A pool of high-quality mortgages is securing Flagstar 2021-7. None of the loans had been subject to a coronavirus-related forbearance plan by the cutoff date.

The company attributed its second quarter loss to competitive pricing pressures and GSE-imposed charges.

Just a handful of loans in the securitized pool of investor properties, or 0.7%, had been enrolled in a coronavirus related forbearance plan.

The Arkansas bank has hired an 11-member team to develop its new operation. Much of the team joins from TCF Financial, which was sold to Huntington Bancshares in June.

Ten classes of multifamily mortgage pass-through certificates will be issued from the trust, which is secured by 29 loans on 29 properties.

An equal split of refinance and purchase rate locks occurred during July, helped by elimination of the adverse market fee, Black Knight said.

Tight inventory and heightened competition kept prime purchasers at bay as property values continued their summer surge, according to Fannie Mae.

Affirm Asset Securitization Trust 2021-B, is the company’s sixth rated term ABS. Observers expect to see more point-of-sale consumer loan asset ABS.

Despite the auto sector's resilience in recent economic quarters amid the pandemic, observers remain watchful of employment trends and waning government help.

This year’s stress tests examined 23 banks including JPMorgan Chase and Goldman Sachs, with the remainder of the firms on an “every other year” test cycle. The capital requirements for those remaining firms are unchanged from last year.

Late payments on office loans have trended upward recently, but longer lease periods may mitigate the potential for distress in that sector, the Mortgage Bankers Association said.

For the current transaction, excess spread is at about 5.65% annually, which is in line with the 5.8% in the 2021-NR series of notes.