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Items Tagged with 'Rental securitization'


Invitation Homes bringing third REO-to-rental securitization to market

Asset class becoming more popular
July 28, 2014
Of note in the presale report is the vacancy rate of the underlying properties, which stands at 4.4% as of the cutoff date. That’s lower than the vacancy rate in Invitation Homes’ previous SFR securitization in 2014, which was 5.1%, but still far above the vacancy rate of any of the other rental securitizations this year.
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Kroll weighs in on Silver Bay Realty’s $312M rental securitization

Awards $147M in AAA ratings
July 23, 2014
“Large-scale institutional ownership and management of single-family rentals is a fairly new business model and US securitization structures of the assets are still evolving,” Kroll’s presale report states. “While SBY 2014-1 is the sixth transaction of its kind, performance data for the sector is limited.”
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Colony American Homes launches second REO-to-rental securitization

Morningstar, Kroll weigh in on $558 million deal
June 17, 2014
The limited performance history of the asset class and home price volatility are cited as concerns for the offering's potential performance. The relative inexperience of the properties' manager is also a concern for the ratings agencies.
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Rental securitization earns AAA rating from Kroll, Morningstar & Moody’s

Deal is only third of its kind
May 7, 2014
The offering, called American Homes 4 Rent 2014-SFR1, is a $482.7 million single-family rental securitization. The transaction is collateralized by a single loan that is secured by mortgages on 3,871 income-producing single-family homes.
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Moody's: First rental securitization doing pretty good

3 notable developments since issuance
March 12, 2014
Moody's Investors Service, which awarded a sterling Triple-A to Invitation Homes' inaugural REO-to-rental is reporting that the performance is within expectations, with 3 notable developments.
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Wanted: High-quality renters only, please

New-wave rental securitization will tighen application guidelines
December 11, 2013
Applications filed by renters will face increased scrutiny as rental securitizations take off. The creation of a single form to have renters fill out and then verify would likely standardize this process to a degree more acceptable to a credit ratings agency such as Morningstar.
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Rental securitization market could hit $5 billion next year

Deutsche Bank: Student loan debt locks out potential homebuyers
December 5, 2013
Eight years since the peak of the rate of homeownership in America, the market for single-family rental securitizations is set to grow larger and larger.
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