MBS

The insurance company has previously sponsored three securitizations of reperforming/nonperforming loans since 2017.

Deals, trends and research in structured finance and asset-backed securities for the week of Nov. 6-12

Freddie Mac representatives would not comment on the sudden resignation of Brickman. Interim CEO Michael Hutchins has served as Freddie’s executive vice president of investments and capital markets since January 2015.

The sector’s leaders are hoping for better in 2021, while not forgetting lessons learned about the market’s risks in 2020.

FHA volumes, a key contributor to Ginnie Mae issuance, could fall as long as the refinancing boom continues — unless the FHA takes a step that could reverse that trend.

Signs of weakness are showing in commercial real estate where property values have begun falling. The report also said that hedge fund leverage has remained elevated and that life insurers are reaching debt levels not seen since the 2008 financial crisis

The deal is among the largest Freddie Mac has on its fourth-quarter K-Deal platform issuance calendar.

While the overall rate fell in October, S&P noted a sharp rise in the proportion of loans overdue 60 days as many roll out of COVID-19 forbearance.

Rescuing malls will be unusually complicated because the properties have byzantine webs of financing that have only grown more elaborate with time.

How we resolve millions of delinquent mortgages due to COVID is the only question that matters.

Four tranches of AAA-rated notes in the $342.2 million JPMorgan Mortgage Trust 2020-8 may utilize a term-SOFR rate should the benchmark improve on the weighted-average coupon of the deal.

The lease/purchase home operator is securitizing a loan with higher debt-service coverage that most prior MBS issues from its trust. It also is providing a geographically diverse mix of homes that make the deal less vulnerable to isolated outbreak hotspots.

Trepp research finds that high demand, especially during the COVID-19 outbreak, has rewarded MBS investors' faith in a sector with 'negligible' delinquency rates and healthier leverage levels among operators.

The private investment firm is securitizing a $265 million loan backed by fee interests in 58 well-performing properties across 12 states.

Moody’s Investors Service sees improved recovery prospects for the U.S. restaurant industry next year, buoyed by projected revenue growth of 15% despite ongoing concerns of the length and impact of the coronavirus pandemic.

Pretium, by taking over Front Yard's 14,000-plus rental properties, will become the second-largest operator of cash-flowing single-family rental housing in the U.S.

For investors seeking rich yields, mortgage-insurance provider Radian Guaranty is approaching the market with a $488 million transaction that is offering greater credit enhancement than a similarly structured deal earlier this year, pre-pandemic.

A New York-state proposal to shift trillions of dollars in securities contracts from Libor- to SOFR-based benchmarks is gathering dust. That worries bankers and investors on on how to proceed with the next steps toward a replacement rate as Libor's post-2021 expiration grows nearer.

The deal consists of 11,673 nonconforming first-lien mortgages, of which nearly all have been previously modified. Approximately 7% are in COVID-19-related forbearance.

The notes are backed by $456.9 million in high-balance loans that meet qualified mortgage standards, according to ratings agency presale reports.