Friday, March 16, 2018
In a deal the company claims is a first of its kind, Angel Oak Capital Advisors recently completed a $90 million securitization backed by fix-and-flip loans. The securitization’s structure is unique because the terms of the underlying loans expire before the securitization does. As such, new loans will replace the paid-off loans in the securitization.
Less lenders are choosing to ease their credit standards, despite their negative profit margins. Mortgage lenders reported a net negative profit margin outlook for the sixth consecutive quarter, matching the all-time low reading from the fourth quarter in 2016.
The Barrent Group, a mortgage loan due diligence, quality control and consulting services provider, announced this week it recently named Art Yeend to serve as the company’s business development director. Yeend comes to company with more than 30 years of experience in capital markets, sales and production in the mortgage industry and on Wall Street.
Two prominent private equity firms are buying EDR, a provider of real estate data and software-as-a-service, for $205 million, the companies announced earlier this week. The buyers for EDR, which provides property due-diligence and risk management technology and information, are Silver Lake and Battery Ventures.
Builder confidence dipped in March, falling for the third consecutive month, however it is still at a high level historically. The National Association of Home Builders cautioned builders are reporting challenges in finding buildable lots, which could limit their ability to meet demand.
CoreLogic did not appropriately provide property data to ATTOM Data Solutions as was required by a 2014 agreement with the Federal Trade Commission relating to CoreLogic’s acquisition of DataQuick Information Systems, the FTC said this week.
Real estate investment firm Waypoint Residential announced Friday it added three members to its senior team to bolster the firm’s operations. The company has named Doug Wolski managing director of portfolio management, James Driscoll to the role of senior vice president of development and Gina Lujan as vice president of talent.