RMBS

More than 2,500 Fitch-rated structured finance transactions face significant challenges transitioning from Libor to an alternative floating-rate benchmark, but the ratings agency doesn’t foresee that resulting in potential ratings downgrades until 2022.

The $156.5 million Amax Mortgage Loan Trust 2020-B is collateralized by 764 seasoned “re-performing” loans (RPLs), which are mortgages that were previously delinquent, as long as 90 days, but have recently been performing well.

Nearly 12 million renters could be served with eviction notices in the next four months. And in some cities, like New York and Houston, more than a fifth of renters say they have “no confidence” in their ability to pay next month.

The coronavirus impact in the U.,S. alone has resulted in a 30% year-over-year decline across securitizations, CLOs and MBS.

The trustee is piloting a distributed-ledger program that can automate much of the interaction between originators, servicers and MBS investors.

Tricon American Homes launches the fifth securitization since mid-May secured by loans that finance institutional ownership and management of single-family residential rental homes.

The collateral in the $338 million also includes a large subset of mortgages (45% of the pool) that are considered "dirty current" loans with recent delinquent status.

As COVID-19 infections increase across the country, including in California, Citigroup has structured a residential mortgage-backed securities offering fit for the times, providing investors with a strong deal structure and robust collateral.

On the heels of its first CLO transaction this year, Western Asset Management is back in the market with a $355.72 million private-label RMBS offering in which a tenth of the borrowers have been granted forbearance.

Vista Point Mortgage is aggregating a collection of mostly non-conforming mortgages that it acquired from several originators.