Wall Street’s teetering new rental empire.. The companies issuing bonds backed by their single-family home rentals have assured investors that this strategy is a perfectly safe way to return some liquidity to the recovering housing market while providing a boost to the economy at large.
Steve Schwarzman’s Blackstone Group LP is now planning to sell bonds backed by lease payments. What Lurks in Bonds Tied to Subprime Autos Anyone’s Guess – Auto debt outstanding rose to a record $919 billion at the end of June, according to Federal Reserve data compiled by Bloomberg.
DLA Piper: Richmond eminent domain battle just beginning CFPB targets zombie foreclosures New 30-year debt: FHA to collect MIPs for life of mortgage HUD 4000.1 On Appraisal Expiration Dates – FHA News and Views – HUD 4000.1 On Appraisal Expiration Dates. Ever since the FHA and HUD published the new FHA single-family mortgage loan rule book, HUD 4000.1, we’ve been examining important sections of the rules to see what current fha mortgage loan policy is; FHA and HUD announced there would be no comparison document outlining the myriad of changes from the old guidelines to new and that it was.Zombie Foreclosures | Nolo – Zombie foreclosures also harm neighborhoods. When properties are vacant and show obvious signs of neglect, it can drag down the value of the entire neighborhood. These unattended homes are also susceptible to vandalism, squatters, and crime. Zombie Foreclosures in Wisconsin. In the case of The Bank of New York Mellon v.The decision by the city of Richmond, Calif., to seize mortgages via eminent domain could harm not only retirement funds and future mortgage lending, but also the very homeowners that the plan sets.
Wall Street’s Hot New Financial Product: Your Rent Check. firm released the first-ever rated bond backed by securitized rental payments.. to buy into the 9 million bond, Blackstone’s.
Municipal bonds. Revenue bonds are not backed by the full faith and credit of the issuer. Insured bonds are backed by a guarantee from a municipal bond insurer. If an issuer defaults on payments, the insurer promises to make timely payments of interest and principal when due-subject to.
This month cdfa examines lease/appropriation-backed bonds, which include lease revenue bonds and Certificates of Participation. Many states use these obligations to finance capital needs. They are an attractive alternative to general obligation bonds that require the approval of voters at a referendum.
2012 marks milestone year for Trulia Rio Rancho’s 1,600-acre Mariposa community marks milestone next week – It’s been quite a journey in recent years. 2012. But in recent months it appears to have gained positive momentum. So the new owner and developer, Harvard Investments, are hosting a grand opening.
· Invitation Homes, the 2012 buy-to-rent creature of private-equity firm Blackstone, and now owner of 48,431 single-family homes, thus the largest landlord of single-family homes in the US, accomplished another feat: it obtained government guarantees for $1 billion in rental-home mortgage backed securities.
Now, the private-equity firm is planning to sell bonds backed by lease payments, which is a step in a new direction for the housing industry.
· In 2013, Blackstone partnered with Deutsche Bank to offer the first “single-family rental-backed security” to Wall Street investors, priced at $480 million. Since then, Wall Street firms have sold more than $9.8 billion of these bonds backed by rents for single-family homes.
DeMarco says FHFA will not consider principal write-downs DeMarco: No Principal Write-Downs For Underwater Mortgages – Federal Housing Finance agency (fhfa) acting director edward demarco continues to refuse to consider allowing Fannie Mae and Freddie Mac to write down mortgage principal for borrowers with underwater mortgages. The los angeles times reports that DeMarco, in an appearance yesterday before the U.S. Senate Committee on Banking, Housing and Urban Affairs, insisted that the [.]
Blackstone to Self-fund with Bond Sales. Private-equity firm Blackstone Group, which has spent $20 billion acquiring some 200,000 single-family homes that it turned into rentals, is preparing to sell lease payment-backed bonds, Bloomberg reported Oct. 23.
The lender, in turn, can sell these assets to a trust or "special purpose vehicle," which packages them into an asset-backed security that can be sold in the public market. The interest and principal payments made by consumers "pass through" to the investors that own the asset-backed securities.