The deal bears many of the characteristics of previous front-end credit-risk transfer deals that PennyMac entered into with Fannie Mae.

Speakers at this year’s ABS East conference — held online — focused on how the coronavirus impacted assets and the outlook for 2021.

Investors helped nonbank servicers with their advancing obligations for delinquent mortgages this year, but the outlook is murky.

Whether its warehouse borrowing or debt restructuring, the capital markets remain a favorable place to be for nonbank lender/servicers.

Freddie issued its first multifamily K-deal in which both the floating-rate bonds and the underlying mortgages are indexed to SOFR.

The agency MBS market is on track to securitize over $2 trillion of refinance loans and $1 trillion of purchase mortgages in 2020. Nonbanks accounted for over 70% of new issuance in recent months. (Includes two data charts.)

The use of LIBOR as an index is slated to end in just under 13 months but the benchmark administrator has other ideas. One issue: legacy contracts.

Wall Street’s mind has been put to ease regarding an expedited conservatorship exit for Fannie and Freddie but concerns remain.

Fannie’s new REMIC election for its multifamily MBS will not change their basic structure. The asset will remain as a single-class pass-through security is-sued through a trust agreement.

The increase in the maximum loan limit reflects a 7.42% growth in the seasonally adjusted housing price index in 2020.