal, Real estate, Telescopic sight

KBRA assigns preliminary ratings to six classes of mortgage pass-through certificates from Cross 2023-H1 Mortgage Trust (CROSS 2023-H1), an inaugural RMBS transaction issued under the Hildene-CCC Loan Acquisition, LLC (CROSS) shelf, where Hildene Capital Management (Hildene) in affiliation with CrossCountry Mortgage (CrossCountry or CCM) and CrossCountry Capital (CCC) sponsored the transaction.

Key Points: 
  • KBRA assigns preliminary ratings to six classes of mortgage pass-through certificates from Cross 2023-H1 Mortgage Trust (CROSS 2023-H1), an inaugural RMBS transaction issued under the Hildene-CCC Loan Acquisition, LLC (CROSS) shelf, where Hildene Capital Management (Hildene) in affiliation with CrossCountry Mortgage (CrossCountry or CCM) and CrossCountry Capital (CCC) sponsored the transaction.
  • The $303.4 million transaction is collateralized by a pool of 542 residential mortgages originated by CCM, including a meaningful concentration of collateral that KBRA considers to be “non-prime”, with fixed-rate mortgages (FRMs) and hybrid adjustable-rate mortgages (ARMs) making up 70.5% and 29.5% of the pool, respectively.
  • This analysis is further described in our U.S. RMBS Rating Methodology.
  • To access ratings and relevant documents, click here .

Guild Mortgage Named a Top Ten Lender by Maine State Housing Authority

Retrieved on: 
Friday, July 21, 2023
Public Policy, Government, Construction & Property, State, Local, Finance, Banking, Professional Services, Other Construction & Property, Residential Building & Real Estate, Housing, Guild, First home saver account, Fixed-rate mortgage, History, Military personnel, USDA, FHA, NYSE, Real estate

Guild Mortgage (NYSE: GHLD), a growth-oriented mortgage lending company originating and servicing residential loans since 1960, was named a Maine State Housing Authority Top Ten Lender for 2022 for its work with the state’s First Home Loan Program for first-time homebuyers in Maine.

Key Points: 
  • Guild Mortgage (NYSE: GHLD), a growth-oriented mortgage lending company originating and servicing residential loans since 1960, was named a Maine State Housing Authority Top Ten Lender for 2022 for its work with the state’s First Home Loan Program for first-time homebuyers in Maine.
  • The Maine State Housing Authority ( MaineHousing ) is an independent authority created by the Maine State Legislature in 1969 to address problems of unsafe, unsuitable, overcrowded and unaffordable housing.
  • MaineHousing administers several federal housing-related programs that reduce the costs associated with housing for people in the state.
  • “It’s an honor to be recognized by MaineHousing for our efforts to assist first-time homebuyers in Maine,” said Mike Ianno, regional vice president for Guild Mortgage.

Luis de Guindos: A resilient banking sector for the euro area

Retrieved on: 
Thursday, May 18, 2023
Gaps, Review, European Central Bank, Addition Financial, Housing, Civil service commission, Face, Fixed-rate mortgage, Communication, Wave, NPL, Shock, EBA, Common equity, Elliott District Community Government Council, Attention, Amortization, Element, Frankfurt, NPL network, Credit Suisse, EDIS, Risk, Bank, ECB, Income, Buffer, CMU, Growth, CRE, Reproduction, Environment, European Commission, Security printing, Creative industries, Management, Security (finance), Real estate, Renewable energy, Cryptocurrency, EU, Basel
Key Points: 

nesto's Spring 2023 Mortgage and Housing Report: Buyers and Homeowners Beware of Good News

Retrieved on: 
Thursday, April 6, 2023
Fixed-rate mortgage, Policy, ASC, Bank, Doctor of Philosophy, Housing, Real estate

MONTREAL, April 06, 2023 (GLOBE NEWSWIRE) -- nesto , a leading Canadian mortgage lender, officially released its quarterly report today, Making Sense of the Housing Market in a Fluctuating Economy .

Key Points: 
  • MONTREAL, April 06, 2023 (GLOBE NEWSWIRE) -- nesto , a leading Canadian mortgage lender, officially released its quarterly report today, Making Sense of the Housing Market in a Fluctuating Economy .
  • The whitepaper, authored by Francis Gosselin, nesto’s consulting economist, examines how factors such as inflation, interest rates, and housing supply affect this year’s market.
  • The report forecasts that the Bank of Canada will likely pause rate increases through the spring, but homebuyers should remain alert.
  • They should stop waiting for prices to fall further; if they can, they should act now before competition grows or rates hike again.

Alluring Cash-out Refinance Offers Can Be Financial Trap for Homeowners

Retrieved on: 
Monday, March 20, 2023
Oak Park Regional Housing Center, Center for Responsible Lending, HELOC, Housing, Federal Housing Administration, HEL, Research, American Enterprise Institute, Organization, ATM, United States Department of Veterans Affairs, FHA, CRL, Fixed-rate mortgage, AEI, FICO, The, Environment, Real estate, Credit, Bank

WASHINGTON, March 20, 2023 /PRNewswire/ -- Non-bank lenders are making cash-out refinance mortgage loans guaranteed by the Federal Housing Administration (FHA) and Veterans Administration (VA) to cash-strapped homeowners – particularly low wealth and veteran borrowers and those in communities of color – that can provide a quick influx of cash but leave the borrower in a trap that can worsen their financial stability for years to come.

Key Points: 
  • Borrowers with credit scores below 660 constitute an increasing share of FHA and VA cash-out refinance borrowers.
  • According to AEI Housing Center and CRL, borrowers with FHA and VA mortgages, typically minority, low-wealth and veteran homeowners, constitute a growing share of cash-out refinance borrowers.
  • Over the past two years, the composition of FHA and VA cash-out refinance borrowers has shifted toward lower FICO score borrowers.
  • The average FICO score of borrowers obtaining a VA cash-out refinance loan fell from 730 to 675.

Economic Headwinds Impacting Debt Levels and Credit Payment Behaviour

Retrieved on: 
Thursday, March 9, 2023
Movement, Fixed-rate mortgage, St. Louis Fed Financial Stress Index, Education minister, Oakes, Equifax, Overalls, Housing, Equifax Canada, Ageing, Cryptocurrency, Credit, Video game, Real estate

Non-mortgage debt levels continued to rise and were up by 5.4 per cent compared to Q4 2021.

Key Points: 
  • Non-mortgage debt levels continued to rise and were up by 5.4 per cent compared to Q4 2021.
  • This increase was visible across all consumer segments but especially among millennials aged 27-42 which saw an above average jump of 8.4 per cent in non-mortgage debt levels.
  • Younger consumers 35 years and under saw the greatest movement in overall credit card debt but all age groups saw balances rise.
  • Consumer proposals were up by 26.4 per cent in Q4 2022 compared to last year but remained lower than pre-pandemic levels.

March Bank of Canada Announcement Has Potential for the Best Homebuying Season Canadians Have Seen in Months

Retrieved on: 
Wednesday, March 8, 2023
Research, Fixed-rate mortgage, Environment, Housing, Anxiety, News, City, Bank, Bank of Canada, Entrepreneurship, Real estate

This is excellent news for potential homeowners looking to enter the market and purchase this spring season.

Key Points: 
  • This is excellent news for potential homeowners looking to enter the market and purchase this spring season.
  • Research conducted by nesto shows 70 percent of prospective homebuyers are just exploring, while 30 percent are actively seeking to enter the market.
  • This marks a complete shift from the high of mortgage season last year when 49 percent of buyers were ready to buy.
  • Plus, home prices are declining in most areas within Canada and by up to 15% lower in some Ontarian cities .

KBRA Assigns Preliminary Ratings to Towd Point HE Trust 2023-1 (TPHT 2023-1)

Retrieved on: 
Thursday, February 23, 2023
Banking, Professional Services, Finance, HELOC, RMBS, EQ, Royal, Wild Arms, Fixed-rate mortgage, KBRA, Rocket Mortgage, Spring, CES, Credit, Telescopic sight, Real estate

KBRA assigns preliminary ratings to 49 classes of mortgage-backed notes from Towd Point HE Trust 2023-1 (TPHT 2023-1), a $279.1 million RMBS transaction sponsored by FirstKey Mortgage, LLC (FirstKey).

Key Points: 
  • KBRA assigns preliminary ratings to 49 classes of mortgage-backed notes from Towd Point HE Trust 2023-1 (TPHT 2023-1), a $279.1 million RMBS transaction sponsored by FirstKey Mortgage, LLC (FirstKey).
  • The collateral totaled $284.4 million as of December 31, 2022 (the Statistical Calculation Date) and consisted of closed-end second lien mortgages (CES; 69.1%), second lien home equity lines of credit (HELOCs; 30.3%), and first lien HELOCs (0.5%).
  • The underlying pool is seasoned three months and comprises 3,394 loans originated by Spring EQ, LLC (Spring EQ; 53.4%) and Rocket Mortgage, LLC (Rocket; 46.6%).
  • To access ratings and relevant documents, click here .