Democratic lawmakers have urged federal entities to take steps to help servicers. Meanwhile, CFPB issued best practices for MSR transfers.

Servicers of loans in auto ABS increased their use of loan extensions in March to help borrowers struggling to make payments.

Rating services anticipate the sharp rise in the unemployment rate brought on by the pandemic will damage borrowers’ ability to repay loans.

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?

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.