MBS

The lease/purchase home operator is securitizing a loan with higher debt-service coverage that most prior MBS issues from its trust. It also is providing a geographically diverse mix of homes that make the deal less vulnerable to isolated outbreak hotspots.

Trepp research finds that high demand, especially during the COVID-19 outbreak, has rewarded MBS investors' faith in a sector with 'negligible' delinquency rates and healthier leverage levels among operators.

The company had lower losses on its mortgage servicing rights investments compared with the second quarter.

To continue providing liquidity for lenders, Fannie Mae lengthened the period in which it would continue the purchase of forborne mortgages and pools of mortgage-backed securities into 2021.

The private investment firm is securitizing a $265 million loan backed by fee interests in 58 well-performing properties across 12 states.

Pretium, by taking over Front Yard's 14,000-plus rental properties, will become the second-largest operator of cash-flowing single-family rental housing in the U.S.

A surge of mortgage originations allowed Ginnie Mae to surpass its high watermark for mortgage-backed security issuance by nearly 33%.

The deal consists of 11,673 nonconforming first-lien mortgages, of which nearly all have been previously modified. Approximately 7% are in COVID-19-related forbearance.

The notes are backed by $456.9 million in high-balance loans that meet qualified mortgage standards, according to ratings agency presale reports.

With the onset of COVID and the reaction by the Federal Reserve Board and other agencies, market pressures have reduced credit availability significantly.