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LIBORThe restrictions on the pooling of loans with any interest term based on Libor will be effective for traditional mortgage-backed securities issued starting Jan. 21, 2021, and earlier for reverse-mortgage securitizations.September 21
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Bondholders could see principal losses if, due to the way the documents are worded, the rate is frozen at the last published amount.September 18
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After a boom in corporate distress when economies shut down to deal with the pandemic, 2020 had been expected to be the biggest bankruptcy year ever. The pace of bankruptcies was widely expected to pick up after last month, which was slower than May-July, but still the worst August on record.September 17
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S&P stated lessors are confronted with the increasingly troubled financial health of airlines, which has led to a sharp drop in aircraft values and lease rates as well as an array of requests for deferrals or delayed payments on rental contracts.September 16
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The central bank said it would keep interest rates at current levels through at least to help the U.S. economy recover from the coronavirus pandemic.September 16
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The prospective payout is so alluring to investors that they’ve placed three times as many orders as bonds and loans available for sale. That allowed Delta to boost the size of the deal from an original $6.5 billion, enough for the company to rule out the need for any federal aid.September 16
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Also the Federal Housing Administration, which is a key contributor of government-insured loans to Ginnie securitizations, recently set new conditions on mortgage applicants that have been in forbearance.September 14
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The stock market has reached record highs despite rampant unemployment, recession and a global pandemic. What gives?September 9
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This proposed Libor replacement is an imaginary, backward-looking benchmark dreamed up by the economists at the Fed with no discernible market.September 2
ChairmanWhalen Global Advisors LLC
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Following its deadline for written comments on the topic last month, the Federal Housing Finance Agency is scheduling events that will focus on two key themes emerging in responses.September 1
