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Tag Archives: Single-Family Rental Securitizations

Confluence of Factors Has Led to the ‘Perfect Storm’ for Sustained Growth in SFR Space

Those factors include higher mortgage rates, tightening credit standards, rising home prices, an increased number of rental options, ever-increasing student loan debt, and the number of household formations to building permits combined with declines in income growth, distressed sales, personal savings rate, and the overall desire to earn a home, said Chris Crippen, managing director for US Residential Asset Fund.

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Delinquency Rates Remain Low Across SFR Securitizations

According to Morningstar, the retention rate for month-to-month leases improved for most of the transactions in July after dropping in 15 out of 17 transactions in June. The retention rates of scheduled lease expirations remained within Morningstar's expectations for July, in the mid-70s. 

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SFR Vacancy Rate Stays Flat While Delinquency Rate Rises Slightly

Vacancy rates among single-family rental securitizations remained relatively flat month-over-month despite a general trend of a rising number of lease expirations, according to data reported by Morningstar Credit Ratings in its June 2015 Single-Family Research: Performance Summary Covering All Morningstar Rated Securitizations released Monday.

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Delinquencies Down Among Single-Family Rental Securitizations

Delinquencies were reported at less than 1 percent in 11 out of 15 single-family securitizations rated by Morningstar in March 2015, compared with 16 out of 17 in April. The recently-closed AH4R 2015-SFR1 (American Homes 4 Rent) and IH-2015 SFR2 (Invitation Homes) were added to the May 2015 report.

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