The ballot measure, which would allow local jurisdictions to expand rent control, had concerned mortgage companies who worried the law would result in a patchwork of different policies that could complicate underwriting and discourage lending.
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A Freddie Mac study of loans in forbearance from 2017 and 2020 found that, over both periods, borrowers had low credit scores and high debt-to-income ratios.
November 18
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Genesis Financial Solutions is pursuing a $135.9 million securitization of credit card receivables, including riskier point-of-sale credits that should provide investors with attractive spreads.
November 18
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JPMorgan Chase CEO Jamie Dimon says the partisan bickering over coronavirus relief aid is harming households and businesses and jeopardizing the chances of an economic recovery.
November 18
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Mortgage applications slipped 0.3% from one week earlier, as refinance volume, particularly for Federal Housing Administration and Veterans Affairs loans, shrank significantly, according to the Mortgage Bankers Association.
November 18
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The Term Asset-Backed Securities Loan Facility was brought back to inject $100 billion into the pandemic-battered economy, but only a fraction has been disbursed. Yet experts, pointing to its calming effects on markets, recommend that it be extended into next year.
November 17
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Stimulus and regulatory actions are the main ways in which government policy in the wake of the elections will impact structured finance, according to Fitch Ratings. The degree to which they are affected will depend heavily on Georgia runoff elections Jan. 5.
November 17
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Three major commercial mortgage lenders have teamed up again this year to securitize $871 million in properties in a CMBS deal that provides investors with a highly concentrated loan pool and higher leverage.
November 17
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The franchisor and operator of restaurants under the Carl’s Jr. and Hardee’s brands, CKE Holdings priced a $400 million transaction below pricing guidance that slightly increases the private-equity-held company’s leverage.
November 17
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Educational Credit Management Corp. is issuing its third securitization since the start of the pandemic that is collateralized entirely by Federal Family Education Loan Program rehabilitated loans but still carries a negative outlook from Fitch Ratings.
November 17
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Rates could be 50 basis points steeper than the MBA’s current projections, which anticipate the 30-year mortgage will average 3.3% next year, up from nearly 3% this year.
November 16
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Lenders also increased jumbo product availability as well as rolling out new SOFR-indexed ARMs.
November 16
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Deals, trends and research in structured finance and asset-backed securities for the week of Nov. 6-12
November 15
