The captive-finance lender for General Motors is providing lower expectations for the vehicles' future residual values, compared to its prior lease ABS deals, in recognition of the likely severe recessionary impact of the coronavirus outbreak.
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The COVID-19 pandemic’s longer-term impact on residential mortgage-backed securities remains uncertain, but for now DBRS Morningstar’s outlook for the residential property assessed clean energy asset-backed securities sector remains stable.
June 25 -
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
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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
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For banks with assets between $10 billion and $100 billion, the average exposure is 165% of capital.
June 24
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Subprime auto ABS market participants do not see its outlook worsening significantly as a result of the pandemic, but most anticipate losses.
June 24
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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
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A new CFPB rule will expedite the forbearance and loss-mitigation process for consumers suffering financial hardship from the pandemic.
June 23
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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
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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
