The new MBS is somewhat smaller and has longer average loan seasoning...

Late payment rates peaked in June at 11.82% as borrowers struggled with the impact of the pandemic on economic activity.

The shift is tied to GSE PSPA amendments, which came in January...

More gas left in the MBS tank? Certainly looks that way...

In March, AFC Gamma completed its initial public offering, raising $118.8 million in cash while becoming the first publicly traded lender specializing in cannabis real estate.

New York-based real estate investment trust unveiled plans to deploy as much as 10% of its capital — roughly $1.5 billion — in this sometimes volatile asset.

Of the total in COVID deferral status at the end of March, 91.56% of loans were current. Another 3.76% were one or two payments past due, and 4.69% were three or four payments late.

While the Treasury and FHFA said the 7% cap was “aligned with the current levels” of acquisitions by the GSEs, some analysts believe the loans have accounted for somewhat more than 7% of purchases by Fannie and Freddie each year since 2013.

Then again, the fourth quarter of 2020 was a tough act to follow as CMBS issuance hit an all-time record of $86.94 billion...

On the plus side: revenues at Freddie increased 4.9% from the fourth quarter of last year...