The FHFA will allow Fannie Mae and Freddie Mac, for a limited time, to purchase loans for which the borrower has sought to postpone payments because of the economic effects of the coronavirus.
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But market observers remain unsure whether changes to the $100 billion Term Asset-Backed Securities Loan Facility program will boost CLO investor demand or new-deal issuance, given key restrictions that remain in place.
May 13
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Eligible borrowers can add the forborne payments to the end of their loan term.
May 13
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The head of the U.S. central bank said its emergency credit programs were not designed to prop businesses up over the long term.
May 13
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The central bank will disclose information on a monthly basis about its Term Asset-Backed Securities Loan Facility and its Paycheck Protection Program Liquidity Facility.
May 12
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Fitch Ratings on Tuesday sharply downgraded all of Hertz Global Holdings’ outstanding asset-backed bonds, amid growing doubts that the rental car company can pay off the notes in the event of a COVID-19 pandemic-driven bankruptcy.
May 12
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Rick Thornberry is looking to the lessons from the Great Recession and applying them to current conditions.
May 12
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The agency is being methodical in its rollout of the Main Street Lending Program in hopes of avoiding missteps that followed the launch of other coronavirus relief efforts. But observers say delaying aid brings its own risks.
May 11
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Banks could end up holding many low-rate Paycheck Protection Program loans on their books for two years, and dealing with irate borrowers who failed to meet federal requirements for forgiveness.
May 11
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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.
May 11
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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.
May 11
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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.
May 10
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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.
May 8
