Securitization

Add continued growth in commercial and multifamily mortgage debt outstanding to the list of things that the economic fallout from the coronavirus might affect.

The Federal Reserve's most recent economic-stimulus effort could reduce disparities between a rally in Treasurys and a relative slump in mortgage-backed securities that contributed to higher average home-lending rates last week.

Mortgage prices rose and spreads tightened Monday morning as investors responded favorably to the Federal Reserve's weekend announcement that it will resume net purchases of agency MBS for the first time since October 2014.

The Federal Housing Administration is making coronavirus adjustments while warning of possible delays as the industry anticipates a new wave of borrowing due to the Federal Reserve's latest short-term rate cut.

Home price gains continued during the fourth quarter and pushed the share of upside-down mortgages to the lowest level since the housing crisis, according to CoreLogic.

Not so long after Treasury bond yields experienced an unprecedented drop, the average 30-year mortgage rate rose, reflecting volatility related to the coronavirus as well as capacity issues on multiple levels.

With the return of volume and profitability to mortgage lending, it is no surprise that commercial banks are coming back to the market.

Terry Wakefield, a technology consultant who helped launch Fannie Mae's mortgage-backed securities business and form Prudential Home Mortgage, has died. He was 70.

The $400 million Toorak Mortgage Trust 2020-1 is the largest securitization to date for Toorak, which provides short-term institutional capital for individual and corporate real estate developers.

Mortgage lenders could benefit from the surge in refinancing due to widening market spreads, and that could help offset damage to servicing rights portfolio valuations, according to Keefe, Bruyette & Woods.