Capital Markets Today

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DDC European Investment Series, Spain's NPL Market, Enrich - Sareb Dec 27, 2016

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Welcome to Capital Markets Today and the DDC Financials' series of European Investment Forum podcasts. Capital Markets Today listeners can use code NSCM30 for a 30% discount to the European Investment Summit being held in Miami USA on March 8 & 9th 2017 The global financial crisis decimated Spain's real estate development market and increased the NPL ratio from 1 per cent pre-crisis to more than 10 per cent in 2012. This translated into Spanish banks holding more than €500 billion of distressed assets at the peak of the crisis. Thanks to a comprehensive restructuring of the Spanish financial sector, which included the creation of the Spanish "bad bank" Sareb, which absorbed more than €50 billion of distressed assets, the Spanish banks have been able to reduce the total volume of distressed assets to approximately €215 billion, of which approximately €85 billion are real estate owned properties (REOs). This reduction in the volume of distressed assets has been achieved through sales of portfolios of distressed assets, which in 2015 amounted to €15 billion. This figure is likely to reach €19 billion in 2016, and will continue to rise in 2017. Joining the broadcast today to discuss the Spanish NPL market is Manuel Enrich, Investor Relations Director for Sareb. Sareb is the asset management company for distressed assets arising from the banking sector reorganization.

IMN NPL/RPL Series - NPL Trading - Pollio / SN Servicing Trade Desk Dec 20, 2016

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Welcome to Capital Markets Today and the IMN's series of NPL & RPL Forum podcasts. Capital Markets Today listeners can use code SP20 for a 20% discount to IMN's NPL/RPL Forum East being held on January 19-20th 2017 Researchers from the Urban Institute indicate more pools of non-performing loans need to be sold to private investors. Earlier this year, a report from the Urban Institute's Housing Finance Policy Center, stated that private investors can do more for borrowers than the government or large institutions, and is encouraging more NPLs to be sold to private investors. The report summarizes that private investors have greater flexibility to modify nonperforming loans and mitigate losses. As of mid-2016, HUD has sold more than 105 thousand NPLs and FNMA & Freddie have sold more than 40 thousand NPLs. These large transactions will feed the secondary and tertiary markets in 2017. Joining the broadcast today to discuss NPL trading is David Pollio, Managing Director of Acquisitions at SN Servicing. David Manages and Operates the SN Servicing Trading Desk. He has more than 26 years of experience in Analyzing, Negotiating and Acquiring Performing, Sub-performing, and Non-Performing residential and Commercial assets.

IMN NPL/RPL Series - NPL Market - Tenebaum / Prosperity Investment Fund Dec 14, 2016

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Welcome to Capital Markets Today and the IMN's series of NPL & RPL Forum's podcasts. Capital Markets Today listeners can use code SP20 for a 20% discount to IMN's NPL/RPL Forum East being held on January 19-20 2017 According to recent reporting, Fannie Mae and Freddie Mac have sold over 59 thousand non-performing loans with an aggregate unpaid principal balance $11.9 billion. With the addition of three months-worth of data, this bumped the number of loans sold up by nearly 18,000 loans and $3.4 billion from the previously issued data. The number of loans that resulted in foreclosure avoidance also increased within the three months over 5 percent from 12 percent to 17.1 percent as of August 2016. With the information FHFA has received with NPLs sold by December 31, 2015, the agency says that only 31 percent of the loans have been resolved. All this to say that the NPL market will continue to be brisk in 2017 via the primary, secondary and tertiary markets. Joining the broadcast today to discuss the NPL market is Jay Tenebaum, Managing Member & Director of Capital Investments of Prosperity Investment Fund. Prior to launching Prosperity, Jay was an attorney with over twenty years of debt collection experience.

IMN SFR Series, SFR Market Place - Beasley, CEO of Roofstock Dec 01, 2016

Show notes

Up until recent years, REITs were the option of choice for investors who wanted to invest in real estate, but lacked a strong professional background in the industry. The economic crisis, low interest rates and the rise of sophisticated trading methodologies led millions of investors to search for alternative ways to search out, invest and manage real estate investments. Crowd funding became a popular platform for investors to access the market. Joining the podcast today is Gary Beasley, CEO of Roofstock. Roofstock is the first online marketplace created exclusively for investing in leased Single-Family Rental homes that generate cash flow day one. It's also one of the fasting growing startups and has just announced another $20mm B round participation led by Lightspeed Venture Partners. Prior to founding Roofstock, Gary was co-CEO of Starwood Waypoint Residential, one of the leading single family rental companies in the US.

IMN SFR Series, SFR Securitizations - Grow/Dwyer, Morningstar Credit Ratings Nov 16, 2016

Show notes

The single-family rental asset class continues to evolve. At least 29 single-family rental deals have come to market, with issuance over $13 billion. Multi-borrower securitization, including single-borrower and single-property loans, will drive the long-term growth in single-family rental issuance. According to the October 2016 Morningstar Single Family Rental Research report · Rents for properties backing single-family rental securitizations rose by 4.6%. · Vacancy rates across single-borrower, single-family rental transactions edged up 5.0% in September. · Houston had the highest vacancy rate at 7.4%. · Some Florida MSAs have shown recent upticks in vacancy. · Average retention rates for full-term leases stayed in the mid-70s. · Morningstar is currently monitoring 25 single family deals that include over 97,000 properties. Joining the podcast today to discuss single family rental securitizations is one of the authors of the report, Brian Grow, Head of Residential mortgage-backed security ratings at Morningstar Also joining is Kevin Dwyer, Senior Vice President of Morningstar Structed Credit Ratings. Kevin rates RMBS and Single Family Rental transactions

IMN SFR Series, Fix & Flip Financing, Filler – Jordan Capital Nov 07, 2016

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IMN Single Family Rental Conference Dec 5-7, 2016. CMT listeners can use code SP20 for a 20% discount. The fix and flip industry has become a very popular and profitable business as the housing market continues to recover. According to RealtyTrac, the average return on investment for house flippers grew from about 20 % in 2011 to 35 % to 2015. In some parts of the country, 8-10 % of all single-family home sales are fix and flips. There are three main financing options for investors to grow their business: bank Loans, private money loans and real estate crowd funding. Joining the podcast today is Mark Filler, CEO of Jordan Capital Finance. Jordan Capital Finance is a direct private money lender serving residential real estate investors who acquire, renovate, rent, and sell properties. Prior to founding Jordan Capital Finance, Mark co-founded Prism Financial Corporation and was the was the sole founder of Prospect Mortgage which is currently one of the largest independent retail mortgage lenders.

Single Family Rental & Affordability Gap-R. Gorelick, Gorelick Brothers Capital Oct 11, 2016

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One well-publicized consequence of the housing recession has been a decline in the homeownership rate in the U.S. Falling house prices, job losses, increased foreclosures, and tightened consumer mortgage credit have all contributed to this trend. Not only has this led to an increase in the rate of rentership overall, it has contributed ever widening affordable gap for renters wanting to purchase homes and renters looking for affordable rent. Joining the broadcast today to discuss the single family rental environment and the affordability gap is Rael Gorelick with Gorelick Brothers Capital. Rael Gorelick has primary responsibility for investor relations for the Morrocroft family of funds. From 2001 until co-founding Gorelick Brothers in 2003, Rael served as a senior marketing and business development consultant for Atlantic Assurance Group. Rael managed Atlantic's expansion into Texas following that state's adoption of home equity lending.

Federal Reserve Remarks, Nyitray, iServe Lending Jun 15, 2016

Show notes

Federal Reserve Chair Janet Yellen gave her news conference after the central bank kept interest rates unchanged. Market expectations for a Fed rate hike dwindled ahead of the meeting, amid a lackluster May jobs report and concerns about a British exit from the European Union. Joining the broadcast to discuss the economy, bond prices, the Fed and housing is Brent Nyitray, Director of Capital Markets at iServe Residential Lending. Brent is responsible for managing iServe's origination pipeline and Ginnie Mae securitizations. Prior to iServe, Brent was an analyst and trader at several hedge funds as well as ran the European Risk Arbitrage trading desk at Bear Stearns. Brent is also the author of The Daily Tearsheet, a blog focused on the economy, financial markets and real estate.

Raising Capital From Family Offices - Wilson, CEO Family Offices.com May 23, 2016

Show notes

Richard Wilson founded The Family Offices Group six years ago and which has subsequently grown to be the largest association in the industry providing training, industry reports, and services to over 1,000 family offices around the globe. Wilson is also the author of the The Family Office Book which can be found at Barnes & Noble and Amazon.com. Wilson will discuss strategies for raising capital from Family Offices as well as new trends in co-investment, club deals and direct investments.

Pipeline Risk Management, Mortgage Professional's Handbook - Dean, CEO of MCM Apr 19, 2016

Show notes

It's called the NEW STANDARD INDUSTRY REFERENCE. Three volumes of the first ever published book entitled "The Mortgage Professional's Handbook. It's the first resource since the meltdown that discusses every aspect of the business from production, secondary marketing, operations, compliance, technology and finance. Dean Brown, Founder & CEO of Mortgage Capital Management and also one of the authors who wrote the chapter in regard to pipeline risk management joins the podcast to discuss the book and managing pipeline risk. Since 1994, MCM has helped mortgage bankers maximize profitability, decrease earnings volatility and powerfully manage their risks through their unique pipeline and interest rate risk management services and tools.

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