Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

Why brokerages and mortgage lenders are rushing into JVs

Joint ventures are suddenly stitched into the fabric of a handful of national brokerages. But the idea of the joint venture collides with the loose, informal networks that color the American housing economy.

How to simplify the appraisal process for everyone in today’s hot market

While the world might be slowly getting back to normal, the housing boom is far from over. Appraisers need to make sure they have the right tools to manage the high demand.

Robert Dietz on why the single-family rental market is growing

In this episode of HousingWire Daily, NAHB's Robert Dietz explains why the marketshare of single-family rentals is growing despite strong homebuyer demand. He also discusses the NAHB’s latest Housing Market index.

Walter Investment ‘confidently’ closes $135 million private placement RMBS

Just days after Walter Investment Management (WAC) announced it wants to acquire roughly $90 million in residential first-lien mortgage pools, the real estate investment trust announced the closing of a privately placed $135 million residential mortgage backed securitization. The notes were issued by Mid-State Capital Trust 2010-1. Mid-State is the newly formed statutory trust sponsored by Walter Investment. The executive vice president of the REIT notes that he feels access to the securitization market is beginning to open up and this deal exemplifies that opinion. “We are confident that our ability to access the securitization market on an on-going basis, coupled with our ability to consistently deploy capital on attractive terms, positions us to achieve our growth objectives,” said Denmar Dixon, EVP of Walter Investment. $56 million in principal amount of the Class A notes are rated triple-A by Standard & Poor’s and $78 million in principal amount Class M notes are rated single-A. The notes sold at initial interest rates of 3.5% and 5.25% per year, respectively, with a legal maturity in December 2045. The notes are backed primarily by U.S. residential mortgage loans. Pending sale contracts from builders, promissory notes and the like, are also collateralized in some of the bonds. “This transaction not only allows Walter Investment access to a key funding source, but also represents the culmination of the efforts of the numerous parties involved in the transaction,” said Mark O’Brien, CEO of Walter Investment, “all of whom shared a common goal of contributing to the revitalization of the securitization market for residential mortgage assets.” The offering is a private placement under SEC Rule 144A. Tampa-based Walter Investment is a mortgage servicer and portfolio owner specializing in subprime mortgages, with $1.8 billion of assets under management and $180 million in annual revenue. Write to Jacob Gaffney. The author holds no relevant investments.

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