Total forbearance driven by the coronavirus rose by 25 basis points, which suggests it is still growing but at a slowing pace, according to the Mortgage Bankers Association.

The Flagship Credit Auto Trust 2020-2 transaction is only the second subprime auto-loan ABS transaction in the last two months, following the pricing last week of an American Credit Acceptance-sponsored $209.3 million bond offering.

Ginnie Mae is offering temporary relief related to its acceptable delinquency-rate threshold in response to issuers' need to fulfill the forbearance requirements in the coronavirus rescue package.

The agencies produced an application process that includes favorable interpretation of qualifying expenses.

First Republic is preparing a private-label residential mortgage-backed securities transaction and could be the first bank to launch this type of deal since the coronavirus first roiled U.S. markets in mid-March.

The central bank's Financial Stability Report said companies may face difficulties repaying debt given lower earnings, “which could trigger a sizable increase in firm defaults."

A $425 million franchise-fee securitization sponsored by TGI Fridays has taken another ratings hit because of the 796-store chain’s increasingly poor financial performance, now magnified by COVID-19 stresses.

Ratings agencies are projecting slightly increased bond losses for American Honda Finance Co.’s next billion-dollar auto-loan securitization.

Unlike other asset-backed issuers in the auto or mortgage sector, SoFi was able to market SoFi Professional Loan Program 2020-C Trust without additional investor protections above what it offered in deals closed before the COVID-19 outbreak.

The agency's announcement came one day after the agency said it would provide borrowers struggling to stay current with an additional payment deferral option.

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.

Eligible borrowers can add the forborne payments to the end of their loan term.