Progress Residential launching second single-family rental securitization

Progress Residential enters $5bn-plus SFR securitization arena. Progress Residential is the sixth major residential home owner to securitize part of its housing stock through the bond markets. The 10th offering of its kind, Progress 2014-SFR1 builds the total SFR asset class, backed by income-producing rental homes, to a nearly $5.4bn business.

NEW YORK (Standard & Poor’s) Feb. 27, 2014–As securitization continues to evolve in the single-family rental (SFR) sector, with projected issuance in both the single- and multiple-borrower segments, Standard & Poor’s Ratings Services has yet to see an SFR transaction with the level of credit

Sales down, prices up in RE/MAX February housing report DENVER – Riding two trends-declining sales and growing inventory- the U.S. housing market continued to transition from a seller’s market to a buyer’s market in February, according to the RE/max national housing Report. Home sales in the 54-market report have declined year-over-year for seven consecutive months, though February’s downturn of 4.2% was the smallest since the 1.1% drop.

By News feed After launching its first single-family rental securitization in September 2014, Progress Residential is prepping its second such offering, which will be larger than the company’s first securitzation. Progress Residential 2015-SFR1 is collateralized by a $563 million loan secured by first priority mortgages on 4,028 income-producing single-family homes.

Home prices ‘bottoming now,’ BofA Merrill Lynch analysts say Levi’s reported a beat on the top and bottom lines, although adjusted EBITDA fell short of expectations by around 3.5%, Balsky said in a Wednesday note. Levi’s revised guidance implies constant.

Progress Residential is refinancing a portfolio of single family rental properties it has previously securitized – in some cases, for a second time. The company, which is controlled by Pretium Partners, is cashing out some equity it has built up in the underlying properties in the process, according to Kroll Bond Rating Agency.

We also committed $50 million of capital in early August to purchase short-term residential. during the second quarter, capturing $12 million of previously unrealized gains. I’ll complete with a.

and support affordable rental housing and the liquidity of the multifamily finance market in 2016. The FHFA report shows that both of the GSEs’ made progress in those areas in 2016. One area.

A Contrarian View on the Single-Family Rental Market. More than two years after the first single-family rental securitization, the single-family rental market continues to evolve and grow.

For the second quarter in a row, we achieved our stated goal of an ROE of at least 10%. This reflects continued progress in steadily growing. whether it’s single family rental, fix and flip. I mean.

percent of all single-family rentals are owned by small investors with only one property and 85 percent are owned by those who own 10 or fewer properties (Rahmani, Tomasello, and Jones 2016). So the GSEs cover 85 percent of the single-family rental market by extending loans to small investors through single-family financing.

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