Zillow's $1.2 billion of mortgage bonds in focus after company abruptly exits home-buying business

Zillow Group Inc.’s roughly $1.15 billion pile of mortgage bonds tied to its home-buying business has been thrust into the spotlight, after the real-estate giant on Tuesday called it quits on its iBuying home-flipping business.

Such lists happen every day on Wall Street and can help bond sellers and buyers gauge the value of a security. However, the roughly 2.3% coupon senior Zillow bond, which was on a list of four “prime” residential mortgage bonds, was pulled before its scheduled bid time Wednesday morning, according to bond-tracking platform Empirasign.

That could be considered a risky feature, since it can mean uncertainty in terms of credit risks. This time, however, it may mean a quicker outcome for bond investors. Corporate mortgages Another key way that Zillow’s mortgage bonds are different than the norm is that Wall Street banks lent to the company itself, not a pool of thousands of different homeowners.

Junk

thanks

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Zillow shuts down homebuying business, laying off 25% of workforceInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. This is bullish Zillow正在关闭其购房业务，并解雇25%的员工 Ok
Source: BusinessInsider - 🏆 729. / 51 Read more »

Zillow plunges 24% to lowest since July 2020, after company exits home-buying businessAnalysts slashed their ratings on Zillow on Wednesday, a day after the company said it will no longer buy and sell homes because of unpredictable pricing. Honestly i never thought to earn as much as have earn now Though i didn't know the trading process at first thekimal thought me steps to earn from Bitcoin trading have been earning massively trading with her Get your BTC and DM the account manager thekimal Amazing that they can lose money in one of the best housing markets in history.
Source: CNBC - 🏆 12. / 72 Read more »

Zillow Ending Home-Flipping Business, Will Lay Off 25% Of StaffZillow Group says it will stop buying and selling homes, citing the unpredictability of forecasting housing prices. you can blame hgtv for your abject FAILURE IN THE FLIPPING BIZ zillow HGTV showed us you always make $ flipping and total renos only take 30 - 60 minutes I think they were lying to us 🤣 good Their TV ads are so obnoxious!
Source: HuffPostWomen - 🏆 27. / 68 Read more »