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One official at the bureau said this fall could be an “unusual point in history” for the mortgage market as delinquent borrowers exit forbearance plans. The agency proposed new steps for servicers to help consumers stay in their homes.

Horizon Land Co. is securitizing a $488 million single-asset, single-borrower loan that will fund its purchase of 93 rent-site communities in the Midwest and Southwest regions.

Deals, trends and research in structured finance and asset-backed securities for the week of March 26-April 1

However, the number of borrowers who failed to remit payment but were not yet 30 days overdue increased.

The deal will be Ford's 14th securitization from its FordREV shelf, which has eight outstanding deals that remain in their revolving periods.

Starting Thursday, firms should stop issuing new loans, bonds and securitizations tied to the discredited benchmark, according to the Bank of England.

Kovensky, whose departure from the posts is effective April 1, will stay on as a board member at the $17 billion credit management division of Onex Corp. Co-CEO Jason New will become head of credit as part of the transition, while Peter Zaltz will become chief investment officer.

Yellen announced she has revived a hedge fund working group so agencies can “share data, identify risks and work to strengthen our financial system."

The compact-tractor manufacturer is supporting its first 2021 securitization with 4.75% CE, after two previous deals were closed with 5.5% enhancement levels to account for potential COVID-19 macroeconomic disruption.

The agency announced it was rescinding seven policy statements issued last year meant to help companies combat fallout from COVID-19 but that the bureau's current chief said came at the expense of consumers.