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Morgan Stanley today announced the appointment of John R. Klopp as Head of Americas Real Estate Investing and Global Real Estate Debt Investing. Mr. Klopp will start his new role effective February 1.
RealtyTrac, an online marketplace for foreclosure properties, released its Year-End 2009 Foreclosure Market Report, which shows a total of 3,957,643 foreclosure filings — default notices, scheduled foreclosure auctions and bank repossessions — were reported on 2,824,674 U.S. properties in 2009, a 21 percent increase in total properties from 2008 and a 120 percent increase in total properties from 2007. The report also shows that 2.21 percent of all U.S. housing units (one in 45) received at least one foreclosure filing during the year, up from 1.84 percent in 2008, 1.03 percent in 2007 and 0.58 percent in 2006.
Freddie Mac (NYSE: FRE) today announced a new offering of Structured Pass-Through Certificates ("K Certificates"), multifamily mortgage-backed securities that help provide liquidity, stability and affordability to the nation's multifamily housing market. The company expects to offer approximately $1.1 billion in K Certificates ("K-005 Certificates"), which are anticipated to price on or about January 27, 2010, and settle on or about February 3, 2010.
CEMP LLC is continuing to bring accredited and institutional investors credit-enhanced mortgage-backed securities (MBS) with A1 Classes that carry a “AAA” Rating from S&P (or DBRS), given their Principal is fully collateralized by underlying A2 Classes of treasury strips. Geary Securities, Inc. assists CEMP LLC by acting as sole placement agent.
