Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Print This Post COVID-19’s Impact on Mortgage-Backed Securities Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Fitch Ratings is raising concern that the government-sponsored enterprises’ (GSEs) response to the COVID-19 pandemic is having a problematic impact on their mortgage-backed securities (MBS) issuances.Fitch noted that its rating actions prior to the pandemic’s onset were mostly positive for the GSEs’ risk transfer deals. But on May 19, Fitch placed seven initial exchangeable classes on Rating Watch Negative and revised the Rating Outlook to Negative from Stable on five additional tranches from 15 Fannie Mae and Freddie Mac credit risk transfer (CRT) transactions issued between 2013 and 2015 and one private label CRT transaction issued in 2018.Suzanne Misretta, Senior Director at Fitch, explained this sudden shift to pessimism was the result of the GSEs’ acknowledgment of the pandemic.”Both GSEs have not responded to the coronavirus pandemic in the same manner they have for natural disasters such as hurricanes in the past,” said Mistretta.Misretta highlighted Fannie Mae’s Connecticut Avenue Securities (CAS) series from 2013 and 2014 (C01) and Freddie Mac’s Structured Agency Credit Risk (STACR) series from 2013 and 2014 (DN1 and DN2) for failing to carry provisions for grace periods or credit event reversals, adding they lacked the flexibility to address natural disasters and, thus, were among the transactions most at risk given the current environment.”Some fixed severity deals have either a grace period or reverse credit event that lessens the impact of affected borrowers,” said Mistretta. “That said, some bonds are at risk of permanent interest shortfalls since the interest paid will be calculated off of the written down bond balance until the reference pool and bonds are written back up.”Misretta added that the GSEs’ lack of pandemic response and the rigidity of structure in their MBS issuances could result in downgrades of some tranches to speculative-grade, reflecting either an elevated vulnerability of default risk or that default risk is present. in Daily Dose, Featured, Government, News Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of nine books, the host of the award-winning SoundCloud podcast “The Online Movie Show,” co-host of the award-winning WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog and Profit Confidential. His real estate finance writing has been published in the ABA Banking Journal, Secondary Marketing Executive, Servicing Management, MortgageOrb, Progress in Lending, National Mortgage Professional, Mortgage Professional America, Canadian Mortgage Professional, Mortgage Professional News, Mortgage Broker News and HousingWire. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago August 26, 2020 2,001 Views Previous: Many Homeowners in High-Risk States “Unprepared” for Hurricane Season Next: FHFA Announces Extension for Buying Qualified Loans in Forbearance Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago 2020-08-26 Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Related Articles About Author: Phil Hall The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / COVID-19’s Impact on Mortgage-Backed Securities Data Provider Black Knight to Acquire Top of Mind 2 days ago
NEW YORK (AP) — Yankee Stadium is open as a COVID-19 vaccination site and is drawing lines of people from surrounding neighborhoods in the Bronx. The megasite is being restricted to Bronx residents as a way to boost vaccination rates in the New York City borough that has the highest percentage of positive coronavirus test results. The Yankees’ home opened for appointments for qualified residents early Friday under damp skies. The site run jointly by the city and state will be able to handle 15,000 people during its first week. It will be open seven days a week, 8 a.m. to 8 p.m.
In its last home series of the regular season, the Wisconsin women’s hockey team is set to take on Minnesota-Duluth this weekend, with both teams looking to get a leg up in the race for a playoff spot.Sitting in third place in the WCHA, the No. 8 Badgers (17-9-2, 13-9-2 WCHA) are just two points out of second place behind North Dakota (45 points). Facing off against them is a Bulldog team (14-11-3, 13-10-1 WCHA) that trails UW by three points in the league standings.While No. 1 Minnesota has run away with the regular season WCHA title, home-ice advantage is still very much up for grabs for the conference tournament, and every win will help either team reach the NCAA tournament come March.“The nice thing about it, we have control over where we want to go. If you’re successful the next couple of weekends, get yourself in the playoffs, you’re playing well you’re healthy, the opportunities are out there,” head coach Mark Johnson said at his Monday press conference. “As a coach and as a team, that’s all you can ask for.”Last time on the ice, the Badgers trounced St. Cloud State on the road with 6-0 and 5-1 wins last weekend. Wisconsin found success on its power play throughout the series, putting away four goals – three of which came in game two – with the man-advantage.After losing three of its previous four game heading into last week, UW needed to get back to the basics, and for Johnson the weekend was important for establishing a base for a playoff run.“Coming off what I thought was six very good periods up in St. Cloud. I like the way we played. A lot of good things happened within both Friday and Saturday’s game,” Johnson said Monday. “It bodes well because at this time of the year is when you want to be playing your best hockey. We’re going down that path right now.”However Minnesota-Duluth will be no easy opponent to take down. The Bulldogs find themselves in need of a boost after splitting a series with Minnesota State-Mankato last weekend at home, and being swept by Minnesota the weekend before.Historically Wisconsin holds a 26-29-10 all-time record against the Bulldogs. Back in mid-October the Bulldogs swept UW and held the Badgers scoreless through both games. However in four months both teams have evolved and with the programs so close in standings, fans will likely see two hard-fought games this weekend.Emotions will also run high, as the upcoming series marks the last regular season home games Wisconsin’s five senior players will face off in. Forwards Brianna Decker, Alev Kelter and Lauren Unser, along with defensemen Saige Pacholok and Jordan Brickner will be honored at Sunday’s game. For Johnson it is hard to imagine their four years are almost up.“You look at your senior class and you can remember when they first stepped on campus as freshman and their parents hugged them and letting them go. … That’s certainly an emotional day,” Johnson said Monday. “And you will see the same thing Sunday, when those families come back into town and they watch their daughters step on the ice and play their last regular season games. You think wow, where did those four years go”?The team will face off Saturday night at 7 p.m. at LaBahn Arena and return to the ice Sunday at 4 p.m. for game two of the series.