Loans backing securitized products are holding up fairly well even though the use of forbearance has increased. A combination of investor protections and changes in underwriting practices is helping.

Priority Financial had sued New Residential for reneging on commitments to buy its production during the height of the pandemic. The company also filed similar charges against Angel Oak.

The economic effects of the pandemic have slowed refi activity for investment properties. That, in turn, has dampened prepayment speeds for 100% investment-property pools, Wells Fargo Securities said.

Commercial real estate trade groups have urged the Senate Banking Committee to expand the Federal Reserve’s Main Street Lending Program.

The deal comprises fully collateralized excess-of-loss reinsurance coverage for MI policies written from July 2019 through March 2020.

Extensions on loans in auto securitization deals declined in May after peaking in April. The outlook on loan performance is uncertain.

The New York Federal Reserve purchased $9.81 billion in agency MBS on Monday and Tuesday, in addition to $22.89 billion bought last week. It’s been nearly three weeks since it sold any of its MBS holdings.

Former Ginnie President and current PennyMac Director Ted Tozer thinks so.

The REIT’s plan to terminate its management agreement with PRCM “for cause” would let it off the hook from paying a $144 million termination fee. But PRCM isn’t going down without a fight.

The net asset value of the Blackstone Real Estate Income Fund dropped by 24% to $443 million as of March 31 from $584 million at the beginning of the year.