An indefinite closure of New York retail businesses during the COVID-19 pandemic added credit pressure on revenue bonds issued for the state’s largest mall.

PACE sponsors are raising capital and promoting plans to retroactively fund stalled CRE projects amid the COVID-19 outbreak, giving a potential boost to ABS activity in the space.

Complaints to the bureau hit an all-time high in April. More than one in five said servicers wouldn't grant deferrals, forced borrowers into forbearance or violated other requirements of the coronavirus relief law.

After ending 2019 on a high note, Ocwen Financial posted an income loss in the first quarter due to the unexpected costs and volatility created by COVID-19.

Three of the four had fewer new notices of delinquency for the quarter, but that should change going forward.

Because of debt restrictions in Main Street lending programs, many speculative-grade borrowers appear ineligible for federal loans to alleviate COVID-19 stresses, according to a new report from Fitch Ratings.

The Federal Reserve also said in a supervisory report released Friday that it would conduct stress tests this quarter as planned, taking into account sudden deterioration in the economy brought on by the coronavirus pandemic.

Up to 12% of loans under the $660 billion small-business rescue program could be tied to misleading or completely phony applications, fueling concerns about lenders' potential liability.

VW Credit becomes the seventh lender to offer asset-backed bonds since the Federal Reserve announced TALF backing of prime auto ABS notes to support stimulus efforts for the COVID-19 ravaged market.

Lenders that scrambled to grant forbearance as the coronavirus pandemic took hold are unsure about the extent of potential losses.

Many originators stopped making riskier products, including jumbo loans and low credit score offerings, during April.

The government-sponsored enterprises have set new temporary limits on mortgage sales while extending processing flexibilities related to COVID-19.