After non-agency MBS issuance all but froze in March, issuers are beginning to return to the market. Neuberger Berman issued a non-QM MBS this week and others are working on deals as well.

Uncertainty regarding the performance of mortgages underlying its CRT in-vestments prompted PMT to boost the discount rate on its loans from just 5% at the end of the fourth quarter to about 11% as of March 31.

The performance of ABS from marketplace lenders could take a harder hit from the pandemic than other types of MBS and ABS, said Fitch.

Zillow Group, Radian Group and First American Financial recently priced senior note offerings to bolster liquidity.

The fight between WeWork and its tenants has cast doubt on the company’s ability to pay rent, which in turn will impact billions of dollars in commercial MBS.

Since March, spreads between SOFR and the three-month LIBOR have widened to roughly 80 basis points. The five-year average, which the ARRC recommends as a “spread adjustment,” is only 27 bps.

Will the FHA hike premiums as a way to allay forbearance risk on Ginnie Mae-backed loans? Probably not, but it’s an option.

As the COVID-19 economic picture worsens, the GSEs are getting more discerning about what type of loans they will purchase.

It’s not final yet, but servicers stand to make at least $500 per unit to handle GSE loans that need to be deferred because of COVID-19-related hardships.