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.

With rates at rock bottom, LendingTree is selling $500 million worth of short-term corporate paper. Not bad for a loan broker.

By examining how well LIBOR has correlated over time with actual bank funding costs, Federal Reserve economists have demonstrated the London rate is no better at this task than risk-free rates like SOFR.

Look for originations and securitizations to thrive the rest of the year. As for 2021, the non-QM market could be strong.

The average daily trading volume in MBS continues to head south as new creation proliferates and investors worry about the Dow blowing up again.

There’s a lack of standardization among non-agency MBS servicers regarding reporting of loans in forbearance. Investors are having difficulties understanding what exactly servicers are doing.

Rating services are requiring higher credit enhancement levels and taking negative actions on outstanding deals due to problems stemming from the coronavirus. Fitch finalized new criteria for residential MBS late last week.

The Financial Stability Oversight Council wants to take a close look at the secondary mortgage market but isn’t letting on about its agenda. Maybe a “housing czar” will come out of this, some wonder.

With overnight funding in the agency repo market hovering around 15 basis points and term repo rates a shade above the one-month LIBOR, yields for agency mREITs could edge upward, KBW analysts predict.