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.
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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
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