If the National Flood Insurance Program is allowed to lapse mid-November, the impact could extend beyond single-family lending, the Congressional Research Service has warned.
NPL securitizations may help asset managers shore up their liquidity in the face of rising delinquencies on commercial MBS. While uncommon, a handful of commercial NPL securitizations were issued between 2013 and 2017.
The GSEs effectively ended commingling of collateral in Supers securitizations last year. Despite a sharp reduction in the commingling fee, there was only a modest rebound in the practice in the second quarter. (Includes two data charts.)
Most residential MBS and commercial MBS have limited exposure to the hurricane; the FDIC is working to sell Signature Bank’s $33 billion portfolio of commercial mortgages; DBRS ready to rate residential transition loan MBS; MISMO seeking comments on ESG materials.
Most of the gain in commercial mortgage securitization during the second quarter came from agency multifamily MBS, and the non-agency sector continues to face significant challenges. (Includes two data charts.)