Securitization

Freddie Mac elevated Corley to executive vice president and head of its single-family business, putting her permanently in the role she occupied since last October.

Over 67% of the loan balances in Sabal Capital Partners' commercial mortgage MBS deal were for apartment buildings financed through the Irvine, Calif.-based firm.

The notes in Citigroup Commercial Mortgage Trust 2020-555 are backed by a beneficial interest in the trust’s $350 million portion of the 119-month fixed-rate commercial loan. The loan is secured by a 52-story New York luxury apartment building in Manhattan’s Midtown West submarket.

As the hunt for yield intensifies, investors including Pacific Investment Management Co. see an attractive opportunity in mortgage bonds.

Five MBS pools of predominantly non-QM mortgages have been launched into the market by originators and loan aggregators, according to ratings agency presale reports published since Monday.

Banks' lowering of origination fees and loosening of underwriting standards often foreshadow a downturn.

The government-sponsored enterprises’ plan to cease accepting loans pegged to the London interbank offered rate a year ahead of its scheduled expiration is expected to hasten action in securitized markets.

Despite a drop in multifamily loan volume, industrial, health care, office and retail originations pushed overall multifamily and commercial mortgage lending to unprecedented heights, according to the Mortgage Bankers Association.

Default rates for prime jumbo mortgages will increase, but a strong economy and rising home prices will bail most borrowers and lenders out, Moody's said.

The mortgage securitization market can expect some changes, particularly in the specified pool and to-be-announced markets, alongside a continuation of trends in other areas.