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Mortgage rates yet again have dropped to a record low, even as the yield on the benchmark 10-year Treasury flirts with breaking back above the 1% mark, according to Freddie Mac.

About $430 billion in commercial and multifamily debt, more than half of which is held by banks, is maturing in 2021, with fresh capital needed to head off a tsunami of defaults.

In the waning days of the Trump administration, the agency issued a new legal theory of its power to let national banks evade state consumer protection laws. But some state attorneys general and consumer groups charge the federal regulator is attempting to sidestep restrictions imposed by Dodd-Frank.

Deals, trends and research in structured finance and asset-backed securities for the week of Dec. 18-23

The availability of financing hasn’t been an issue to date, but it still could be.

The legislation would let banks postpone the start date of the Current Expected Credit Losses accounting standard and delay categorizing pandemic-related loan modifications as troubled debt restructurings.

The top Democrats on the House and Senate banking committees urged the Trump administration to pull the plug on any steps to overhaul Fannie Mae and Freddie Mac with the pandemic still taking a toll on the economy.

The proposal would require the government-sponsored enterprises to craft resolution plans similar to regulations imposed on the largest U.S. banks.

Bankruptcies reached levels not seen in a decade, distressed debt soared to almost $1 trillion and it may take years to repair the damage to airlines, restaurants and hotels. While 2020 may be over, the drama probably isn’t.

Underwriting league tables of asset-backed securities through 12.23.2020