Some credit-risk transfer deals explicitly exempt forbearance losses due to natural disasters. Freddie Mac clarified that it considers the coronavirus a natural disaster. Fannie Mae has yet to provide guidance.

The bulk of non-agency MBS currently being issued is backed by seasoned mortgages. Rating services are also adjusting criteria to account for the coronavirus.

Auto ABS offerings returning to the market are being met with strong demand from investors, prompting deal sizes to be increased.

The coronavirus-triggered lockdown has prompted rating agencies to increase loss expectations for newly issued auto ABS.

Ladder Capital and Colony Credit Real Estate recently sold assets at a loss in an effort to increase liquidity.

The Division of FHLBank Regulation’s decision to accept PPP loans as collateral is based on the Small Business Administration’s 100% guarantee of the unpaid principal balance.

Thanks to economic damage caused by the coronavirus, the non-QM market is in tatters. Yet, opportunity abounds in the junk heap. Will Citadel become a specialty/subservicer?

When it comes to pandemic-related bailouts, the Fed is running the table. But the mortgage industry would like to hear something concrete on servicer liquidity.

A $200 million ABS backed by oil and gas assets closed this week while presale reports were published for four auto-backed transactions.

MFA Financial and AG Mortgage Investment Trust have staved off margin calls from most of their financiers for at least two weeks.