In a deal that will shake up the single-family rental industry, Tricon Capital Group announced this week that it plans to acquire Silver Bay Realty Trust in a $1.4 billion deal that will create one of the country’s largest operators of single-family rental homes.
There’s a new face in the single-family rental securitization market — Tricon American Homes. The company began acquiring U.S.-based single-family rentals in April 2012, and is preparing its first single-family rental securitization.
For anyone actively working in the mortgage industry, it’s no secret that reverse mortgages have taken a brutal hit in the last two years. The U.S. Department of Housing and Urban Development issued major program changes at the end of 2017 that effectively limited the amount of proceeds and the number of people who could qualify for the loan. The result had lenders across the space enduring sizable volume drops and subsequent gashes to their bottom lines.