While the Biden administration’s student loan debt forgiveness program doesn’t apply directly to borrowers with private student loans in ABS, prepayments on the loans are expected to increase.
Office property occupancy still hasn’t recovered from the pandemic, putting downward pressure on valuations and the availability of liquidity for both CMBS and CRE borrowers.
Depository institutions’ share of mortgage originations grew for the fifth straight quarter during the April-June cycle, but nonbanks still dominated the market. (Includes two data charts.)
Servicing sales remain brisk but there’s been a deal slowdown of late and more discriminate buyers. Meanwhile, new Ginnie Mae capital rules could rock the boat further.
As nonbanks go, so too goes the warehouse lending sector. Enough said on that score. The second quarter brought additional deterioration in commitment levels. (Includes data chart.)
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