Hudson Americas is pooling its next aggregation of non-qualified, high-balance mortgages in a new securitization that is exposed to a large share of borrowers seeking or already receiving pandemic-related forbearance or deferral on payments. So far, a little over half of those granted the allowance have yet to skip any payments.
-
As COVID-19 infections increase across the country, including in California, Citigroup has structured a residential mortgage-backed securities offering fit for the times, providing investors with a strong deal structure and robust collateral.
June 25
-
Driven Brands is preparing a $175 million asset-backed securities deal that will provide investors with exposure to a relatively safe industry during the coronavirus pandemic.
June 25 -
With the coronavirus pandemic and several other factors pointing to increasing consumer demand for wireless data access and content, Diamond Communications’ current securitization includes a sizable acquisition account that may introduce new assets to the securitization pool.
June 24
-
For banks with assets between $10 billion and $100 billion, the average exposure is 165% of capital.
June 24
-
Subprime auto ABS market participants do not see its outlook worsening significantly as a result of the pandemic, but most anticipate losses.
June 24
-
Even as interest rates remained at record-low levels, mortgage application activity for both purchases and refinancings declined compared to one week earlier, according to the Mortgage Bankers Association.
June 24
-
A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic.
June 23
-
On the heels of its first CLO transaction this year, Western Asset Management is back in the market with a $355.72 million private-label RMBS offering in which a tenth of the borrowers have been granted forbearance.
June 23 -
Vista Point Mortgage is aggregating a collection of mostly non-conforming mortgages that it acquired from several originators.
June 23 -
Whatever path Fannie Mae and Freddie Mac take, the Mortgage Bankers Association would like to see them preserve many of the changes they made while in government conservatorship.
June 23
-
The Consumer Financial Protection Bureau plans to change the definition of what constitutes a qualified mortgage from a 43% debt-to-income limit to a price-based threshold, and further extend a temporary exemption given to Fannie Mae and Freddie Mac.
June 22
-
Longstanding CLO manager Western Asset Management just priced its first deal of 2020, and despite the transaction's much more conservative structure, spreads doubled from its deal a year earlier.
June 22
