REO

Granite Point Mortgage Trust Inc. Reports Second Quarter 2023 Financial Results and Post Quarter-End Update

Retrieved on: 
Tuesday, August 8, 2023
REIT, Finance, Professional Services, Commercial Building & Real Estate, Construction & Property, Morgan Stanley, REO, GAAP, Baozou Big News Events, Tenant, Granite, Internet, Goldman Sachs, LTV, USPAP, Access, CECL, Hand, NYSE, News, GPMT, J. P. Morgan, UPB, Rare-earth element, Airline, Bank, Holding company, Security (finance)

Granite Point Mortgage Trust Inc. (NYSE: GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter ending June 30, 2023, and provided an update on its activities subsequent to quarter-end.

Key Points: 
  • Granite Point Mortgage Trust Inc. (NYSE: GPMT) ("GPMT," "Granite Point" or the "Company") today announced its financial results for the quarter ending June 30, 2023, and provided an update on its activities subsequent to quarter-end.
  • A presentation containing second quarter 2023 financial results can be viewed at www.gpmtreit.com .
  • Granite Point Mortgage Trust Inc. will host a conference call on August 9, 2023, at 11:00 a.m.
  • ET to discuss second quarter 2023 financial results and related information.

Great Ajax Corp. Announces Results for the Quarter Ended June 30, 2023

Retrieved on: 
Thursday, August 3, 2023
Banking, Construction & Property, Professional Services, REIT, Operating cost, Plan, REO, EFC, Tripura Merger Agreement, Investment, HTM, Stock dilution, Sub, AOCI, EF, AFS, GAAP, Great, Sale, Trust, Acquisition, Ajax, Risk, CECL, Condition subsequent, Appendix, UPB, Bank, Life insurance, Cryptocurrency, Security (finance), Mergers and acquisitions

Our net interest income for the quarter ended June 30, 2023, excluding any adjustment for expected credit losses was $3.3 million, a decrease of $0.2 million over the prior quarter.

Key Points: 
  • Our net interest income for the quarter ended June 30, 2023, excluding any adjustment for expected credit losses was $3.3 million, a decrease of $0.2 million over the prior quarter.
  • Our interest expense for the quarter ended June 30, 2023 increased $0.1 million compared to the prior quarter primarily as a result of rate increases on our floating rate repurchase financing.
  • For the quarter ended June 30, 2023, this amortization resulted in a recapture of book value of $1.1 million through the recovery of AOCI compared to $2.0 million for the quarter ended March 31, 2023.
  • We ended the quarter with a GAAP book value of $11.86 per common share, compared to a book value per common share of $12.58 for the quarter ended March 31, 2023.

MFA Financial, Inc. Announces Second Quarter 2023 Financial Results

Retrieved on: 
Thursday, August 3, 2023
REIT, Finance, Professional Services, Residential Building & Real Estate, Construction & Property, REO, MFA, MBS, Internet, Eastern Time Zone, Risk management, RMBS, GAAP, LTV, Agency, Non-performing loan, NYSE, UPB, Textile, Bank, Security (finance), Real estate

MFA Financial, Inc. (NYSE:MFA) today provided its financial results for the second quarter ended June 30, 2023.

Key Points: 
  • MFA Financial, Inc. (NYSE:MFA) today provided its financial results for the second quarter ended June 30, 2023.
  • Second Quarter 2023 financial results update:
    MFA generated a GAAP net loss for the second quarter of $34.1 million, or $0.34 per basic and diluted common share.
  • MFA paid a regular cash dividend for the quarter of $0.35 per share on July 31, 2023.
  • MFA Financial, Inc. plans to host a live audio webcast of its investor conference call on Thursday, August 3, 2023, at 11:00 a.m. (Eastern Time) to discuss its second quarter 2023 financial results.

LINDIAN REPORTS MAIDEN MINERAL RESOURCE ESTIMATE OF 261 MILLION TONNES AT HIGH GRADE OF 2.19% TREO

Retrieved on: 
Thursday, August 3, 2023
Diamond, Lithium, Inference, REE, REO, Archimedes, Insitu, Mineral resource estimation, Face, Classification, KNA, Resource, Competent person, ASX, NSR, RC, MRE, Element, HQ, Acquisition, Leapfrog, Mining, Transaction, CRM, RCD, Lac Minerals Ltd v International Corona Resources Ltd, QAQC, ALS, PVC, Rare-earth element, Road, Printed circuit board, Telescopic sight, Rift valley, Lindian County, TB

SYDNEY, Aug. 2, 2023 /PRNewswire/ -- Lindian Resources Limited (ASX:LIN) ("Lindian" or "the Company") is pleased to announce the maiden Mineral Resource Estimate (MRE) for the Kangankunde Rare Earths Project in Malawi of 261 million tonnes averaging 2.19% TREO above a 0.5% TREO cutoff grade. The resource is entirely Inferred status, has been estimated in accordance with JORC 2012 guidelines and is summarised in Table 1.

Key Points: 
  • To date, Lindian has paid US$20.0 million in cash and is the registered owner of 67% of the shares in Rift Valley.
  • Similar to many rare earth deposits, the main rare earth containing mineral in the deposit is monazite.
  • Estimation domaining utilised multi-element relationships from minor rock chemistry and rare earth mineralisation to define five domains within the overall carbonatite limits.
  • The Mineral Resource has been reported above a 0.5% total rare earth oxide (TREO) cut-off.

Ellington Financial Reports Preliminary Results for Second Quarter 2023

Retrieved on: 
Monday, July 24, 2023
Professional Services, Finance, Borrowing base, LLP, REO, Loss, EFC, Bank statement, REIT, GAAP, Ratio, Forecasting, PwC, Acquisition, Investment, Vii, NYSE, Cryptocurrency, Holding company, Insurance, Real estate

The above information is preliminary and subject to completion, including the completion of customary financial statement closing and review procedures for the quarter ended June 30, 2023.

Key Points: 
  • The above information is preliminary and subject to completion, including the completion of customary financial statement closing and review procedures for the quarter ended June 30, 2023.
  • The Company’s actual financial results for the quarter ended June 30, 2023 may differ materially from these preliminary financial results, and may be outside the estimated ranges.
  • Further, these preliminary estimates are not a comprehensive statement or estimate of the Company’s financial results for the quarter ended June 30, 2023.
  • In the “Preliminary Second Quarter Results” section above, the Company presents an estimated range of its Adjusted Distributable Earnings per share of common stock for the quarter ended June 30, 2023.

PROFITS ON HOME SALES REBOUND ACROSS U.S. IN SECOND QUARTER OF 2023 AS HOUSING MARKET REVIVES

Retrieved on: 
Thursday, July 20, 2023
Metro, REO, Housing, Statistics, Typical, Margin, Record, Profit margin, Great, Pueblo, Colorado, Sale, Lincoln, Report, AL, Federal Housing Administration, FHA, Seneca, South Carolina, Pharmaceutical industry, Property management, Video game, Real estate, Arms industry, Chemical, Drug, Security (finance), MD

IRVINE, Calif., July 20, 2023 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its second-quarter 2023 U.S. Home Sales Report, which shows that profit margins on median-priced single-family home and condo sales in the United States increased to 47.7 percent in the second quarter – the first gain in a year.

Key Points: 
  • Gross profits also shot up from the first to the second quarter of 2023.
  • The about-face in profits and prices around the U.S. during the second quarter reflected a housing market in flux.
  • Prices and profits went back up in the second quarter during the start of the annual buying season, helped along by several forces.
  • Metro areas were included if they had sufficient population and at least 1,000 single-family home and condo sales in the second quarter of 2023.

FORECLOSURE ACTIVITY IN FIRST HALF OF 2023 TICKS UPWARDS TOWARDS PRE-COVID LEVELS

Retrieved on: 
Thursday, July 13, 2023
REO, Citrus, Arms industry, Video game, Cryptocurrency

IRVINE, Calif., July 13, 2023 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its Midyear 2023 U.S. Foreclosure Market Report, which shows there were a total of 185,580 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in the first six months of 2023. That figure is up 13 percent from the same time period a year ago and up 185 percent from the same time period two years ago.

Key Points: 
  • "Similar to the first half of 2022, foreclosure activity across the United States maintained its upward trajectory, gradually approaching pre-pandemic levels in the first half of 2023," stated Rob Barber, CEO for ATTOM.
  • "Although overall foreclosure activity remains below historical norms, the notable surge in foreclosure starts indicates that we may continue to see a rise in foreclosure activity in the coming years."
  • Nationwide, 0.13 percent of all housing units (one in every 752) had a foreclosure filing in the first half of 2023.
  • The national foreclosure activity total in Q2 2023 was 65 percent below the pre-recession average of 278,912 per quarter from Q1 2006 to Q3 2007.

U.S. FORECLOSURE ACTIVITY SEES SPIKE IN MAY 2023

Retrieved on: 
Thursday, June 8, 2023
Database, REO, Housing, NTS, REO Motor Car Company, File, NOD, NFS, Real estate owned, LIS, Foreclosure, Real estate, Maid service, Commercial property, MD

IRVINE, Calif., June 8, 2023 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its May 2023 U.S. Foreclosure Market Report, which shows there were a total of 35,196 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 7 percent from a month ago and up 14 percent from a year ago. 

Key Points: 
  • Nationwide one in every 3,967 housing units had a foreclosure filing in May 2023.
  • Greatest numbers of foreclosure starts in Florida, California and Texas
    Lenders started the foreclosure process on 23,245 U.S. properties in May 2023, up 4 percent from last month and up 5 percent from a year ago.
  • States that had the greatest number of foreclosure starts in May 2023 included: Florida (2,901 foreclosure starts); California (2,451 foreclosure starts); Texas (2,286 foreclosure starts); Illinois (1,358 foreclosure starts); and New York (1,287 foreclosure starts).
  • Those major metropolitan areas with a population greater than 1 million that had the greatest number of foreclosure starts in May 2023 included: New York, NY (1,452 foreclosure starts); Chicago, IL (1,163 foreclosure starts); Houston, TX (811 foreclosure starts); Los Angeles, CA (700 foreclosure starts); and Philadelphia, PA (677 foreclosure starts).

Miami Real Estate Luxury Home Sales Continue Surging Ahead of Pre-Pandemic Levels; 45% of All Miami $1M+ Sales Have Happened Since March 2020

Retrieved on: 
Thursday, May 18, 2023
MLS, State, REO, AGI, Partnership, Housing, IRS, REO Motor Car Company, NAR, Statistics, Multiple listing service, Sale, Freddie Mac, News, Real estate, Drug, Cryptocurrency, Property management, Citrus, Arms industry

MIAMI, May 18, 2023 /PRNewswire-PRWeb/ -- Miami-Dade County $1 million+ luxury home sales continued outperforming pre-pandemic levels as total median sale prices rose once again as the market leads the nation in real estate appreciation, according to April 2023 statistics released by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.

Key Points: 
  • About 45% of all Miami luxury sales have happened since March 2020, the start of the pandemic.
  • "Rising mortgage rates and the banking distress in March tripped up April's home sales," MIAMI REALTORS® Chief Economist Gay Cororaton said.
  • Cash sales represented 37.9% of Miami closed sales in April 2023, compared to 43.8% in April 2022.
  • Cash sales accounted for 50.5% of all Miami existing condo sales and 22.7% of single-family transactions.

Meghann Salamasick Joins Riemer & Braunstein’s Real Estate Finance Team in Chicago

Retrieved on: 
Thursday, May 18, 2023
Commercial Building & Real Estate, Legal, Construction & Property, Finance, Banking, Small Business, Accounting, Professional Services, Real estate investment trust, REO, University, Real estate, Multimedia, Riemer

Riemer & Braunstein LLP , a law firm specializing in representing financial institutions, life insurance companies, and debt funds in real estate and commercial transactions, announced that Meghann Salamasick joined the firm as a partner in its Chicago office.

Key Points: 
  • Riemer & Braunstein LLP , a law firm specializing in representing financial institutions, life insurance companies, and debt funds in real estate and commercial transactions, announced that Meghann Salamasick joined the firm as a partner in its Chicago office.
  • Meghann is an experienced real estate finance attorney who brings to the firm a broad range of experience representing institutional and non-institutional lenders in bilateral and syndicated commercial transactions.
  • View the full release here: https://www.businesswire.com/news/home/20230518005132/en/
    “The addition of Meghann to our Chicago office will expand the firm’s capabilities in representing our institutional clients in the Midwest and nationally,” said Matt Nash, the managing partner of the firm’s Chicago office and a Co-Chair of the firm’s Real Estate Finance Practice Group.
  • Further, Meghann has extensive experience in special assets portfolio management, negotiations with distressed debtors, and structuring optimal recovery of collateral.