Secondary

The private equity firm's REIT arm is seeking to price a second CRE loan portfolio for May, this time led by an industrial portfolio of warehouses and logistics centers. No hotel or shopping mall loans are included.

The Mortgage Bankers Association's forecast anticipates tremendous coronavirus stimulus-related debt coming on to the market.

Director Mark Calabria, who abandoned the Fannie and Freddie capital proposal written by his predecessor, said he expects a revised framework to be ready “very soon.”

Progress Residential is bringing its next securitization of single-family rental properties to market, even as concerns mount on the depth of pandemic-driven tenant forbearance and delinquency trends.

Sellers are currently willing to concede discounts of around 5%, while bidders are hoping for about 20% off pre-pandemic prices. That estimated gap, which is likely wider in specific cases, has put a freeze on deals.

The two mortgage giants said they would begin the process of hiring outside firms to help raise capital that will be needed to exit conservatorship.

Total forbearance driven by the coronavirus rose by 25 basis points, which suggests it is still growing but at a slowing pace, according to the Mortgage Bankers Association.

Ginnie Mae is offering temporary relief related to its acceptable delinquency-rate threshold in response to issuers' need to fulfill the forbearance requirements in the coronavirus rescue package.

First Republic is preparing a private-label residential mortgage-backed securities transaction and could be the first bank to launch this type of deal since the coronavirus first roiled U.S. markets in mid-March.

The global hospitality industry is facing the worst downturn in its history, and New York, the epicenter of the coronavirus outbreak in the U.S., is poised for a painful recovery.