Designed to aid MBS issuers hurt by the pandemic, the Ginnie Mae PTAP has received high marks thus far. Details about usage could be released before the weekend starts.
Some of the $659 billion of loans originated through the Paycheck Protection Program are eligible for sale in the secondary market, but it remains to be seen whether the loans will make it into ABS.
Ginnie Mae came to the rescue of a handful of MBS issuers with its PTAP program. Meanwhile, Fannie/Freddie issuers needing cash because of the pandemic have some new options, but will they be used?