Kroll Bond Rating Agency now has a new majority owner, as the credit ratings agency announced Tuesday that one of its minority investors, private-equity firm Wharf Street, acquired a majority stake in the firm.
"We are pleased to be working closely with Kroll Bond Ratings to further enhance the ratings process with our high resolution market analytics," WRR CEO Alan Weiss said. "I believe our collaboration can help deepen the quality of decisions across the residential investment marketplace."
There are a large number of abandoned homes and a large class of renters, but even when the housing market settles out and people’s credit is repaired over time, REO to rental is a growth area and potentially a permanent asset class, investors think.
The REO-to-rental securitization deal that Blackstone subsidiary Invitation Homes brought to market is just the tip of the iceberg, with KBW analysts forecasting a nearly trillion dollar market when calculating the lingering possibilities that exist for single-family rental securitization deals.
“The industry is satisfied with the status quo but it isn’t working and we desperately need to find ways to enable Americans to become homeowners," Pam Patenaude said. "We are the only group that can bring bipartisan efforts together that represent every segment of the housing industry.”
Nontraditional income earners are becoming increasingly mainstream, particularly among Millennials, who, compared to their parents and grandparents, move from job to job a lot more, are more likely to be independent contractors and may lack a solid credit profile.
Managing internal communications and preventing employees from destroying privilege, which can happen simply by including individuals outside the company on communications that are privileged, is one of the most critical aspects of litigation management.