ABS participants saw markets freeze and were bracing for worse when federal aid provide a short-term respite. The question now: How much trust can anyone put in the medium-term and beyond?
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The agency stated it’s concerned that securitization payment cash flow for the notes could be disrupted by deals’ stop-advance features that limit the period in which servicers must cover principal and interest payments on delinquent loans to MBS noteholders.
April 27
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More details have emerged about the damage the coronavirus pandemic is inflicting on the hospitality industry. One servicer alone has received 2,000 workout requests in the past month.
April 24
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Correspondent loan sellers are hoping the new GSE purchases will help to open a market frozen by coronavirus-related risk — but the prices offered so far aren't too promising.
April 24
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Rising default levels have produced strain on many collateralized loan obligations, many of which are now approaching breaches of covenant tests on minimum weighted-average ratings factors and maximum holdings of triple-C rated loan assets.
April 23 -
The central bank and other agencies have come under pressure to be transparent about their use of funds authorized by the recent pandemic rescue law.
April 23
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Discover and Sallie Mae are the latest to report a surge in forbearance requests as households struggle with job loss and other hardships resulting from the coronavirus pandemic.
April 23
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The bipartisan coalition of AGs said homeowners should be allowed to wait until the end of a loan term to make payments they skipped because of the coronavirus.
April 23
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The policy move will allow small institutions participating in the Paycheck Protection Program to pledge business loans as collateral to obtain advances.
April 23
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More than a dozen firms have struck agreements with nine states to provide forbearance to customers struggling to make payments in the midst of the coronavirus pandemic.
April 22
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According to ratings agency presale reports, the small-compact tractor manufacturer is boosting overcollaterization to $22 million and a reserve account to 1% of the initial pool balance.
April 22
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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.
April 22
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The online lender, reeling from the economic fallout of the coronavirus pandemic, also said it is cutting senior executives' salaries by 25%.
April 21
