As financial distress mounted, 12.4% of mortgagors missed payments across the second and third quarters of 2020 — and it could get worse, according to a study from the Mortgage Bankers Association.

NYL Investors’ $400 million Flatiron CLO 20 incorporates increasingly common provisions giving it more flexibility in today’s uncertain credit environment.

PPM Loan Management Company's new CLO has an expected triple-A spread of 142 basis points.

Barings LLC is back in the market with the $319 million Barings CLO 2020-II deal that provides higher credit enhancement on the top rated tranches than the Barings CLO 2020-I, its first CLO this year that was completed in September.

Completing in September its first floorplan ABS deal for 2020, GM Financial is approaching the market again, this time with a $924.9 million deal that carries an identical structure and credit enhancement to the earlier transaction.

Credit Acceptance Corp. is pursuing its third senior-subordinate auto-loan securitization of 2020, providing investors with bonds backed by risky collateral as well as a long and successful track record issuing asset-backed securities.

Just a week after commenting that the bottom on mortgage rates was possibly reached, Freddie Mac reported that they fell 6 basis points to another record low.

Defaults have been milder than expected thanks to government relief and stricter underwriting. But with the crisis dragging on and policymakers unable to agree on a stimulus plan, loans to highly indebted companies remain at risk.

Credit portfolio manager’s outlook on corporate borrower defaults and spreads on their loans, while still gloomy, has improved somewhat as the pandemic continues.

For investors seeking rich yields, mortgage-insurance provider Radian Guaranty is approaching the market with a $488 million transaction that is offering greater credit enhancement than a similarly structured deal earlier this year, pre-pandemic.

As the ongoing pandemic raises major questions over the fate of commercial real estate, the Benchmark 2020-B20 Mortgage Trust deal approaching the market has as a significantly higher concentration of office properties.

Mortgage applications decreased 0.7% from one week earlier, but lending activity should continue strong for the remainder of the year as rates stay low, according to the Mortgage Bankers Association.