The two mortgage giants said they would begin the process of hiring outside firms to help raise capital that will be needed to exit conservatorship.
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Barclays Commercial Mortgage Securities Mortgage Trust 2020-C7 is backed by a pool of 49 fixed-rate loans collateralized by 153 commercial properties – of which 17 loans are tied to multifamily/manufactured housing properties representing 35.4% of the pool balance.
June 9
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Some lawmakers fear that when forbearance plans and enhanced unemployment coverage expire, the consequences for mortgage borrowers still affected by the pandemic will be severe.
June 9
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If delinquency rates rise, all four stand-alone firms would have a capital shortfall.
June 9
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The FHFA’s proposal is intended to strengthen Fannie Mae and Freddie Mac, but many experts warn that it could boost guarantee fees for lenders that they say may be passed on to borrowers.
June 8
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Potential COVID-19 stresses include a rising tide of unemployed borrowers missing payments and seeking extensions, as well as falling used-car values.
June 8
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The central bank will increase support for credit issued through the Main Street Lending Program while providing midsize firms with more flexibility on the amounts they receive.
June 8
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About 9% of government-insured loans in forbearance have low equity, which could hamper post-forbearance servicing.
June 8
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The captive-finance lender for General Motors is providing lower expectations for the vehicles' future residual values, compared to its prior lease ABS deals, in recognition of the likely severe recessionary impact of the coronavirus outbreak.
June 8
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Hudson Americas is pooling its next aggregation of non-qualified, high-balance mortgages in a new securitization that is exposed to a large share of borrowers seeking or already receiving pandemic-related forbearance or deferral on payments. So far, a little over half of those granted the allowance have yet to skip any payments.
June 8
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But there was an increase in private-label mortgages in forbearance.
June 5
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The race to provide coronavirus relief for small businesses is opening new routes to fund payments, including underused credit lines.
June 5
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One criticism of the CARES Act is that it provides relief only to borrowers with government-backed loans. Bills in New York and California would cover the remaining 30% of homeowners.
June 4
