MBS

Deals, trends and research in structured finance and asset-backed securities for the week of Sept. 25-Oct. 1

Student housing and assisted/independent living centers were small portions of Freddie's multifamily securitizations prior to COVID, but Kroll noticed they've been missing in most rated deals since spring.

The net share of mortgages in Ginnie Mae securitizations with suspended payments appears to be stabilizing, but the number of new requests creates doubt about whether it will subside.

Deals, trends and research in structured finance and asset-backed securities for the week of Sept. 18-24

The Charlotte, N.C., company recently closed on a sale of its Cohen Financial platform to SitusAMC.

The percentage of borrowers who have asked to temporarily suspend payments due to coronavirus-related hardships is down overall, but in the Ginnie Mae market, they're still inching up.

The 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.

Deals, trends and research in structured finance and asset-backed securities for the week of Sept. 4-10

Some of the cures were the result of short-term remedies and could reverse as relief measures end.

An emergency expansion of federal rental assistance would cost between $12 billion and $16 billion a month, depending on whether enhanced unemployment benefits are extended alongside. That is a bargain in comparison with the $2.2 trillion price of the last coronavirus relief package.

This proposed Libor replacement is an imaginary, backward-looking benchmark dreamed up by the economists at the Fed with no discernible market.

Property-level insurance and funds fronted by servicers appear to mitigate the potential losses from damages and repairs in the Gulf Coast from the massive storm.

If it makes landfall as a Category 3 storm as was initially projected, damage from Hurricane Laura's surge could potentially devastate 432,810 residential properties in Texas and Louisiana, according to CoreLogic.

Stack Infrastructure has raised nearly $1.4B in the ABS market since last year to construct and manage build-to-suit "hyperscale" data centers, reportedly for tech giants like Amazon, Apple, Google and Microsoft.

Banks and other lenders have found a way to potentially make billions of dollars from the coronavirus-fueled upheaval in the U.S. mortgage market — yet it risks burning bond investors in the process.

The new “adverse market fee” for refinanced mortgages resembles steps the companies took to combat the 2008 mortgage crisis. But critics charge it isn’t necessary and will hurt borrowers’ ability to tap into low rates.

After receiving a third-party stamp of approval, Fannie Mae announced July 27 completing the latest two issuances of a single-family green mortgage backed security as part of an ongoing program that started in April and expands its long-time multi-family green MBS program.

The ongoing pandemic and the resulting weak global economy will lead to tighter-than-expected underwriting of structured transactions and continue to weaken their performance, but investors are nevertheless starting to open their arms to more risk.

Mortgage rates increased slightly for the second consecutive week, buoyed early on by positive economic news such as the jobs report that came out last Friday, according to Freddie Mac.

The FHFA looks to shed light on the amount of funds Fannie and Freddie will need to hold for their risk-sharing deals.