MBS

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.

Student housing and assisted/independent living centers were small portions of Freddie's multifamily securitizations prior to COVID, but Kroll noticed they've been missing in most rated deals since spring.

The net share of mortgages in Ginnie Mae securitizations with suspended payments appears to be stabilizing, but the number of new requests creates doubt about whether it will subside.

The Charlotte, N.C., company recently closed on a sale of its Cohen Financial platform to SitusAMC.

The percentage of borrowers who have asked to temporarily suspend payments due to coronavirus-related hardships is down overall, but in the Ginnie Mae market, they're still inching up.

The restrictions on the pooling of loans with any interest term based on Libor will be effective for traditional mortgage-backed securities issued starting Jan. 21, 2021, and earlier for reverse-mortgage securitizations.