Progress Residential is bringing its next securitization of single-family rental properties to market, even as concerns mount on the depth of pandemic-driven tenant forbearance and delinquency trends.
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The new $1.2 billion InSolve Global Credit Fund IV will pursue a subset of the alternative asset manager’s specialty in non-performing distressed loans, including those in insolvency, restructuring or liquidation, according to a company release.
June 10
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Unlike in previous years, the results from two different evaluations will be released simultaneously and will include an assessment of bank capital under coronavirus-related scenarios.
June 9
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Barclays Commercial Mortgage Securities Mortgage Trust 2020-C7 is backed by a pool of 49 fixed-rate loans collateralized by 153 commercial properties – of which 17 loans are tied to multifamily/manufactured housing properties representing 35.4% of the pool balance.
June 9
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Some lawmakers fear that when forbearance plans and enhanced unemployment coverage expire, the consequences for mortgage borrowers still affected by the pandemic will be severe.
June 9
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If delinquency rates rise, all four stand-alone firms would have a capital shortfall.
June 9
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The FHFA’s proposal is intended to strengthen Fannie Mae and Freddie Mac, but many experts warn that it could boost guarantee fees for lenders that they say may be passed on to borrowers.
June 8
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Potential COVID-19 stresses include a rising tide of unemployed borrowers missing payments and seeking extensions, as well as falling used-car values.
June 8
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The central bank will increase support for credit issued through the Main Street Lending Program while providing midsize firms with more flexibility on the amounts they receive.
June 8
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About 9% of government-insured loans in forbearance have low equity, which could hamper post-forbearance servicing.
June 8
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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.
June 8
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Hudson Americas is pooling its next aggregation of non-qualified, high-balance mortgages in a new securitization that is exposed to a large share of borrowers seeking or already receiving pandemic-related forbearance or deferral on payments. So far, a little over half of those granted the allowance have yet to skip any payments.
June 8
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But there was an increase in private-label mortgages in forbearance.
June 5
